The Interplay between Board Characteristics, Financial Performance, and Risk Management Disclosure in the Financial Services Sector: New Empirical Evidence from Europe

Noja, Grațiela Georgiana; Thalassinos, Eleftherios; Cristea, Mirela; Grecu, Irina Maria

doi:10.3390/jrfm14020079

Cited by 29 publications

(31 citation statements)

References 43 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…According to Achkar and Bouri (2020), female participation in the workplace and involvement in a firm's management can increase company performance. Based on two well-known econometric techniques, namely structural equation modelling (SEM) and network analysis through Gaussian graphical models (GGMs), Noja et al (2021) highlight that upward board gender diversity is essential for higher corporate performance. According to Carter et al (2003), both female directors and minorities on the board of directors have a beneficial impact on firm value.…”

Section: Research Studies On the Relationship Between Board Gender Di...mentioning

confidence: 99%

Does Board Gender Diversity Really Improve Firm Performance? Evidence from Greek Listed Firms

Arvanitis

Varouchas

Agiomirgianakis

2022

JRFM

View full text Add to dashboard Cite

In recent decades, the contribution of board gender diversity to corporate performance has drawn the interest of researchers, politicians and regulators. This paper examines whether board gender diversity affected the financial performance of 111 Greek listed firms from 2008 to 2020. We use the two-step system GMM estimator to address the endogeneity problem, which is the appropriate method used in governance literature. Our main empirical finding supports the existence of a positive relation between board gender diversity and firm performance. This finding remains robust to three different proxies of gender diversity and under two alternative performance measures, i.e., return on assets and Tobin’s Q. We also find that there is an inverted U-shaped relation between the proportion of female directors and firm performance (measured by Tobin’s Q). Moreover, we find that gender diversity could lead to maximization of corporate performance when female participation in the boardroom reaches 33%. Thus, the imposition of an ad-hoc 25% female representation in corporate boardrooms, dictated by the new Law 4706/2020 on corporate governance, could most probably be an underproductive policy. Our findings have practical implications for Greek regulators and legislators and contribute to the governance literature for the case of companies that operate in a small open economy.

show abstract

Section: Research Studies On the Relationship Between Board Gender Di...mentioning

confidence: 99%

Does Board Gender Diversity Really Improve Firm Performance? Evidence from Greek Listed Firms

Arvanitis

Varouchas

Agiomirgianakis

2022

JRFM

View full text Add to dashboard Cite

show abstract

“…As a result, we control for the same person holding both the CEO and board chair positions by introducing a binary variable (CEODUAL) with the value of zero if the CEO is not a chairman and one otherwise. Females are often characterized by higher risk and inequality aversion than males, which affects their investment and operational decisions (Vandergrift and Brown 2005;Le et al 2011;Khan and Vieito 2013;Noja et al 2021). To address the above issue, we control for the gender of the CEO by introducing a dummy variable (GENDER) that equals zero if the CEO is male and one otherwise.…”

Section: Control Variablesmentioning

confidence: 99%

CEO–Employee Pay Gap, Productivity and Value Creation

Przychodzeń

Gómez‐Bezares

2021

JRFM

View full text Add to dashboard Cite

This study examines the effect of the CEO–employee pay gap on productivity and performance. Using extensive data of 751 constituents of the Standard and Poor’s (S&P) 1500 index between the years 1992–2016, we found a cubic relationship between salary differential and corporate productivity, with a rising gap adversely affecting productivity principally when it is both too low, as well as too high; intermediate pay inequality levels are less influential. A contrast in the productivity effects of the CEO–worker pay gap for firms with high average salaries and more employees was noticeable, whereas positive productivity gains were present even with a high salary gap. Thus, big companies with a highly skilled workforce are able to achieve tangible benefits through higher salary differentiation. On the other hand, companies with lower average salaries and lower capital intensity were characterized by the negative effects of wage dispersion on productivity. As a result, increasing inequality aversion is an important issue affecting performance among smaller, lower skilled labor dependent firms. Additionally, female CEOs had a significant and positive lagged effect on productivity. Finally, firm market valuation was positively stimulated by the increasing pay gap.

show abstract

“…Increased competition in the market means that customer service is often what differentiates a company, product, or service in the consumer's mind the most-it allows it to be successful on the market or is the cause of failure. In current fast-moving and technologyenabled business conditions, the urgency to stipulate that exceptional customer service is a more and more pivotal diversifier in the marketplace [2][3][4]. The results of the survey research conducted by [5] among 13 thousand customers in different branches signified that over 66% of the customers leave the transport service provider because of deficient quality of service.…”

Section: Introductionmentioning

confidence: 99%

Intelligent Transportation System Applications and Logistics Resources for Logistics Customer Service in Road Freight Transport Enterprises

et al. 2022

Self Cite

View full text Add to dashboard Cite

Road freight transport involves many adversities, along with the growing effect of carbon dioxide transmitted by vehicles on the natural environment, greenhouse gas emissions, or extensive energy use. Within the smart mobility concept, the acknowledged management of enterprises’ relationships with customers within their service is profoundly determined by the deployment of compelling Intelligent Transportation Systems (ITSs) applications in forming united cooperation with the customers. The paper proposes selected ITS applications as an advancement of logistics customer service in road freight transport enterprises that is divided into a group of six applications which are critical within the area of vehicle support, improving the energy efficiency of transport and reducing the negative impact of transport on the natural environment, reducing transport time but increasing connectivity and comfort, as well as a group of ten different applications chosen as crucial for general management support and increasing accessibility, cohesiveness, and control in management processes in road freight transport enterprises. The study also presents the effect of ITS applications on logistics customer service as dependent on an alignment between the group of ITS applications and logistics resources of road freight transport enterprises. The model proposed in the paper was analyzed based on the survey data obtained from 164 road freight transport enterprises in Poland.

show abstract

The Interplay between Board Characteristics, Financial Performance, and Risk Management Disclosure in the Financial Services Sector: New Empirical Evidence from Europe

Cited by 29 publications

References 43 publications

Does Board Gender Diversity Really Improve Firm Performance? Evidence from Greek Listed Firms

Does Board Gender Diversity Really Improve Firm Performance? Evidence from Greek Listed Firms

CEO–Employee Pay Gap, Productivity and Value Creation

Intelligent Transportation System Applications and Logistics Resources for Logistics Customer Service in Road Freight Transport Enterprises

Contact Info

Product

Resources

About