Abstract
This study investigates (1) whether board age diversity affects company financial performance and risk and (2) whether diverse values held by directors of different ages is the underlying cause of any such effects via a sample of companies from Turkey, which has a collectivistic culture. The findings show that board age diversity has a negative effect on company performance, but do not suggest that intra-group conflicts in terms of values are the underlying causes of this negative effect. In addition, the findings show that board age diversity does not have an effect on company risk.
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