When Diversity Meets Experience: Unpacking the Tension between Board Diversity and CEO Experience in East African Listed Firms

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dc.contributor.authorMshana, Peter D.
dc.contributor.authorDendula, James M.
dc.contributor.authorMarwa, Alex R.
dc.date.accessioned2025-10-27T09:55:40Z
dc.date.available2025-10-27T09:55:40Z
dc.date.issued2025-07-25
dc.description.abstractCorporate governance is essential for the achievement of a company’s objectives as a way of mitigating agency problems. This study explored the influence of board diversity on the financial performance of East African listed companies and the moderating role of CEO Experience. Our study utilized secondary data from the East African stock exchange markets: the Nairobi Stock Exchange, the Dar es Salaam Stock Exchange, the Uganda Stock Exchange, and the Rwanda Stock Exchange. Our sample included 36 listed nonfinancial companies in East Africa, making a total of 325 observations. We employed fixed-effects regression analysis to investigate the relationship. Our primary finding shows that board diversity positively and significantly influences the financial performance of East Africa-listed companies. Additional analysis reveals that a CEO with prior experience weakens the influence of diversity on financial performance. Our findings are robust to alternative measures of diversity. More female directors improve the influence of diversity on financial performance. However, it should not exceed 30 percent of the board members. This study contributes theoretically to corporate governance literature and informs policymakers on the crucial role of diversity on the board in East Africa.
dc.identifier.issn2591-6815
dc.identifier.urihttps://repository.tia.ac.tz/handle/123456789/233
dc.language.isoen
dc.publisherAfrican Journal of Accounting and Social Science Studies (AJASSS)
dc.relation.ispartofseriesVol. 7; Issue No. 1
dc.subjectCorporate Governance
dc.subjectDiversity
dc.subjectCEO Experience
dc.subjectPerformance
dc.subjectAgency Theory
dc.subjectCritical Mass Theory
dc.subjectEast Africa
dc.titleWhen Diversity Meets Experience: Unpacking the Tension between Board Diversity and CEO Experience in East African Listed Firms
dc.typeArticle

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