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LAST, FIRST_CMP9601B-8-1 2

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Create an Annotated Bibliography for Selected Topic

CMP-9601B Assignment # 1

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Professor

9 December 2019

Workforce diversity covers a wide range of areas including gender, age, ethnicity, and race. Many researchers have come up with studies that focus on various types of diversity in the workplace and their effects. Below is an annotated bibliography of past researches that were conducted on various elements of diversity in the financial service sector. Three of the articles talk about gender diversity in the banking sector, while one talks about how to improve workforce diversity in banks. The remaining article talks about the effects of workforce diversity on employee performance.

García-Meca, E., García-Sánchez, I., & Martínez-Ferrero, J. (2015). Board diversity and its effects on bank performance: An international analysis. Journal Of Banking & Finance, 53, 202-214. doi: 10.1016/j.jbankfin.2014.12.002

This article shows the effects of board diversity, gender, and nationality, on the performance of the bank. This study focused on the board because they play a vital role in steering the performance of the bank. This research was built on two hypotheses; that gender diversity does not affect the performance of the bank and that the board nationality diversity does not affect the performance of the bank. To test this, 159 banks from nine different countries were put under observation between 2004 and 2010. Out of this research, 877 observations were recorded. Throughout this period, the characteristics of the board members were noted from the Spencer & Stuart Board Index databases. On the other hand, data and information used to measure performance were derived from the Compustat database.

The results of this study suggested that the type of diversity may have different effects on the bank’s performance. Specifically, it suggested that nationality diversity in the board had negative effects on the bank's performance, while on the other hand gender diversity proved to have positive effects on the work performed. This research study is very useful to financial institutions especially when it comes to the appointment of board members while ensuring diversity.

Thanh Tu, T., Huu Loi, H., & Hoang Yen, T. (2019). Relationship between Gender Diversity on Boards and Firm’s Performance - Case Study about ASEAN Banking Sector. Doi: 10.5430/ijfr.v6n2p150

This is a study that aims to get the relationship between gender diversity in the board of management and directors, and job performance in the banking industry. The study focused on the ASEAN banking system, which consists of countries with growing development but low rates of gender diversity. The study incorporated a literature review from past researches and afterward a research process that they conducted. The methodology involved a sample of 100 banks from 4 countries, in a period of 4 years. Information for these banks in the period of observation was derived from databases. In three of the selected countries, the results showed that women’s presence on the board led to higher profitability. The remaining which showed negative implications of women being on the board of directors revealed these kinds of results due to other factors like economic and cultural background.

The results obtained from the data were scientifically analyzed to give a conclusion. However, further research should be conducted on the same, focusing on different countries to get a conclusive theoretical explanation of this relationship. It is, however, clear that diversity in terms of gender has positive implications on the performance of the bank.

Kramaric, T., & Pervan, M. (2016). Does Board Structure Affect the Performance of Croatian Banks?. Journal Of Financial Studies And Research, 1-11. doi: 10.5171/2016.158535

This study was aimed at analyzing how and the extent to which board structure influences a bank’s performance. The board structure being analyzed was the gender of the president, female members in the management board, board size and supervisory board female members. The study involved a sample study that focused on the banking sector in Croatia. The research focused on all Croatian banks that were active between 2002 and 2013. To measure the performance of the bank, Return on Equity was employed as a variable. From the results, the gender of the president did not affect the performance of the bank. On the contrary, the analysis from the results showed that gender diversity affected the bank’s performance negatively. Also, the researchers concluded that the call for gender diversity was not derived from the need for job performance, but rather from sociological needs.

