Sex Matters: Gender Differences in a Professional Setting

Niessen-Ruenzi, Alexandra; Ruenzi, Stefan

doi:10.2139/ssrn.966243

Cited by 8 publications

(4 citation statements)

References 39 publications

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“…The most popular traditional investment options are gold and bank deposits, but the most favourable are the mutual fund investment as they are wellliked among financial investment options. [15][16][17][18] As per Joseph et.al (2020) women who are employed rarely purchase shares and mutual funds. They invest in banks by means of the conventional methods, such as fixed deposits and savings accounts.…”

Section: Literature Reviewmentioning

confidence: 96%

Are women more risk-Averse than men regarding investment decision?

Sengupta,

Mitra

2024

JMRA

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This paper emphasizes the significance of how gender influences the decision of an individual while taking investment decisions. It investigates the possible impact of gender on investment behavior, risk tolerance, and preferred investment avenues. Prior research has investigated of female investors having lower risk tolerance than men and tends to steer clear of high-risk investment options. The study made an effort to highlight the disparities between men's and women's investing options and risk tolerance. Differential gender-based investing patterns have been shaped by cultural expectations and traditional gender stereotypes. In several past literatures women have always been underestimated by researchers in the magnitude of investment decision making as several past papers have shown they have encountered various social stigma and that are the possible reasons which have a greater impact on their investment choices. According to research, women frequently have more risk-averse attitudes than men do when it comes to their financial activities. In our present research paper we clearly get a striking disparity in the investment options and a remarkably distinct tolerance level for risk aptitude for male and female investors.

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Section: Literature Reviewmentioning

confidence: 96%

Are women more risk-Averse than men regarding investment decision?

Sengupta,

Mitra

2024

JMRA

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“…However, given the risk aversion associated with female directors, they may prefer to diversify a firm's revenue streams (Bajtelsmit & Van Derhei, 1997; Byrnes et al, 1999; Charness & Gneezy, 2012; Gneezy & Rustichini, 2004; Niessen & Ruenzi, 2007; Yuh & Hanna, 1997). This implies that companies with more female directors may favor diversifying acquisitions to strategically reduce the volatility of earnings, which reduces firm risk and the probability of financial distress.…”

Section: Literature Review and Research Questionsmentioning

confidence: 99%

Board gender diversity and acquisition choices

Gunasekarage

Khedmati

Minnick

et al. 2023

J of Financial Research

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We investigate the influence of gender diversity on the acquisition choices of bidding firms and find that firms with greater gender diversity are more likely to acquire nonlisted targets, use cash as the method of payment, and purchase firms in similar industries. Results show that these preferences are significantly influenced by female directors' financial expertise, target industry experience, mergers and acquisitions (M&A) experience, academic and professional qualifications, and networks. The percentage of female directors on boards is positively correlated with the market response to the announcement of acquisition choices preferred by female directors. Furthermore, bidders improve efficiency and accumulate long‐term value gains through the contributions made by their female directors to these acquisition choices.

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“…Risk aversion can encourage women to take action to stop risky projects by reducing inefficiencies in the capital allocation process (Faccio et al , 2016). In addition, women invest less in high-risk assets and follow less extreme investment strategies (Niessen and Ruenzi, 2007). Huang and Kisgen (2013) suggest that firms with women on the board are less likely to make acquisitions and issue less debt.…”

Section: Literature Review and Hypothesesmentioning

confidence: 99%

Do women board members affect dividend policy and cash holdings? Evidence from ASEAN emerging economies

Nadia

Hanafi²

2022

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Purpose This study aims to examine the influence of board gender diversity on dividend policy and cash holdings in several emerging economies. This study also investigates the nonlinear impact of women on dividend policy and cash holdings and the differences between countries with one- and two-tier board systems. Design/methodology/approach The sample includes 103 firms listed in the Association of South East Asian Nations (ASEAN) countries of Indonesia, Malaysia, the Philippines and Thailand. The data represent all industries except the financial industry. The sample period is the 10 financial years from 2010 to 2019. This study analyzed unbalanced panel data with fixed effect specifications for baseline model analysis. Findings This study finds robust evidence indicating that women’s presence negatively influences dividends and positively influences cash holdings. The findings in the additional analysis are significant and show a nonlinear relationship, supporting the substitution hypothesis. Practical implications The findings of this paper certainly provided a valuable contribution as a useful empirical guide for policy decision-makers in developing countries, regulators and corporate decision-makers related to board gender diversity. Developed countries have implemented a minimum quota of women boards in the composition of the board of directors. However, there are still few developing countries that implement these policies. Women can reflect or show their values in corporate governance, such as being careful in making decisions and being conservative about risk. These guides policymakers in implementing a minimum quota of women in the composition of the board of directors. Originality/value This study contributes to the debate on the impact of gender diversity on dividends and cash holdings, especially in ASEAN emerging economies because there is a notable empirical gap relative to developed countries. Moreover, this study contributes to the necessary nuanced understanding of the substitution hypothesis in emerging economies. The results also support the explanation of critical mass theory to account for the nonlinear relationship between the number of women board members and dividends and cash holdings.

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Sex Matters: Gender Differences in a Professional Setting

Cited by 8 publications

References 39 publications

Are women more risk-Averse than men regarding investment decision?

Are women more risk-Averse than men regarding investment decision?

Board gender diversity and acquisition choices

Do women board members affect dividend policy and cash holdings? Evidence from ASEAN emerging economies

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