August 13, 2025

Does board of directors diversity affect company value? a study of manufacturing companies in indonesia

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Age diversity of the board has a significant positive impact on firm value, showing its importance in corporate governance.
The study analyzed 38 manufacturing companies listed on the Indonesia Stock Exchange, focusing on board diversity factors.
Descriptive analysis and panel data linear regression were employed to assess the relationship between board diversity and firm value.
Investors may benefit from recognizing how board age diversity enhances company valuation in manufacturing sectors.

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This analysis shows age diversity boosts firm value in manufacturing companies, indicating notable demographic effects on performance.

Nugraha et al. (2025) studied this question.

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