Board Gender Diversity and Firm Financial Performance: A Quantile Regression Analysis

Charles, Amélie; Đặng, Rey; Redor, Etienne

doi:10.1108/s1569-373220180000020002

Cited by 23 publications

(34 citation statements)

References 105 publications

(201 reference statements)

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“…2) The influence of CSR on company financial performance: The results of this research represent that CSR does not affect the company s financial performance. This finding is not in line with previous research which says that CSR has a positive and significant effect on a company s financial performance [24,19]. The results of this research are also not in accordance with research which says that CSR disclosure has a positive effect on ROA [25], besides that there are studies that say that CSR has a significant influence on Return On Assets [26][27][28].…”

Section: B Discussioncontrasting

confidence: 98%

“…Companies that participate in the CGPI rating always increase in quality and quantity every year, that means awareness about CG has improved. The CGPI variable has a significant effect on profitability [24]. This can be caused by the CGPI score being published to the general public so that the company s credibility increases, then the value of sales will increase and will have an impact on increasing company profits.…”

Section: B Discussionmentioning

confidence: 99%

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Corporate Governance, Corporate Social Responsibility and Financial Performance, CGPI Award in Indonesia

Fabiani¹,

Breliastiti²

2020

Proceedings of the International Conference on Management, Accounting, and Economy (ICMAE 2020)

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This study aims to determine how the influence of Corporate Governance (CG) and Corporate Social Responsibility (CSR) on the company s financial performance. The Corporate Governance Perception Index (CGPI) ranking score is used to measure the CG mechanism, seventeen goals from Sustainable Development Goals (SDGs) are used to measure CSR, and Return on Assets (ROA) are used to measure financial performance. The sample used as many as 28 companies were following CGPI program and listed in Indonesia Stock Exchange. Descriptive statistical tests, classic assumption tests and hypothesis testing are the analytical methods used in this study.The findings in this study indicate that CG has an influence on the company's financial performance. By implementing good governance, companies tend to have higher values as well. With the Good CG, the company s performance becomes more efficient so that the company has the opportunity to generate greater profits. The next finding is that the company s financial performance is not influenced by CSR. This can be caused because in this study CSR is proxied using SDGs, where the application of SDGs as a basis for measurement in this research is still in transition so it has not yet impacted ROA because the duration of the year is still relatively new. The use of SGDs to measure CSR is a novelty of this study, while other studies usually use GRI as a measure of CSR. The relatively new SDGs implementation can be an alternative measurement for CSR which shows that the company s CSR activities are in line with the achievement of SGDs.

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Section: B Discussioncontrasting

confidence: 98%

Section: B Discussionmentioning

confidence: 99%

Corporate Governance, Corporate Social Responsibility and Financial Performance, CGPI Award in Indonesia

Fabiani¹,

Breliastiti²

2020

Proceedings of the International Conference on Management, Accounting, and Economy (ICMAE 2020)

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“…For instance, in terms of reverse causality, it is believed that firms that are performing well may employ more diverse board of directors and also a diverse board of directors can also impact firm performance (Hermalin and Weisbach, 2003; Carter et al , 2010; Adams, 2017). According to Charles et al (2018), a failure to take into consideration this endogeneity issue in corporate governance studies may result in misleading results and inaccurate interpretations.…”

Section: Comparative Analysismentioning

confidence: 99%

Board Characteristics and performance of listed firms in Ghana

Andoh

Abugri²,

Anarfo³

2022

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Purpose This study aims to compare the impact of board characteristics on the performance of listed non-financial firms to the impact of board characteristics on the performance of listed financial firms (commercial banks) in Ghana. Design/methodology/approach The fixed and random effects models with generalized least square specifications are used in estimating regressions to correct for heteroscedasticity and serial correlation. Additionally, this study uses lagged models of the board variables to address the possibility of the presence of endogeneity and to generate robust estimates. Findings The empirical results show some similarities and differences on the impact of board characteristics on the performance of listed non-financial firms and banks. On similarities, for both non-financial firms and banks, board size is seen to have a significant non-linear impact on Tobin’s q. Also, the proportion of foreign board members shows a positively significant relationship with firm performance for both listed non-financial firms and banks. The effect of the proportion of board members with higher educational qualifications on firm performance appears to be negative and statistically significant for both sample of firms. On the other hand, the impact of board composition and board gender diversity on firm performance differs from listed banks and non-financial firms. Research limitations/implications The panel regressions for the listed banks were run on 63 observations because of the small sample size for the listed banks. Though enough for estimation purposes, inferences from results should be made with caution. Originality/value This paper, unlike most corporate governance – firm performance studies, focuses not only on listed non-financial firms but also on listed banks. From a multi-theoretical perspective, this paper provides a comparative analysis on the impact of board characteristics on financial performance of listed non-financial firms and banks.

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“…The number of board members of commissioners has a negative impact on ROA because the smaller the board of commissioners is when making decisions, the better; as a result, supervision becomes effective and leads to better performance and gender [1]. At the same time, another result shows the size of the board of commissioners does not affect ROA [2][3][4][5].…”

Section: Introductionmentioning

confidence: 99%

“…The presence of female commissioners and the proportion of female commissioners can explain gender diversity. The presence of Female commissioners positively affects company performance [3,5]. Female commissioners tend to be more careful and avoid risk than male commissioners and female commissioners also often propose less aggressive strategies and more sustainable investment criteria [10,11].…”

Section: Introductionmentioning

confidence: 99%

The Influence of Good Corporate Governance through the Gender Diversity on Firm Performance

Riyanti¹,

Murhadi²,

Utami³

2022

Advances in Economics, Business and Management Research

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The objective of this study is to look at how board size, board gender diversity, independent commissioners, leverage, and firm size affect firm performance in manufacturing companies in Indonesia Stock Exchange and the Philippines Stock Exchange. This study used a quantitative approach with two least square regression analysis models and a sample of manufacturing sector companies listed on the Indonesia Stock Exchange and the Philippines Stock Exchange, with a total of 100 business entities and 480 observations. This study used the presence of female commissioners and the proportion of female commissioners to measure board gender diversity. According to the findings of this study, independent commissioners in Indonesia have a significantly positive effect on return on assets, female commissioners in Indonesia have a significant adverse effect on return on assets, and Tobin’s Q, both leverage in Indonesia and firm size in the Philippines have a significant adverse effect on return on assets. Meanwhile, leverage in Indonesia has a significant negative effect on Tobin’s Q, as does board size in Indonesia and firm size in Indonesia and the Philippines.

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Board Gender Diversity and Firm Financial Performance: A Quantile Regression Analysis

Cited by 23 publications

References 105 publications

Corporate Governance, Corporate Social Responsibility and Financial Performance, CGPI Award in Indonesia

Corporate Governance, Corporate Social Responsibility and Financial Performance, CGPI Award in Indonesia

Board Characteristics and performance of listed firms in Ghana

The Influence of Good Corporate Governance through the Gender Diversity on Firm Performance

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