Boardroom characteristics and forward-looking information disclosure: evidence from Ghana

Effah, Nana Adwoa Anokye; Kyei, Baffour Tutu; Kyeremeh, Gabriel; Ekor, Nash William Kudjo

doi:10.1108/cg-09-2021-0321

Cited by 7 publications

(6 citation statements)

References 56 publications

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“…Gender diversity is a strategic benefit that relates internal to external surroundings and, consequently, is a competitive benefit and performance booster (Githaiga and Kosgei, 2023). More women on boards could stimulate discussions among members since it is expected that there are gender differences in management roles and decision-making methods (Effah et al , 2022).…”

Section: Literature Review and Hypotheses Developmentmentioning

confidence: 99%

CEO characteristics and firm performance: evidence from a Southeast Asian country

Suherman

Mahfirah

Usman

et al. 2023

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Purpose The purpose of this study was to investigate how chief executive officer (CEO) characteristics, including age, education, nationality and particularly gender, influence firm performance in a developing Southeast Asian Country (Indonesia). Design/methodology/approach The study uses balanced firm-level panel data for 203 nonfinancial companies listed on the Indonesia Stock Exchange from 2010 to 2020. Return on assets, return on equity and Tobin’s Q were used to measure firm performance. The data were analyzed using panel data regression analysis, including a fixed effects model with clustered standard errors. Findings The results indicate that female CEOs, education and nationality enhance firm performance, while CEO age can either improve or reduce firm performance. Numerous robustness checks were performed; the results were consistent with those in the main analysis. Research limitations/implications Individual characteristics should be considered when appointing CEOs. Some CEO characteristics enhance firm performance. Female CEOs bring new perspectives, while older CEOs’ longer experience adds a competitive advantage. More educated CEOs have a better ability to deal with challenging intellectual activities, and CEOs from foreign countries better understand international market regulations. However, some characteristics may reduce firm performance, for example, older CEOs are more conservative and unable to adapt to changing business environments. Originality/value This study contributes to corporate governance studies by synthesizing CEO characteristics and investigating their relationship with firm performance. Moreover, it emphasizes that developing countries such as Indonesia have different economic, legal, social and cultural environments than developed countries, especially Western countries.

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Section: Literature Review and Hypotheses Developmentmentioning

confidence: 99%

CEO characteristics and firm performance: evidence from a Southeast Asian country

Suherman

Mahfirah

Usman

et al. 2023

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“…For instance, Dakhli (2022), in a study of 200 French-listed firms, observes that the presence of female directors on the board significantly reduces tax avoidance. Similarly, Effah et al (2022) reveal that female representation on board is positively associated with firm-level disclosure for a sample of listed firms in the Ghana stock exchange. Parallel observations were documented by Githaiga and Kosgei (2023) for a sample of 79 listed firms drawn from East African securities exchanges.…”

Section: Theoretical Background and Hypotheses Formulationmentioning

confidence: 87%

Female directors and firms’ financial performance: an empirical application of Kanter’s theory in the Indian context

