Are gender diverse boards more cautious? The impact of board gender diversity on sentiment in earnings press releases

2021 ◽  
pp. 100278
Author(s):  
Paul Mather ◽  
Dinithi Ranasinghe ◽  
Luisa A. Unda
Keyword(s):  
Gender Diversity ◽  
Press Releases ◽  
Gender Diverse ◽  
Board Gender Diversity ◽  
The Impact ◽  
Earnings Press Releases

Board gender diversity and US corporate bonds

2019 ◽  
Vol 15 (5) ◽  
pp. 771-791 ◽  
Author(s):  
Renee M. Oyotode-Adebile ◽  
Zubair Ali Raja
Keyword(s):  
Panel Data ◽  
Propensity Score ◽  
Design Methodology ◽  
Gender Diversity ◽  
Data Set ◽  
Content Type ◽  
Gender Diverse ◽  
Board Gender Diversity ◽  
The Impact ◽  
Women Participation

Purpose The purpose of this paper is to examine the impact of board gender diversity on bond terms and bondholders’ returns. Design/methodology/approach The authors perform pooled OLS regression, simultaneous regressions and propensity score matching to a panel data set of bond data for 319 US firms from 2007 to 2014. Findings The authors find that firms with gender-diverse boards have lower yields, higher ratings, larger issue size and shorter maturity. They also find that bondholders require fewer returns from firms with gender-diverse boards. However, the effect is more pronounced when women, constitutes at least 29.67 percent of the board. Originality/value This analysis supplements the findings that board gender diversity is essential for bondholders. It shows that bondholders should look at board gender diversity as a criterion to invest because bonds issued by firms with gender-diverse board have less risk. For practitioners, this study shows that more women participation on boards leads to a reduction in borrowing costs.

Board gender diversity: performance and risk of Brazilian firms

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Mauro Mastella ◽  
Daniel Vancin ◽  
Marcelo Perlin ◽  
Guilherme Kirch
Keyword(s):  
Firm Performance ◽  
Boards Of Directors ◽  
Gender Diversity ◽  
Ordinary Least Squares ◽  
Firm Risk ◽  
Content Type ◽  
Study Approach ◽  
Female Presence ◽  
Board Gender Diversity ◽  
The Impact

Purpose This study aims to intend to check if female board representation affects performance and risk and to analyse the evolution of the demographic aspects of the presence of women on boards in Brazil. Design/methodology/approach The authors used a sample of 150 Brazilian publicly traded companies from 2010–2018, with different measures of firm performance, firm risk and women’s presence on the board. The study approach is based on a set of ordinary least squares, quantile and panel data regressions. Findings The presence of women on the board has a positive effect on all of our accounting and market performance measures. However, the result of the impact on risk is not conclusive. The study also found that the number of females on the board has a more significant effect at the lower levels of firm performance measured by return on equity, but at the higher levels when measured by Tobin’s Q. Regarding return on assets, the more significant effect happened on the extremes of the performance distribution. The study findings point that market investors place more value in female presence on the board than in director positions. Originality/value By estimating the impact of women’s presence on the boards of directors in firm performance and risk, this study aimed to verify this impact in different aspects of the company. In addition, the authors did so in a sample with many years, making it possible to evaluate the historical evolution of the feminine presence in the boards of administration as well as in the groups of directors, assisting Brazilian legislators with new evidence about the possible impacts of Draft Law 7179/2017.

Board Gender Diversity and Cost of Debt: Do Firm Size and Industry type matter?

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Rabiatu Kamil ◽  
Kingsley Opoku Appiah
Keyword(s):  
Firm Size ◽  
Developing Economies ◽  
Gender Diversity ◽  
Manufacturing Firms ◽  
Least Square ◽  
Cost Of Debt ◽  
Content Type ◽  
Industry Type ◽  
Gender Diverse ◽  
Board Gender Diversity

