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The purpose of this paper is twofold: first, to investigate the effect of top management team (TMT) tenure diversity and firm financial performance (return on equity [ROE], return on assets [ROA]), and, second, to examine the moderating effect of TMT average age between TMT tenure diversity and firm performance.

The paper presented results from a quantitative study of 744 TMTs in Japanese manufacturing firms. The multiple hierarchical regression analysis was used to test the hypotheses.

The results show that TMT tenure diversity had a negative and significant main effect on ROE but not ROA. Furthermore, the results also indicated that the negative relationship between TMT tenure diversity and firm performance was attenuated by having older TMTs.

First, this paper expands scope of research on TMT diversity, which has hitherto primarily on non-individualistic variables (such as industry setting) by examining the moderating role of an individualistic variable (TMT average age). Second, this paper extended the attempts to apply the age-related theory by considering the role from the viewpoint of group level, namely, TMT average age.

In the wake of inconsistent findings between board diversity and firm performance, the purpose of this paper is to advance the research by examining the linear and non-linear nature of the relationship between board demographic diversity (gender, age, tenure, and education) and firm performance in Indian knowledge-intensive firms (KIFs).

This study uses a panel data set of top KIFs in India that is listed in National Stock Exchange’s Top-200 list for the period 2010-2014.

Results indicate that there exists a positive linear relationship between the overall board demographic diversity index (board gender, age, tenure, and education) and firm performance. Among the effects of individual board diversity variables, the authors have found that board age diversity positively whereas education diversity negatively influences firm performance. Furthermore, gender diversity and tenure diversity do not significantly influence the firm performance.

This study is based on the following demographic factors: gender, age, tenure, and level of education. The authors did not include other demographic variables such as nationality and language.

This research would help knowledge-intensive companies in designing their corporate boards. The results indicate that companies should have more diverse boards to enhance firm performance.

To the best of the authors’ knowledge, this is the first research to examine the effect of the overall board diversity index and individual board demographic diversity indices (gender, age, education, and tenure) on firm performance in the context of KIFs in India.

The purpose of this paper is to help organizations capitalize on the potential advantages of age diversity by offering insight into two new moderators in the age diversity, work group performance relationship – status congruity and cognition-based trust.

The authors surveyed 197 employees and 56 supervisors across 59 work groups to test for the moderating effects of status congruity and cognition-based trust on the age diversity, work group performance relationship.

The results demonstrated, on the one hand, that under conditions of status congruity (i.e. when there were high levels of perceived status legitimacy and veridicality) and/or when perceptions of cognition-based trust were high within the group, the relationship between age diversity and work group performance was positive. On the other hand, under conditions of status incongruity and/or low levels of cognition-based trust, this relationship was negative.

The findings contribute to the literature by being the first to provide empirical evidence for the theorized effects of status on the performance of age-diverse work groups and also by demonstrating the effects of cognition-based trust in a new context – age-diverse work groups.

Arising from the study’s findings are several strategies, which are expected to help organizations enhance perceptions of status congruity and/or trust and ultimately the performance of their age-diverse work groups.

The paper is the first to empirically demonstrate the moderating effects of status congruity and cognition-based trust on the age diversity, work group performance relationship. The study also establishes important distinctions between the effects of objective status differences vs status perceptions.

The purpose of this study is to investigate the link between top management team (TMT) gender diversity and firm risk-taking in hospitality companies. The study also links female leadership to risk-taking. Finally, this study examines the moderating effects of TMT incentive pay and TMT age on the relationship between TMT gender diversity and firm risk-taking.

This study uses an unbalanced data set of 81 hospitality firms and 888 firm-year observations over the period of 1992–2020. The study uses fixed-effects regression estimation for primary analyses and addresses potential endogeneity concerns via two-stage least square regression with firm fixed-effects instrumental variable regression. Risk-taking is measured by total firm risk (i.e. the annualized volatility of daily stock returns). Main results are supported with alternative measures of firm risk and estimation methods.

The study finds that increasing TMT gender diversity leads to a reduction in firm risk-taking in the hospitality industry. Moreover, the study finds that hospitality firms led by a female CEO experience lower firm risk compared to firms led by a male CEO. Finally, the study finds evidence that the relationship between TMT gender diversity and firm risk is contingent on the level of incentive pay awarded to TMT members and the age of TMT members. Increasing incentive pay and aging executive teams decrease the risk reduction effect of TMT gender diversity.

