The Effect of Board Diversity on Company Risk and Policies

  • Parsi Niko Yosef


The purpose of this study was to investigate the effect of board diversity on company risk and policy. The scope of this research is the companies listed on the Tehran Stock Exchange, which were present on the Tehran Stock Exchange from 2011 to 2016, and according to the systematic elimination method, 116 companies have been selected as statistical samples. In this study, the diversity of the board of directors of the independent variable and the risk and policies of the company were considered as the dependent variable. The present study is in the category of applied research, and in terms of method, it is also considered in the category of correlational research. To collect data and information, the library method has been used and in the data section, reference to financial statements, explanatory notes and stock exchange monthly has been used. Descriptive and inferential statistics have been used to describe and summarize the collected data. In order to analyze the data, first the variance test of variance, F-Limer test, Haussmann test and Jark-Bra test and then multivariate regression test were used to confirm and reject the research hypotheses of Eviews software. The results showed that the diversity of the board on the company's policies, including physical assets; Branding and financing through debt has a positive effect, while diversity of the board has a negative and significant impact on company risk.