Abstract
This paper analyses the relationship between board diversity and some board operating performance but also the relationship between board diversity and enterprise risk. The analyses, carried out on a sample of 249 Italian companies during the period 2006-2009, show that diversity affects the operating performance of the board. The results show a significant positive relationship between the presence of independent women board directors and the frequency of the board meetings, but a negative relationship between the number of meetings and the nationality diversity. With regard to the intermediate performance, there is a significant relationship with gender diversity. Besides, the analysis shows a negative relationship between firm systematic risk and number of foreign directors
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