Women on corporate boards and firm financial performance: Empirical evidence from a multi‐country in Asia

Tran, Thu Huong; Nguyen, Thanh Si; Lien, Mai Le Truc

doi:10.1002/bsd2.340

Cited by 3 publications

References 66 publications

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The Impact of Board Gender Diversity Commitment on Firm Performance Moderated by Board Characteristics: Evidence From Sustainable European Firms and Financial Orientation

Bel‐Oms,

Grau‐Grau,

Núñez‐Almonte

2024

Bus Strat Dev

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The main goal of this study is to explore the moderating role of board gender diversity on the relationship between CEO duality, board size, board meetings, and firm performance in sustainable companies. This study examines the 120 most sustainable European firms listed in the EuroNext Vigeo Europe 120 Index from 2012 to 2021, with the findings showing that board gender diversity negatively moderates the relationship between CEO duality and firm performance, while positively moderating board meetings' impact. Furthermore, in banking‐oriented countries, board gender diversity positively moderates the relationship between board meetings and firm performance, while these effects are not significant in market‐oriented countries. The paper highlights that despite progress in increasing representation, mechanisms to ensure effective female participation in board decision‐making are required. This study is the first to examine how board gender diversity moderates the impact of board characteristics and CEO duality on sustainable firm performance in different financial orientations.

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The Impact of Board Gender Diversity Commitment on Firm Performance Moderated by Board Characteristics: Evidence From Sustainable European Firms and Financial Orientation

Bel‐Oms,

Grau‐Grau,

Núñez‐Almonte

2024

Bus Strat Dev

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Does corporate board gender diversity influence shareholder value?

Zvinowanda,

Mafini,

Beneke

2024

IJBES

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This study investigates the influence of board gender diversity on the shareholder value of South African-listed non-financial companies on the JSE from 2013 to 2022. The study used a quantitative quasi-experimental method to examine the influence of board gender diversity on shareholder value creation measures from a multi-theoretical perspective. The board gender diversity measures include the proportion of women directors on the board, the Blau index for board gender diversity, and dummy variables indicating the presence of one, two, three, or more women directors on the board, as well as skewed board, tilted board, and balanced board. Shareholder value creation is proxied using standardised market value added, market-to-book ratio, and Tobin’s Q. The study utilises fixed effects models based on linear and curvilinear models to test the hypotheses. According to linear models, all board gender diversity measures demonstrate a significant positive, negative, or no effect on shareholder value creation measures, aligning with the multi-theoretical perspective of corporate governance research. However, curvilinear quadratic models suggest that the Blau index for board gender diversity and the proportion of women directors on board positively and negatively affect shareholder value creation, highlighting an inverted U-shaped effect. The results recognise the "too much- of- a -good- thing” effect and a possible optimal(or worse) level of board gender diversity as crucial. In conclusion, this study demonstrates that the claim of the ‘‘one size fits all’’ board gender diversity mechanism in creating and maximising shareholder value, often implicitly stated by regulators and advisors, may be misleading.

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Micro-Enterprises, Performance Factors, and the Role of Gender

Durante,

Plaisent,

Zuccaro

et al. 2024

A Cross-Cultural Examination of Women in Higher Education and the Workplace

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Life in developing countries often relies on informal economy and micro-enterprises, often created and managed by women. Their performance has been studied in the literature of management and world development and factors of success have been suggested among which the access to micro-financing organizations, being member of network, having an innovative spirit and accepting the related risk and being able to overcome hostile business conditions. The difficulties are reported as being worst for women who suffers from stereotypes about their abilities and negative cultural factors. This chapter reports on a cross-sectional study among 200 entrepreneurs and test those hypothesis.

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Women on corporate boards and firm financial performance: Empirical evidence from a multi‐country in Asia

Cited by 3 publications

References 66 publications

The Impact of Board Gender Diversity Commitment on Firm Performance Moderated by Board Characteristics: Evidence From Sustainable European Firms and Financial Orientation

The Impact of Board Gender Diversity Commitment on Firm Performance Moderated by Board Characteristics: Evidence From Sustainable European Firms and Financial Orientation

Does corporate board gender diversity influence shareholder value?

Micro-Enterprises, Performance Factors, and the Role of Gender

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