Executive stock options, gender diversity in the top management team, and firm risk taking

Baixauli‐Soler, J. Samuel; Belda‐Ruiz, María; Marín, Gregorio Sánchez

doi:10.1016/j.jbusres.2014.06.003

Cited by 99 publications

(51 citation statements)

References 83 publications

Supporting

Mentioning

Contrasting

Unclassified

Order By: Relevance

“…In doing so, our work also provides additional insights into the effects of gender diversity in the upper echelons of organizations. A large number of empirical studies have shown that the inclusion of women into top management teams and boards can have a substantial effect on a variety of organizational outcomes such as financial performance (Post and Byron 2015), risk taking (Baixauli-Soler et al 2015), and financial fraud (Cumming et al 2015). Our research complements this prior work by helping to open the "black box" concerning the group processes that link group gender composition and the quality of group decisions.…”

Section: Introductionmentioning

confidence: 64%

Gender Composition and Group Confidence Judgment: The Perils of All-Male Groups

Keck

Tang

2018

Management Science

View full text Add to dashboard Cite

We explore the joint effects of group decision making and group gender composition on the calibration of confidence judgments. Participants in two laboratory experiments, individually and in groups of three, stated confidence interval estimates for general-knowledge questions and for financial forecasts. Across both studies, our results reveal that groups with at least one female member are significantly better calibrated than all-male groups. This effect is mediated by the extent to which group members share opinions and information during the group discussion. Moreover, we find that compared to a statistical aggregation of individual confidence intervals, group discussions have a neutral or positive effect on the quality of confidence judgments for groups with at least one female group member; in contrast, group discussion actually harms confidence calibration for all-male groups. Overall, our findings indicate that compared to all-male groups, even the inclusion of a small proportion of female members can have a strong effect on the quality of group confidence judgment. History: Accepted by Yuval Rottenstreich, judgment and decision making.

show abstract

Section: Introductionmentioning

confidence: 64%

Gender Composition and Group Confidence Judgment: The Perils of All-Male Groups

Keck

Tang

2018

Management Science

View full text Add to dashboard Cite

show abstract

“…Women have been proven to be generally less hard achievers, less power-oriented (Adams & Funk, 2012) and less powerhungry than men (Schuh, Hernandez-Bark, Van Quaquebeke, Hossiep, Frieg, & Van Dick, 2014). Women sometimes even demonstrate more conservative behavior in boards and managerial decision making (Baixauli-Soler, Belda-Ruiz, & Sanchez-Marin, 2015).…”

Section: Supply-side Barriersmentioning

confidence: 99%

Searching for Women on Boards: An Analysis from the Supply and Demand Perspective

Gabaldón

Anca

Cabo

et al. 2015

Corporate Governance

141

110

View full text Add to dashboard Cite

Manuscript Type: ReviewResearch Question/Issue: This paper seeks to provide a systematic review of the multidisciplinary theoretical approaches to women on boards in order to understand the factors that hinder and facilitate the access of women to boards, to show the instruments that can be used to promote women to senior corporate positions, and to outline a research agenda suggesting gaps that still need to be filled. Research Finding/Results: Women's access to boards appears to be fragmented in research silos from a variety of areas, lacking a comprehensive view that provides instruments to overcome the barriers hindering the access of women to corporate boards. More in particular, this paper has found very little scientific analysis to understand what instruments can be the most efficient in eliminating barriers for women to reach boardrooms given different cultural environments. Theoretical Implications: This paper aims to create a comprehensive framework for understanding the presence of women on boards and for indicating existing gaps to be filled by new research in the future. This framework will help future researchers in analyzing specific instruments and to measure their efficiency in eliminating gender imbalance. Depending on the approach taken for research, the theoretical backgrounds used vary. While on the supply side the predominant theories are gender role theory, gender self-schema, and work-family conflict, the demand side is based on gender discrimination, human and social capital theory, resource dependence theory, and institutional environment theory. Practical Implications: This research provides suggestions to typify causes and provide nuanced policy tools to promote women into leadership positions. Future lines of research are proposed to fill the gaps in understanding female representation in top management positions.

show abstract

“…We argue that in a typical emerging market like Africa, which is bank based and exhibits weak corporate governance practices, executive pay emerging from successful completion of M&A deals will be predominantly cash based due to relatively inactive capital market. Unlike previous studies that focus only on chief executive officers (CEOs; Baixauli‐Soler, Belda‐Ruiz, & Sanchez‐Marin, ; Sanders & Hambrick, ), we provide robust evidence of the impact of various compensation types (cash, equity, and total pay) for top management on diverse firm risk measures after the merger.…”

Section: Introductionmentioning

confidence: 58%

“…Baixauli-Soler, Belda-Ruiz, & Sanchez-Marin, 2015;Sanders & Hambrick, 2007), we provide robust evidence of the impact of various compensation types (cash, equity, and total pay) for top management on diverse firm risk measures after the merger.…”

Section: Introductionmentioning

confidence: 77%

Executive compensation and firm risk after successful mergers and acquisitions in Africa

Amewu

Alagidede

2019

Manage Decis Econ

View full text Add to dashboard Cite

This paper examines the impact of various executive compensation types on the postmerger risk taking by firm's executives. We find that executive pay influences firm risk differently depending on compensation type and risk measure. Specifically, we find that rewarding executives with cash compensation reduces the total postmerger risk of acquirers. However, managers are motivated to increase systematic risk when they are rewarded with stock‐based incentives. Besides, based on the argument that managerial compensation portfolio might impact systematic and unsystematic risks differently, our findings show no evidence of the impact of executive pay on unsystematic risk.

show abstract

Executive stock options, gender diversity in the top management team, and firm risk taking

Cited by 99 publications

References 83 publications

Gender Composition and Group Confidence Judgment: The Perils of All-Male Groups

Gender Composition and Group Confidence Judgment: The Perils of All-Male Groups

Searching for Women on Boards: An Analysis from the Supply and Demand Perspective

Executive compensation and firm risk after successful mergers and acquisitions in Africa

Contact Info

Product

Resources

About