Maji,

Saha

2023

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Purpose Given the relevance of female directors in the governance of any firm, this paper aims to examine their effect on firms’ financial performance by investigating their general impact and segregating the same into different subgroups based on Kanter’s theory. Design/methodology/approach To achieve the purpose, this study selects a sample of the top 100 listed Indian firms for the period of 2014–2018 and gathers the data pertaining to the variables under consideration from the respective firms’ annual report and corporate database Capitaline Plus. For undertaking the investigation, the authors have segregated the sample into three groups, i.e. firms with boards having less than 10% of female directors are called skewed boards; firms with boards having female directors that range from 10% to 20% are called as tilted board; and firms with boards having sizable representation of female directors of above 20%. To examine the performance impact of overall female directors and their different subgroups, the authors have used a generalized estimating equation model. For the robustness test, the authors have used the fixed-effect model. Findings The authors find a significant positive impact of the overall percentage of female directors on the financial performance of firms. Additionally, the results indicate that boards with a titled group of female directors and boards with a sizable representation of female directors significantly positively impact firms’ performance. However, the authors fail to extricate any significant performance impact of boards with a skewed group of female directors. Practical implications First, the study reveals that despite prevailing nepotism in India, female directors, owing to their core characteristics, can create a favorable perception of firms in the market. Second, it also works as an eye-opener for regulators by revealing the minimum threshold for female directors that a board should have to exploit the benefits of a gender quota rather than mere compliance with the requirements of the Companies Act, 2013. Third, it implies that more gender-diverse boards can improve a firm’s financial performance only if female directors range between the thresholds of 10% to 20%. Finally, the finding is significant for changing the business culture in India, where institutions are traditionally less supportive of women than in other emerging countries. Originality/value Departing from existing studies, which provide evidence on the performance impact of the overall percentage of female directors, the study unveils the differential impact of female directors on firms’ financial performance depending on their level of representation on the board. To the best of the authors’ knowledge, this is the first study in the context of an emerging market to test Kanter’s theory.

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“…Furthermore, another linked limitation of this study concerns the lack of investigation of the internal variables (e.g. strategic governance and operational controls, sustainability control systems, CEOs’ statements or characteristics of the corporate boards), and external variables that can significantly affect the sustainability reporting of firms (Githaiga and Kosgei, 2022; Raimo et al , 2022; Effah et al , 2022; Khan and Sulaiman, 2021; Nursimloo et al , 2020; Nazari et al , 2015).…”

Section: Discussionmentioning

confidence: 99%

SDGs disclosure: evidence from cruise corporations’ sustainability reporting

Vaio

Varriale

Λεκάκου

et al. 2023

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Purpose This study investigates how cruise corporations, which have shown consistent and high growth rates in recent years, address the Sustainable Development Goal 17 (SDG17) “Partnership for the Goals” to meet the UN 2030 Agenda. This study aims to fill the existent gap in the literature, as also highlighted by practitioners in the First Research Conference on Tourism, through the lens of stakeholder theory. Design/methodology/approach This study focuses on the analysis of partnerships and collaborative governance of cruise corporations’ endeavours to meet the UN 2030 Agenda. This study is supported by the sustainability disclosure framework and stakeholder theory, based on the dependence of resources and descriptive and instrumental approaches to describe, analyse and map, through multi-stakeholder partnerships, the sustainability initiatives and practices adopted by cruise corporations. A systematic manual content analysis has been developed on sustainability reporting published by corporations. Findings According to the descriptive and instrumental approaches and the dependence resources construct of the stakeholder theory, this study highlights the typology and nature of partnerships with SDGs, and their strategic role in achieving them, although cruise corporations do not highlight in their sustainability reporting the measures of effectiveness regarding the relationship between single partnerships and targets reached for each SDG. Practical implications Recommendations at the managerial level are put forward to support cruise corporations’ initiatives and practices to meet UN 2030 Agenda. This study suggests to governors of corporations the cooperation between the cruise industry and institutions at the local, national and international levels for promoting institutional interventions at the infrastructure and economic level. Originality/value This study provides further insights into the under-researched topic of sustainability disclosure within the cruise industry, adopting the lens of stakeholder theory from the partnerships’ perspective. To the best of the authors’ knowledge, this is the first study to adopt the analysis of the SDG practices under the lens of the stakeholder theory, based on the dependence of resources and descriptive and instrumental approaches to identify, map and analyse the multi-stakeholder partnerships as an enabling key to meet UN 2030 Agenda in the cruise industry.

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Boardroom characteristics and forward-looking information disclosure: evidence from Ghana

Cited by 7 publications

References 56 publications

CEO characteristics and firm performance: evidence from a Southeast Asian country

CEO characteristics and firm performance: evidence from a Southeast Asian country

Female directors and firms’ financial performance: an empirical application of Kanter’s theory in the Indian context

SDGs disclosure: evidence from cruise corporations’ sustainability reporting

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