Does board diversity influence innovation? The impact of gender and age diversity on innovation types

Abstract

Abstract Previous research brought evidence of the influence of board composition for bringing strategic resources for innovation, as well as evidence of positive outcomes of board diversity. Only a few studies have investigated the effects of various indicators of board diversity on innovation. In this article, we will explore the relationship between several aspects of board diversity (gender and age) and four types of innovation, i.e. product, process, organizational, and marketing, from a sample of 176 French firms based on data from French Community Innovation Survey (CIS) in 2008 and annual reports. Our results show evidence of the influence of board diversity on all types of innovation except process innovation. We find significant evidence of a positive relationship between gender diversity on boards and marketing innovation, and a negative relationship between gender diversity and product innovation. Age diversity shows a positive relationship with product innovation, and a negative impact one on organizational innovation. Findings provide discussions for the impact of board diversity on innovation.

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