Nunley, J., Pugh, A., Romero, N., & Seals, R. (2015). Racial Discrimination in the Labor Market for Recent College Graduates: Evidence from a Field Experiment. The B.E. Journal Of Economic Analysis & Policy, 15(3), 1093-1125. doi: 10.1515/bejeap-2014-0082

This article is aimed at presenting experimental evidence on racial discrimination among graduates. The study involved random creation of resumes that were sent to different online advertisements, in various economic sectors, including banking, finance, and management. The resumes were sent to seven different cities in the U.S. Eight names were used for the whole process, in which there were four males and four females. Additionally, among the four males and female names, two were white names and two were black female names. For each advertisement, four resumes were sent, maintaining equality among white and black names. The results observed were analyzed using the regression method. It was observed that out of all the applications, black applicants received fewer invitations for an interview as compared to white applicants. Also, racial discrimination was seen more on the jobs that required more interaction with customers. One strength of this research study is that it ensured uniformity among the participants and the resumes were distributed evenly in the different organizations. This uniformity ensures the accuracy of the study. It creates a need for further study changing other factors like the type of degree.

Flory, J., Leibbrandt, A., Rott, C., & Stoddard, O. (2019). Increasing Workplace Diversity: Evidence from a Recruiting Experiment at a Fortune 500 Company. Journal Of Human Resources, 0518-9489R1. doi: 10.3368/jhr.56.1.0518-9489r1

This article contains a research study conducted to show how workplace diversity can be enhanced. It emphasizes the need for diversity in the workplace. The need for this study was triggered by the fact that minority groups like Hispanic and black Americans are underrepresented in leadership roles. This research involved the use of experiments to test hypotheses related to effective ways of attracting minority groups in top professions. The three hypotheses used include: making diversity an organizational value, attracting employees from different fields of training and including factual information to support claims on diversity. The experiment design used in this research involved a firm that intends to recruit fresh graduates into its program in careers in financial services. This process involves the sending of advertisements to various networks where applicants get the links that guide them to the application process. Once the click on the link, applicants are required to fill their names after which they are subjected to random treatments. These treatments involve the use of certain messages that may influence the applicants. Different types of signals were sent to the applicants, and the results were analyzed to determine how effective the signals were on the minority groups based on The results from this study suggested that signals addressing workplace diversity have a great impact on the people applying for jobs, especially in the financial industry. This research study creates a need for further research on other ways that can be used to attract diversity in the workplace. This is because diversity in the workplace is an area of major concern today.

Rizwan, M., Khan, M. N., Nadeem, B., & Abbas, Q. (2016). The impact of workforce diversity on employee performance: Evidence from the banking sector of Pakistan. American Journal of Marketing Research, 2(2), 53-60.

Workforce diversity can be achieved in various forms like age diversity, ethnicity, and gender diversity. Diversity has been proved to have positive outcomes for any organization. Therefore, this article focuses on research that was conducted to determine the effect of diversity on the performance of employees, in the banking industry in Pakistan. Among many other questions, this research sought to answer the relationship between workforce diversity and employee performance. The technique used to conduct this research was a random sampling method that involved the distribution of questionnaires to participants from different banks in Lahore. The data collected was analyzed using the regression analysis. The results showed that ethnicity has a positive impact on employee performance. An increase in ethnicity diversity increases employee performance. This research created opportunities for further research to be conducted on the same. This will help in the making of informed decisions especially by human resource management during recruitments. Also, further research should be conducted on other minority groups like the physically challenged to reduce discrimination during recruitment. However, the study conducted is significant because it has focused on a specific effect, employee performance, which results from diversity. Other potential effects of diversity include employee turnover and employee satisfaction.

From the annotated bibliography, it is clear that work force diversity has an impact on the performance of any organization. One of the gaps created in this literature is that gender diversity creates negative impacts while other articles have shown positive impact. Thus, my research topic will focus on gender diversity, as one of the work force diversity, and how it affects performance of an organization.

References

Kramaric, T., & Pervan, M. (2016). Does Board Structure Affect the Performance of Croatian Banks?. Journal Of Financial Studies And Research, 1-11. doi: 10.5171/2016.158535

Thanh Tu, T., Huu Loi, H., & Hoang Yen, T. (2019). Relationship between Gender Diversity on Boards and Firm’s Performance - Case Study about ASEAN Banking Sector. Doi: 10.5430/ijfr.v6n2p150