Sustainable development through the effect of board diversity and CEO duality on corporate risk: Does the state-owned enterprises matter?
Impacto
Metadatos
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INVESTIGACIONMetadatos
Título
Sustainable development through the effect of board diversity and CEO duality on corporate risk: Does the state-owned enterprises matter?Fecha de publicación
2022-04-12Editor
WileyISSN
1099-1719Cita bibliográfica
Gallego-Alvarez, I., & Pucheta-Martínez, M. C. (2022). Sustainable development through the effect of board diversity and CEO duality on corporate risk: Does the state-owned enterprises matter? Sustainable Development, 1–15.Tipo de documento
info:eu-repo/semantics/articleVersión
info:eu-repo/semantics/publishedVersionPalabras clave / Materias
Resumen
To date, not much research has been devoted to analyzing the impact of some corporate
governance mechanisms (board diversity and CEO duality) on corporate risk. Consequently, we believe that it is necessary to study ... [+]
To date, not much research has been devoted to analyzing the impact of some corporate
governance mechanisms (board diversity and CEO duality) on corporate risk. Consequently, we believe that it is necessary to study such topic in greater depth. The aim of
this research is to provide further evidence of the impact that board diversity, specifically
board specific skills, board tenure and board cultural diversity, as well as CEO duality,
have on corporate risk. Additionally, our study also examines the moderating role of the
state-owned enterprises (SOEs) on the association between the three characteristics of
board diversity and corporate risk, and between CEO duality and corporate risk. The theoretical framework used in this research is based on agency theory and resource dependence theory. The findings show that board specific skills and board cultural diversity
have a negative effect on corporate risk, while board tenure does not affect it. On the
other hand, CEO duality has a negative effect, which is against the prediction of our
hypothesis. Our evidence also reveals a negative moderating effect of SOEs on the
impact of board specific skills, board tenure and board cultural diversity on corporate risk.
Additionally, SOEs do not moderate the negative impact of CEO duality on corporate
risk. Our research contributes to past literature on corporate risk by concluding that some
corporate governance mechanisms like board specific skills, board cultural diversity and
CEO duality lessen it. The moderating role performed by SOEs with the relationship
between board specific skills, board culture diversity, board tenure and corporate risk is
also a relevant contribution. [-]
Publicado en
Sustainable Development. 2022;1–15.Entidad financiadora
European Regional Development Fund | Junta de Castilla y León
Código del proyecto o subvención
CLU-2019-03
Derechos de acceso
info:eu-repo/semantics/openAccess
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