Simona  Alfiero, Massimo  Cane, Ruggiero  Doronzo, Alfredo  Esposito, 
    Board Diversity and Efficiency Evaluation Evidence from
European Listed Manufacturing Companies,
    International Business Management,
    Volume 13,Issue 3,
    2019,
    Pages 92-100,
    ISSN 1993-5250,
    ibm.2019.92.100,
    (https://makhillpublications.co/view-article.php?doi=ibm.2019.92.100)
    Abstract: Board diversity can influence performance. Our research analyses the relationship between corporate
efficiency and board diversity in Eurospean listed manufacturing companies for the year 2015 (n = 451). In
particular we investigate the effects on profitability efficiency of gender inclusion, i.e., the inclusion of women
as well as Foreigners on boards as diversity management variables. In order to assess the profitability efficiency
we rely on a non-oriented, Slack-Based Model (SBM) for Data Envelopment Analysis (DEA) and a Logistic
regression analysis (Logit) to identify the effect of diversity management variables. The results demonstrate
that the increased presence of women on boards is associated with a higher probability for greater relative
efficiency in those countries without mandatory gender regulation. The increased presence of Foreigners on
boards, however is associated with a lower probability of above-average efficiency. To the best of our
knowledge, this is the first combined application of a non-oriented, SMB DEA Model and logistic regression.
    Keywords: Corporate performance;board diversity;gender diversity;national diversity;profitability efficiency;DEA