New kids on the block: The effect of Generation X directors on corporate performance
| Autor: | Mihail K. Miletkov, Zhaozhao He, Viktoriya Staneva |
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| Rok vydání: | 2023 |
| Předmět: |
History
Economics and Econometrics Polymers and Plastics business.industry Instrumental variable Ethnic group Generation x Accounting Industrial and Manufacturing Engineering Baby boomers Corporate social responsibility Business Endogeneity Business and International Management Inclusion (education) Finance Professional expertise |
| Zdroj: | Journal of Empirical Finance. 71:66-87 |
| ISSN: | 0927-5398 |
| DOI: | 10.1016/j.jempfin.2023.02.001 |
| Popis: | Generation X directors are slowly replacing Baby Boomers on U.S. corporate boards and will eventually dominate corporate boardrooms in the U.S. and around the world. We provide the first robust evidence of a significantly positive effect of Generation X directors on corporate performance. The positive effect is not driven by other director attributes such as age, sex, ethnicity, or professional expertise, and is robust to endogeneity checks using instrumental variables. Part of the improvement in firm performance can be attributed to the commitment of Generation X directors to corporate social responsibility and to the inclusion of women on corporate boards. |
| Databáze: | OpenAIRE |
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