Purpose This study aims to investigate how gender diversity and remuneration of boards of directors’ influence earnings quality for Spanish-listed firms. Design/methodology/approach The sample includes 105 nonfinancial Spanish firms from 2013 to 2018, corresponding to an unbalanced panel of 491 firm-year observations. The primary empirical method uses a Tobit semiparametric estimator with firm- and industry-level fixed effects and an innovative set of measures for earnings quality developed by StarMine. Findings Results exhibit a positive correlation between increased gender diversity and a firm’s earnings quality, suggesting that a gender-balanced board of directors is associated with more transparent financial reporting and informative earnings. We also find a nonmonotonic, concave relationship between board remuneration and earnings quality. This indicates that beyond a certain point, excessive board compensation leads to more opportunistic manipulation of financial reporting with subsequent degradation of earnings quality. Research limitations/implications This study only covers nonfinancial Spanish listed firms and is silent about how alternative board features’ influence earnings quality and their informativeness. Originality/value This study introduces measures of earnings quality developed by StarMine that have not been used in the empirical literature before as well as measures of board gender diversity applied to a suitable Tobit semiparametric estimator for fixed effects that improves the precision of results. In addition, while most of the literature focuses on Anglo-Saxon countries, this study discusses board gender diversity and board remuneration in the underexplored context of Spain. Moreover, the hand-collected data set comprising financial reports provides previously untested board features as well as a nonlinear relationship between remuneration and earnings quality that has not been thoroughly discussed before.

Cruise tourism is the fastest-growing branch of the tourism sector, and many have turned to it as a development strategy despite little systematic evidence of its equilibrium effects. I match 10.6 million automatic identification system (AIS) locations from 517 cruise ships arriving in 265 port destinations to 355,463 Demographic and Health Survey (DHS) women’s surveys in 23 countries to estimate cruise tourism’s relationship with women’s labor market participation and educational attainment. Using fixed effects to identify changes in tourism over time, I estimate that doubling cruise ship arrivals is associated with a 4.9-percentage point increase in labor participation and one-quarter more years of education. These results would be consistent with port cities offering more job opportunities for older women and increased opportunity and available income for education, possibly in anticipation of improved employment prospects.

We analyze the effect board activity and board remuneration has on earnings management (EM). Our results show that more active boards are inefficient in preventing earnings manipulation. Regarding board compensation we find a U-shaped relation indicating that excessive remuneration will lead to more earnings management. Policy recommendations are derived from the findings.

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