Board Structure and Risk-taking in the Extractive Industry in Kenya

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Descriptive analysis shows board size impacts risk-taking in firms on the Nairobi Securities Exchange, suggesting policy reforms.

Boards with larger sizes show a negative impact on firm risk-taking, indicating size matters for risk management.
The presence of female directors shows a positive correlation with risk-taking, highlighting diversity benefits.
Independent directors' relationship with risk-taking presents mixed results, prompting further investigation.
Policy implications suggest enhancing female representation on boards could improve risk outcomes in extractive firms.

Sumawe et al. (2025) studied this question.

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