Purpose This study aims to investigate the nexus between gender-diverse boards and cost of debt in the developing economies context. Specifically, the authors examine whether firm size moderates the relationship between female board representation and cost of debt, regardless of the industry type. Design/methodology/approach The authors use panel data from 17 non-financial listed Ghanaian firms over the period 2007–2017, ordinary least square, two-stage least square and generalised method of moments estimations to test the hypothesis. Findings The authors find that board gender diversity is positively related to cost of debt. Further evidence suggests the interaction of firm size and board gender diversity displays a negative association with cost of debt. Practical implications The study evidence suggests larger non-manufacturing firms with gender-diverse boards attract lower cost of capital in an environment with lax enforcement of rules and regulations in corporate governance. Social implications Lenders consider the size and industry of firms in pricing debt. This has implications on UN Goal 5, highlighting that shareholders of larger non-manufacturing firms benefit immensely from board gender diversity in the context of debt. Originality/value The authors contribute to the board gender diversity and cost of debt literature by demonstrating that firm size and industry type matter in the developing economies context.

scholarly journals Diversity and safety on campus @ Western: Heterosexism and cissexism in higher education

2018 ◽  
Vol 25 (3) ◽  
pp. 320-340 ◽  
Author(s):  
Nicole L. Asquith ◽  
Tania Ferfolia ◽  
Brooke Brady ◽  
Benjamin Hanckel
Keyword(s):  
Higher Education ◽  
Gender Diversity ◽  
Diverse Students ◽  
University Campus ◽  
Gender Diverse ◽  
Sexuality And Gender ◽  
Research Findings ◽  
And Gender ◽  
The University ◽  
The Impact

Discrimination, harassment and violence can vitiate staff and students’ experiences of education and work. Although there is increasing knowledge about these experiences in primary and secondary education, very little is known about them in higher education. This paper draws from landmark research that examines the interpersonal, educational and socio-cultural perspectives that prevail about sexuality and gender diversity on an Australian university campus. In this paper we focus on three aspects of the broader research findings: the heterosexism and cissexism experienced by sexuality and gender diverse students and staff at the university; their actions and responses to these experiences; and the impact of these experiences on victims. The research demonstrates that although the university is generally safe, sexuality and gender diverse students and staff experience heterosexist and cissexist discrimination, which can have negative ramifications on their workplace and learning experiences.

The role of national culture in the impact of board gender diversity on firm performance: evidence from a multi-country study

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Navaz Naghavi ◽  
Saeed Pahlevan Sharif ◽  
Hafezali Bin Iqbal Hussain
Keyword(s):  
Corporate Governance ◽  
Firm Performance ◽  
Generalized Method Of Moments ◽  
Gender Diversity ◽  
Governance Structure ◽  
Corporate Governance Structure ◽  
Data Set ◽  
Content Type ◽  
Board Gender Diversity ◽  
The Impact

PurposeThis study seeks to add more insights to the debate on “whether”, “how”, and “under which condition” women representation on the board contributes to firm performance. More specifically, the current study aims to investigate if the effect of board gender diversity on firm performance is dependent on macro factors of national cultures.Design/methodology/approachThe authors used the generalized method of moments regression and a data set consists of 2,550 company year observations over 10 years.FindingsThe results indicated that cultural variables interact with board diversity to influence firm performance. Having women on the board in countries with high power distance, individualist, masculine and low-uncertainty avoidance culture influences the firm performance negatively.Originality/valueThe findings indicate that the effects of corporate governance structure on firm performance depends on culture-specific factors, providing support for the argument that institutional norms that are governed by cultural norms affect the effectiveness of corporate governance structure.

scholarly journals Corporate Governance and the Earnings Quality of Nigerian Firms

2020 ◽  
Vol 11 (5) ◽  
pp. 161
Author(s):  
Festus Oladipupo Olaoye ◽  
Ademola Adeniran Adewumi
Keyword(s):  
Corporate Governance ◽  
Comprehensive Evaluation ◽  
Earnings Quality ◽  
Gender Diversity ◽  
Annual Reports ◽  
Board Independence ◽  
Manufacturing Companies ◽  
Board Size ◽  
Board Gender Diversity ◽  
The Impact