The findings of this study recommend that firm risk-taking in the hospitality industry is related to gender diversity in TMTs. Hence, the board of directors should pay attention to gender composition for executive positions for risk management. Moreover, the results also suggest that care should be exercised when using incentive pay to align the interests of managers and shareholders. Finally, the board of directors needs to consider both gender diversity and age of the TMT members for TMT composition to manage executives’ risk-taking behavior.

This study fills a research gap in the hospitality literature by providing empirical evidence for the link between TMT gender diversity and firm risk-taking. Additionally, the study introduces incentive pay and age of TMT as contingency factors for the link between TMT gender diversity and firm risk-taking.

The purpose of this paper is to identify whether there is some common pattern between organizations that give primacy either to younger workforce or to older one.

It depicts the empirical evidence of eight case studies and some theoretical contributions thereof. All case units are considered outstanding employers in Brazil business scenario, given the magnitude of their human resource (HR) feats and society acknowledgements. Taken together, they are eight representative cases derived from Época magazine and Great Place to Work® Institute 2013 list.

Case units exhibited strongest group age preferences on an ongoing basis. Rather, they depicted an unbalanced labor force demographic age frame for the sake of their own HR choices. As a result, they all could be labeled as age bias companies in a more or less degree. Given that their options (i.e. percentage of preferences) have been somewhat consistent during the period of analysis, one may therefore infer that such options have been buttressed by the leadership held values. Surprisingly, all case units had not provided logical arguments or wise explanations in light of their decisions related to it. Moreover, the companies had not offered compelling evidence that they were implementing robust diversity and inclusion polices aiming to provide an equalitarian treatment to all age groups or that they were at least paying attention to these issues in a coherent form. In fact, they have been astonishingly silent on these matters.

The purposeful sample strategy that was carried out in this study does not permit that the results be generalized. Actually, they are derived from only a specific cohort of companies – to some extent, they are outliers in the list of the best organizations to work for in Brazil – that has been noticeable for their extreme workforce age options.

The case units sample showed to have huge difficulties to mitigate organizational age bias effects in their headcount. In fact, the majority of the case units that were perused demonstrated to give a consistent priority for either having either younger workforce or older one.

Overall, it is expected that this study may contribute to diversity management theory by bringing further knowledge about how some of the best organizations to work for in Brazil implement their workforce demographic age policies.

The purpose of this paper is to examine the change in pension fund board diversity after self-regulation was introduced, and investigate which pension fund characteristics influence compliance with self-regulation. In addition, the authors analyze whether compliance might be achieved by tokenism.

The authors hand-collect pension fund and pension fund board data of the largest (by assets) 200 pension funds in the Netherlands. The authors compare descriptive statistics on board diversity, perform statistical tests on these, and perform non-linear regression techniques to investigate which pension fund characteristics influence compliance.

The findings are fourfold. First, over the past three years, pension fund boards have only marginally improved on gender and age diversity. In April 2014, still more than 35 percent of the funds had no women on the board, and an overwhelming 60 percent had no members below 40 years of age. This indicates that self-regulation in the pension fund industry so far has not been effective for the industry as a whole. Second, the authors find that pension funds that have larger boards are more likely to have at least one woman on the board or at least one member below 40 years of age. Third, boards of pension funds with more assets are less likely to have young board members. Fourth, boards with at least one female have a higher probability of also having at least one member below 40 years, which is suggestive of tokenism.

Based on Hirschman’s (1970) theory of voice and exit, the authors expect that pension fund boards would be more diverse than corporate boards. However, the authors find that this is not the case. Second, given the importance of generational value transfers in pension fund policy decisions, the authors expect that age is a more important diversity characteristic than gender for pension fund boards in the Netherlands. Again, the data does not support this prediction.

Consistent with the literature on diversity in corporate boards, the authors find that diverse boards are on average larger. This suggests that, all other things equal, small boards might want to reconsider whether increasing their size would lead to more diversity and hence to more voice for participants that cannot exit the pension scheme. If larger funds hesitate to include young members because of their lack of relevant skills, then the authors would recommend setting up a platform to educate young candidates and prepare them for board membership. Forced independent auditor verification, as in the UK, might be a fruitful action the regulator could enforce on pension funds going forward. However, if that also does not lead to a significant improvement, compulsory diversity quota might be the only option left for policy makers.

