SCOPE AND LIMITATIONS This research was performed to find out the impact of age diversity of key executives

to financial risk tolerance of selected Philippine listed corporations in food, beverage and tobacco subsector for the comparative years 2009-2012. This study includes companies that are listed in the PSE website, http://www.pse.com.ph, under the food, beverage and tobacco subsector with available financial statements and available data regarding the composition of key executives from 2009-2012. Financial risk tolerance will be measured in this study through operating leverage, financial leverage, diversification, research and development expenditures and stock return volatility of the company.

Aspects regarding the size of the company, the educational attainment and gender diversity of the key executives, non-financial factors such as efficiency and effectiveness of operations and employees, company image, corporate social responsibility projects, were not taken into account. Moreover, the external environment such as the legal and economic aspects was not considered due to time and cost constraints and complexity of such factors.