The focus of the study is to examine the impact of corporate governance on earnings quality in listed firms in Nigeria. The specific objective is to investigate the effect of board size, board independence and board gender diversity on earnings quality. This study was carried out with secondary data retrieved from corporate annual reports of the sampled companies and the data was analysed using panel regression on a sample of 37 quoted manufacturing companies for the period 2011-2017. On the overall, the result reveals that Board size, board independence and board gender diversity used for measuring corporate governance show significant impact on earnings quality. In addition, corporate governance variables appear to be quite sensitive to the measure of earnings quality used. Based on the findings, the study recommends the need for comprehensive evaluation of corporate governance systems of companies. The study recommends the need for more level of board independence. The diversity issue though is gaining momentum in corporate governance literature can still be regarded as not as dominant as compared to others especially as it relates to protecting shareholder rights and framing dividend policy. The significance of the variable nevertheless suggests that companies should thrive to achieve an appropriate diversity mix.

scholarly journals MCCG 2012 versus MCCG 2017: Board Gender Diversity and Women CEO Issues within the Male-dominated Oil and Gas Industry

2019 ◽  
Vol 10 (2) ◽  
pp. 122
Author(s):  
Dayana Mastura Baharudin ◽  
Maran Marimuthu
Keyword(s):  
Oil And Gas ◽  
Top Management Team ◽  
Gender Diversity ◽  
Oil And Gas Industry ◽  
Management Team ◽  
Annual Reports ◽  
Top Management ◽  
Gas Industry ◽  
Board Gender Diversity ◽  
The Impact

Purpose – This study investigates the impact of the two main determinants of strengthening the Board and Top Management Team through gender diversity contrasting between the pre and post MCCG 2017 era.Design/methodology/approach – The study will employ the judgmental sampling method followed by descriptive statistics, regression analysis and quantitative content analysis derived from MCCG 2012 and MCCG 2017 as issued by the Malaysian Securities Commission together with prior research to analyse the annual reports in order to explore the reporting of gender diversity across the Board and Top Management Team.Originality/value – This study is a systematic review of prior recent research developments in the Malaysian Securities Commission’s MCCG 2012 and MCCG 2017. The Board of Directors and Top Management Team scoring index could also be applied to other PLCs within the ASEAN oil and gas industry.

scholarly journals Campaigning on the welfare state: The impact of gender and gender diversity

2017 ◽  
Vol 27 (3) ◽  
pp. 215-228 ◽  
Author(s):  
Laurenz Ennser-Jedenastik
Keyword(s):  
Social Policy ◽  
Welfare State ◽  
Gender Gap ◽  
Gender Diversity ◽  
Election Campaigns ◽  
Female Representation ◽  
Press Releases ◽  
And Gender ◽  
The Impact ◽  
The Welfare State

Social policy matters have long been considered women’s issues. Extant research has documented a strong link between gender and the policies of the welfare state in the legislative, executive and electoral arenas. Yet what determines the strength of this association has largely been left unexplored. Drawing on tokenism theory, this article proposes gender diversity at the group level as a key explanatory factor. It hypothesizes that the gender gap in social policy diminishes as the female representation in a political party increases. To test this argument, it examines almost 8000 press releases issued by over 600 politicians during four election campaigns in Austria between 2002 and 2013. The analysis demonstrates that women talk more about social policy issues during election campaigns than men, but that this emphasis gap disappears for parties with a more equal gender balance. These results have important implications for our understanding of the politics of gender and social policy.

scholarly journals BOARD GENDER DIVERSITY AND ITS IMPACT ON FIRM VALUE AND FINANCIAL RISK

2019 ◽  
Vol 9 (3) ◽  
pp. 407
Author(s):  
Yunia Panjaitan
Keyword(s):  
Board Of Directors ◽  
Firm Value ◽  
Financial Risk ◽  
Positive Impact ◽  
Stock Exchange ◽  
Gender Diversity ◽  
Multiple Linear Regression Model ◽  
Manufacturing Companies ◽  
Board Gender Diversity ◽  
The Impact

One of the things that can be done to maximize firm value is by having a board of directors with diverse characteristics. Gender diversity in the firm’s board of directors can bring a positive impact to the firm. Females are generally more risk-averse than males, and this could lead to a lower risk that must be borne by the firm. This study is conducted to investigate the impact of Board Gender Diversity to firm’s value and financial risk. Using 51 manufacturing companies listed in the Indonesia Stock Exchange from year 2016 to 2017, data was analyzed with the multiple linear regression model for panel data. The findings suggest that the presence of female directors has a positive and significant effect to firm’s value, and a negative but not significant effect to firm’s financial risk

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