This paper contributes to the literature in at least three ways. First, the authors analyze whether self-regulation on diversity in pension fund boards has been effective. Second, the authors determine which pension fund characteristics are associated with more board diversity. Third, the authors shed light on tokenism in pension fund board composition: Diversity might be obtained through installing diversity tokens, which are individuals who have multiple diversity characteristics.

This study aims to examine the role of institutional investors in improving board diversity for the companies in which they invest (investee companies) using evidence from corporate board characteristics across the globe. Additionally, this study also investigates the association between institutional investors and board diversity under various institutional settings, including varying economic conditions (pre-crisis, crisis and post-crisis), legal systems and ownership structures.

Using a sample collected from 15 countries for the period 2006 to 2012, the paper uses panel data analysis to examine the association between institutional investors and board diversity.

The study provides evidence that institutional investors do not promote board diversity and show that in general there is no association between institutional ownership and various board diversity attributes such as gender, age, nationality and education. However, the study finds that institutional investors are positively associated with the educational diversity of boards during times of crisis and are negatively associated with board age diversity during pre-crisis and post-crisis periods. Furthermore, while in common law countries institutional investors are found to be negatively associated with board age diversity, they do not influence board diversity outcomes (i.e. gender, age, nationality and education) in civil law countries. The results also show that the associations between institutional investors and board diversity are mixed and insignificant according to different ownership structures (family and non-family owned firms). The main findings of the study are robust and apply to various estimation methods.

This study provides a unique perspective on the impact of institutional investors on board diversity using a sample collected from 15 countries. Furthermore, the study provides an insight that the institutional settings should be considered when investigating the activism of institutional investors in improving governance practices.

Ownership structure plays a significant role in determining board demographic diversity. However, it is still unclear how different ownership configurations impact the structures of firm's boards and how board diversity influences firm performance. This study aims to investigate the relationship between family ownership and board diversity. Therefore, in this study, the authors argue that family firms have a lower level of board demographic diversity (in terms of age, gender and nationality) than non-family firms and that board diversity moderates the relationship between ownership and firm performance.

To test the authors’ hypotheses, we draw data from a sample of 341 German family and non-family firms for a period of five years.

The results show that family firms are less diverse in terms of age, gender and nationality diversity than non-family firms.

This study contributes to the general understanding of family firms and in particular the role ownership plays in shaping board demographic diversity.

Businesses are increasingly using teams as their fundamental organisational unit. This paper aims to explore the impact of demographic antecedents and the social‐network structure, measured in terms of task‐related advice‐network density, centralisation and fragmentation, on work‐team performance. The paper seeks to examine: the impact of the social‐network structure (dense, fragmented or centralised) on work‐team performance and the origins of the social structure. It also tests whether team diversity (in terms of variety with regard to gender and separation with regard to age and education) has an impact on team performance.

A survey was conducted on 76 work teams (499 employees) representing 48 different organisations.

With regard to the first question, density was positively related to team performance. The impact of advice‐network fragmentation was also positive, and this is in line with the results of other studies focusing on teams conducting standard tasks. In addressing the second question the paper explored whether diversity as variety (age) and diversity as separation (age and education) had an effect on the work team's social‐network structure. Age and education had no effect, but gender diversity was related negatively to density and positively to fragmentation. It was also related negatively to team performance.

The contribution of this research is twofold in that it explores social‐structure effects on team performance and examines the possible antecedents of the team's social structure. The results of the investigation strengthen the rationale behind integrating the literature on social‐network analysis and teams.

This paper aims to review the latest management developments across the globe and pinpoint practical implications from cutting-edge research and case studies.

This briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context.

This research paper concentrates on the effects of age diversity and tenure diversity in employee teams. Age separation in teams was revealed to slow down their work performance, while tenure variety accelerates a team's work performance. When diversity in age and tenure were both increased at the same time, the work speed decreased due to the learning process that ensued between people, and by communication clashes. Teams performing monotonous duties were less likely to perform to the desired level where there was a large age separation among the team members.

The briefing saves busy executives, strategists and researchers’ hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy-to-digest format.