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

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Descriptive analysis reveals the impact of board structure on risk-taking in extractive firms, suggesting policy reforms on female representation.

Board size negatively affects risk-taking in extractive firms, while female gender diversity positively influences it.
Independent directors interact with female board members to enhance risk-taking, but their overall impact is mixed.
Using data from 2019-2023, the study employs Fixed Effect Model and Two-stage Least Squares for analysis.
The findings indicate significant implications for policy reforms regarding female representation on boards.

Sumawe et al. (2025) studied this question.

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Descriptive analysis reveals the impact of board structure on risk-taking in extractive firms, suggesting policy reforms on female representation.