The Impact of Board Diversity on Strategic Change: A Stakeholder Perspective

This article uses the US freight railroads, which underwent enforced restructuring due to increased competition following deregulation, to study the impact of board diversity on strategic change, where board diversity is measured from a stakeholder perspective. CEO human capital is also taken into a...

Descripción completa

Detalles Bibliográficos
Autor: Padilla Angulo, Laura
Tipo de recurso: artículo
Fecha de publicación:2019
País:España
Institución:Universidad Loyola Andalucía
Repositorio:Brújula
OAI Identifier:oai:repositorio.uloyola.es:20.500.12412/4972
Acceso en línea:https://hdl.handle.net/20.500.12412/4972
Access Level:acceso abierto
Palabra clave:Densive and strategic restructuring
Corporate governance
Board diversity
CEO characteristics
Panel data
Stakeholders
id ES_fe4804fc65d4a334bbf3ffff095513dc
oai_identifier_str oai:repositorio.uloyola.es:20.500.12412/4972
network_acronym_str ES
network_name_str España
repository_id_str
spelling The Impact of Board Diversity on Strategic Change: A Stakeholder PerspectivePadilla Angulo, LauraDensive and strategic restructuringCorporate governanceBoard diversityCEO characteristicsPanel dataStakeholdersThis article uses the US freight railroads, which underwent enforced restructuring due to increased competition following deregulation, to study the impact of board diversity on strategic change, where board diversity is measured from a stakeholder perspective. CEO human capital is also taken into account. By analyzing with panel data methodology a sample including 15 US Class I railroads covering a 20-year period from 1984 to 2004 and representing more than 90% of the railroad market, with a total of 190 observations, we find that strategic decisions are significantly influenced by both board composition and CEO human capital, but that boards exercise more influence in determining firms strategies. We find significant differences in the way directors influence restructuring decisions depending on their stakeholder status. Results indicate the importance of including measures of board composition reflecting diversity of interests in board research.This is an Accepted Manuscript of an article published by Springer in JOURNAL OF MANAGEMENT AND GOVERNANCE on 08/11/2019 available online: https://doi.org/10.1007/s10997-019-09492-y2019info:eu-repo/semantics/articlehttps://hdl.handle.net/20.500.12412/4972reponame:Brújulainstname:Universidad Loyola AndalucíaIngléshttp://creativecommons.org/licenses/by-nc-nd/4.0/info:eu-repo/semantics/openAccessoai:repositorio.uloyola.es:20.500.12412/49722026-06-24T12:48:37Z
dc.title.none.fl_str_mv The Impact of Board Diversity on Strategic Change: A Stakeholder Perspective
title The Impact of Board Diversity on Strategic Change: A Stakeholder Perspective
spellingShingle The Impact of Board Diversity on Strategic Change: A Stakeholder Perspective
Padilla Angulo, Laura
Densive and strategic restructuring
Corporate governance
Board diversity
CEO characteristics
Panel data
Stakeholders
title_short The Impact of Board Diversity on Strategic Change: A Stakeholder Perspective
title_full The Impact of Board Diversity on Strategic Change: A Stakeholder Perspective
title_fullStr The Impact of Board Diversity on Strategic Change: A Stakeholder Perspective
title_full_unstemmed The Impact of Board Diversity on Strategic Change: A Stakeholder Perspective
title_sort The Impact of Board Diversity on Strategic Change: A Stakeholder Perspective
dc.creator.none.fl_str_mv Padilla Angulo, Laura
author Padilla Angulo, Laura
author_facet Padilla Angulo, Laura
author_role author
dc.subject.none.fl_str_mv Densive and strategic restructuring
Corporate governance
Board diversity
CEO characteristics
Panel data
Stakeholders
topic Densive and strategic restructuring
Corporate governance
Board diversity
CEO characteristics
Panel data
Stakeholders
description This article uses the US freight railroads, which underwent enforced restructuring due to increased competition following deregulation, to study the impact of board diversity on strategic change, where board diversity is measured from a stakeholder perspective. CEO human capital is also taken into account. By analyzing with panel data methodology a sample including 15 US Class I railroads covering a 20-year period from 1984 to 2004 and representing more than 90% of the railroad market, with a total of 190 observations, we find that strategic decisions are significantly influenced by both board composition and CEO human capital, but that boards exercise more influence in determining firms strategies. We find significant differences in the way directors influence restructuring decisions depending on their stakeholder status. Results indicate the importance of including measures of board composition reflecting diversity of interests in board research.
publishDate 2019
dc.date.none.fl_str_mv 2019
dc.type.none.fl_str_mv info:eu-repo/semantics/article
format article
dc.identifier.none.fl_str_mv https://hdl.handle.net/20.500.12412/4972
url https://hdl.handle.net/20.500.12412/4972
dc.language.none.fl_str_mv Inglés
language_invalid_str_mv Inglés
dc.rights.none.fl_str_mv http://creativecommons.org/licenses/by-nc-nd/4.0/
info:eu-repo/semantics/openAccess
rights_invalid_str_mv http://creativecommons.org/licenses/by-nc-nd/4.0/
eu_rights_str_mv openAccess
dc.source.none.fl_str_mv reponame:Brújula
instname:Universidad Loyola Andalucía
instname_str Universidad Loyola Andalucía
reponame_str Brújula
collection Brújula
repository.name.fl_str_mv
repository.mail.fl_str_mv
_version_ 1869425670933708800
score 15,812429

Similares en LA Referencia