This paper examines the role of cultural diversity in bank boardrooms for the acquisition of innovation financial technology – or “FinTech” – firms. Using a sample of 808 banks from 2008-18 in 65 countries, we find that culturally diverse boards are more likely to pursue the acquisition of FinTech firms. We also show that bank-, country- and corporate governance-specific characteristics matter for FinTech acquisition. In particular, banks with older and more gender diverse boardrooms are more likely to acquire FinTech firms. Our paper assumes particular relevance for banks seeking to invest in digital technologies and to adapt to the new digital era.

中文翻译：

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银行为何收购金融科技？董事会文化多样性的作用


本文探讨了文化多样性在银行董事会收购创新金融技术（或“金融科技”）公司时的作用。通过使用 2008-18 年 65 个国家的 808 家银行的样本，我们发现文化多元化的董事会更有可能寻求收购金融科技公司。我们还表明，银行、国家和公司治理的具体特征对于金融科技收购很重要。特别是，董事会历史悠久且性别多元化的银行更有可能收购金融科技公司。我们的论文假设与寻求投资数字技术并适应新数字时代的银行特别相关。