Diversity in the Boardroom: A Systematic and Interdisciplinary Review of the Literature

Diversity in the Boardroom: A Systematic and Interdisciplinary Review of the Literature provides reflections on the drivers and the consequences of more diverse boards. This work examines the meaning of "diversity", the methods and measures used to operationalize it, the drivers promoting it, its main consequences on board and firm outcomes, and the relationships it moderates. This systematic and interdisciplinary literature review synthesizes the most relevant studies on board diversity, highlighting major results and research gaps. Following the structured approach of previous literature reviews, the authors select empirical studies on board diversity published in accounting, business, finance, management, and organization journals. This interdisciplinary review makes three contributions to the literature on board diversity. First, it suggests multiple ways to enhance and expand the theoretical frameworks. Second, it identifies key methodological issues and proposes solutions to address them. Finally, it highlights several concerns regarding the operationalization of the diversity variable and outlines methods to resolve them.