Report: Ethnic and Cultural Diversity May Boost Profits.

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Minorities still make up less than 20% of the occupants in the nation's boardrooms, and that may be bad news for companies with all-white boards when it comes to the bottom line.

A new study from McKinsey & Company found that companies with the most ethnic and cultural diversity in the boardroom were 43% more likely to experience higher profits.

"Ethnic and cultural diversity's correlation with outperformance on profitability was statistically significant at Board level," the report states.

The study also found a positive correlation between ethnic/ cultural diversity and value creation at both the executive team...