This paper examines whether board gender diversity affects corporate cash holdings using S&P 1500 index firms in the US for the period 2006-2015. We document a significantly negative relationship between board gender diversity and cash holdings. We also find a strong negative effect of female independent directors consistent with monitoring function. Moreover, in accordance with the critical mass theory, we find a negative effect of female directors' presence and voice on cash holdings. Our findings are robust to alternative econometric specifications, alternative measures of cash holdings and corporate governance, difference-in-differences, propensity score matching, and two-stage least squares. This study offers useful insights into the current global debate on gender diversity and its implications for firms. K E Y W O R D Scash holdings, corporate governance, gender diversity

We present cone reflectivity as a metric that can be used to characterize cone structure in ACHM. This method may be applicable to subjects with other cone disorders. In ACHM, we hypothesize that cone numerosity (and/or density) combined with cone reflectivity could be used to gauge the therapeutic potential. As gene replacement would not be expected to add cones, reflectivity could be a more powerful AO-metric for monitoring the cellular response to treatment and could provide a more immediate indicator of efficacy than behavioral measures, which may take longer to change.

Our newly constructed index of corporate governance quality (CGQ) provides comprehensive and robust evidence for the association between CGQ and stock liquidity in the pure order-driven Australia market. By using a large sample of 1,207 firms from 2001 to 2013, we find a significant positive relationship between CGQ and stock liquidity, suggesting that better governed firms have greatly improved stock liquidity. Specifically, we find that better governed firms have a lower trading cost, smaller price impacts of trade, and higher trading speed. Moreover, the empirical results reveal that CGQ improves stock liquidity because it is associated with higher information disclosure.

Highlights d AD and DS mice display aberrant 12-to 20-Hz oscillations associated with epileptic spikes d GluN2A-NMDAR enhancement reduces aberrant oscillations and spikes in AD and DS mice d Chronic GluN2A-NMDAR activation improves cognitive functions in AD and DS mice d GluN2A PAMs could benefit brain disorders with hypersynchrony and cognitive deficits

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