Abstract
This study investigates the effect of the board of directors’ attributes on the corporate risk-taking of listed financial firms in Oman. A total of seven board attributes such as board ownership, shareholder ownership, CEO duality, board structure, audit committee independence, audit committee and board gender diversity are assimilated into an index for this study. The sample consists of 168 firm-year observations for financial firms listed on the Muscat Stock Exchange for the period 2016 to 2021. Before COVID, the board had no significant impact on corporate risk-taking. However, during COVID, a strong board took low risks indicating the appropriate assessment of the pandemic and cautiously steering the company activities. The result has important practical implications indicating that board attributes are crucial for crisis periods as they can help in navigating the company’s decision-making.
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