The Double-Edged Nature of Board Gender Diversity: Diversity, Firm Performance, and the Power of Women Directors as Predictors of Strategic Change
研究董事会性别多样性、公司绩效和女性董事权力如何共同影响战略变革程度，发现低绩效时高权力女性董事反而会阻碍变革，揭示多样性的双刃剑效应。
Diverse boards have been seen as providing impetus for initiating change. However, diversity may introduce conflict and impede decision making, which could hinder the ability of the firm to make strategic change, especially in times when firm performance is low. Integrating threat-rigidity theory and team diversity research, we examine how board gender diversity, firm performance, and the power of women directors interact to influence the amount of strategic change. Results support a three-way interaction, indicating that when the board is not experiencing a threat as a result of low firm performance and women directors have greater power, the relationship between board gender diversity and amount of strategic change is the most positive. However, when the board is threatened by low firm performance and women directors have greater power, the relationship between board gender diversity and amount of strategic change is the most negative. Results suggest that diversity is double-edged because it can propel or impede strategic change depending on firm performance and the power of women directors.