Purpose - Boards presently are considered the most critical component in improving corporate governance(CG). Board diversity is increasingly being recommended as a tool for enhancing firm performance. Academic research and regulatory action regarding board diversity are focussed mainly on gender...

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...