We examine the impact of governance reforms related to board diversity on the performance of EU banks. Using a difference-in-difference approach, we document that reforms increase bank stock returns up to two years after their introduction. We find that the impact is similar across mandatory and...

We examine the impact of board heterogeneity on the performance of EU listed banks in the wake of the global financial crisis. In a comprehensive set-up, we consider standard board features (type, tenure, size, and age of board members) as well as board diversity features (gender diversity,...