When Diversity Meets Experience: Unpacking the Tension between Board Diversity and CEO Experience in East African Listed Firms

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Board diversity significantly enhances financial performance in East African listed companies.
Having a CEO with prior experience can diminish the positive impact of board diversity on financial outcomes.
Increased female representation on boards improves the relationship between diversity and financial performance.
Diversity should not exceed 30 percent of board members to maintain effectiveness.

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Study reveals CEO experience moderates the positive effects of board diversity on financial performance in East Africa.

Mshana et al. (2025) studied this question.

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