Corporate governance, female directors and quality of financial information

Pucheta‐Martínez, María Consuelo; Bel‐Oms, Inmaculada; Olcina‐Sempere, Gustau

doi:10.1111/beer.12123

Cited by 124 publications

(115 citation statements)

References 128 publications

(149 reference statements)

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“…In this regard, Srinidhi et al (2011) suggest that firms with gender-diverse audit committees have higher earnings and better reporting, which in turn enhance the confidence of external auditors in the firms' financial statements. Pucheta-Martínez et al (2016) find that the proportion of female directors, female independent directors on audit committees, and audit committees chaired by women is correlated with the probability of transparency in financial reporting, by disclosing audit reports with uncertainties and possible scope limitation. A recent study conducted by Gull et al (2018) in the French context shows that the presence of women on audit committees is negatively and significantly associated with earnings management.…”

Section: Gender-diverse Audit Committees and Audit Feesmentioning

confidence: 87%

“…Pucheta‐Martínez et al. () find that the proportion of female directors, female independent directors on audit committees, and audit committees chaired by women is correlated with the probability of transparency in financial reporting, by disclosing audit reports with uncertainties and possible scope limitation. A recent study conducted by Gull et al.…”

Section: Literature Review and Hypothesis Developmentmentioning

confidence: 99%

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Gender‐diverse boards and audit fees: What difference does gender quota legislation make?

Nekhili

Gull

Chtioui

et al. 2019

Business Fin & Account

137

135

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We investigate the effect of board (audit committee) gender diversity on audit fees in the French context. We also examine whether the relationship between the proportion of female directors and audit fees is moderated by the enactment of the gender quota law in 2011. We use the system GMM estimation approach on a matched sample of French firms listed in the SBF 120 index between 2002 and 2017. Consistent with the supply‐side perspective, we contend that female independent directors and female audit committee members, by improving board monitoring effectiveness, affect the auditor's assessment of audit risk, resulting in lower audit fees. Our findings also document that, by breaking the glass ceiling, the effectiveness of the gender quota law lies not in increasing the proportion of female insider directors, but in boosting the appointment of female independent directors and female audit committee members. Using the difference‐in‐difference approach, our results reveal that female independent directors and female audit committee members are more willing to assert their monitoring skills after the quota law, leading to lower audit fees. Moving beyond tokenism, we show that, after the quota law, the negative impact on non‐audit fees is strengthened only for female independent directors.

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Section: Gender-diverse Audit Committees and Audit Feesmentioning

confidence: 87%

Section: Literature Review and Hypothesis Developmentmentioning

confidence: 99%

Gender‐diverse boards and audit fees: What difference does gender quota legislation make?

Nekhili

Gull

Chtioui

et al. 2019

Business Fin & Account

137

135

View full text Add to dashboard Cite

show abstract

“…For example, women on boards are less likely to manipulate financial reporting and other disclosures (Heminway, 2007), they have a positive effect on the supervision of financial statements and on the board members' behaviour (Schwartz-Ziv, 2011;Abbott et al, 2012). Moreover, a higher percentage of women on audit committees reduces the probability of qualifications due to errors, non-compliance or omission of information (Pucheta-Martínez et al, 2016) and it improves financial reporting quality since the supervision of the financial statements is enhanced (Gul et al, 2008). Hypothesis 1b.…”

Section: Board Gender Diversitymentioning

confidence: 99%

Do Board Gender Diversity and Director Typology Impact CSR Reporting?

García

Gago

Antolín

2017

European Management Review

163

150

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By studying female directors and their typology, this paper contributes to the empirical evidence relating to board gender diversity and the disclosure of corporate social responsibility (CSR) information. An ordered random effect probit model was applied to a panel of Spanish non‐financial and non‐insurance listed firms over the 2009–2013 period. The analyses revealed that a higher percentage of women in boardrooms and in groups of outside and independent directors imply better CSR disclosure. These results hold for corporations with a critical mass of three women on the board and among outside directors.

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“…There is an increasing number of studies analysing the relevance of female board directors. This is because it has been demonstrated that their presence can improve financial reporting quality and the promotion of good business practices and strategic decisions for companies (Pucheta-Martínez, Bel-Oms, & Olcina-Sempere, 2016;Rogelberg & Rumery, 1996).…”

Section: Female Directors On Corporate Boardsmentioning

confidence: 99%

Varieties of capitalism, corporate governance mechanisms, and stakeholder engagement: An overview of coordinated and liberal market economies

Pucheta‐Martínez

Gallego‐Álvarez

Bel‐Oms

2019

Corp Soc Responsibility Env

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This paper examines those aspects of national institutions that affect corporate governance mechanisms at international level. The study uses the “varieties of capitalism” approach, which is concerned with the way companies interact strategically to solve the coordination problems arising from their activities. This research is based on a sample of countries operating in coordinated market economies and liberal market economies. The data were collected from the Thomson Reuters database. The findings suggest that the institutional context is associated with several corporate governance mechanisms. Specifically, our results find that the proportion of female directors on boards and the presence of corporate governance committees are higher in firms operating in liberal market economies than in those domiciled in coordinated market economies. Regarding the disclosure of corporate social responsibility information, the evidence shows that it is not affected by the varieties of capitalism measured, whereas board‐specific skills are higher in the latter than in the former. This paper offers empirical evidence at international level for the varieties of capitalism that contribute to better corporate governance structures. With regard to managerial implications, our findings show that belonging (or not) to a specific variety of capitalism impacts various mechanisms of corporate governance.

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Corporate governance, female directors and quality of financial information

Cited by 124 publications

References 128 publications

Gender‐diverse boards and audit fees: What difference does gender quota legislation make?

Gender‐diverse boards and audit fees: What difference does gender quota legislation make?

Do Board Gender Diversity and Director Typology Impact CSR Reporting?

Varieties of capitalism, corporate governance mechanisms, and stakeholder engagement: An overview of coordinated and liberal market economies

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