scholarly journals The Presence and Characteristics of Female Directors: How They Influence Firm Performance

2019 ◽  
Author(s):  
Stevanus Pangestu ◽  
Silvia Gunawan ◽  
Jeremy Surya Wijaya
Keyword(s):  
Firm Performance ◽  
Female Directors

Do Female Directors on Corporate Boards Make a Difference in Family Owned Businesses?

2019 ◽  
Vol 19 (1) ◽  
pp. 85-102 ◽  
Author(s):  
Barbara Sveva Magnanelli ◽  
Luigi Nasta ◽  
Elisa Raoli
Keyword(s):  
Firm Performance ◽  
Family Firms ◽  
Negative Impact ◽  
Gender Diversity ◽  
Family Businesses ◽  
Corporate Boards ◽  
Listed Firms ◽  
Female Directors ◽  
And Performance ◽  
Gender Quota

ABSTRACT This paper investigates how the presence of female directors on corporate boards impacts the performance of family firms. This study enriches the literature on gender diversity on corporate boards and its effects on firm performance by focusing on a country in which family businesses are dominant. The empirical analysis is conducted on a sample of 165 Italian-listed firms from 2011 to 2016, representing the period during which the mandatory gender quota law was introduced and implemented in Italy. The results show a positive relationship between the presence of women on corporate boards and firm performance, specifically in family owned businesses. These findings lead to the conclusion that female directors do not have a negative impact on firm performance. And, given the domination of family businesses and a mandatory gender quota law in Italy, this study makes a regulatory and performance assessment not previously examined in the literature. JEL Classifications: M1; M12; M48; M21.

scholarly journals Board gender diversity and firm performance: evidence from the Russian agri-food industry

2020 ◽  
Vol 23 (1) ◽  
pp. 35-53 ◽  
Author(s):  
Alisher Tleubayev ◽  
Ihtiyor Bobojonov ◽  
Taras Gagalyuk ◽  
Thomas Glauben
Keyword(s):  
Firm Performance ◽  
Large Scale ◽  
Positive Impact ◽  
Critical Mass ◽  
Gender Diversity ◽  
Policy Makers ◽  
Global Food Security ◽  
Female Directors ◽  
Corporate Executives ◽  
Board Gender Diversity

This study provides pioneering empirical evidence on board gender diversity and firm performance relationship for the case of large-scale agri-food companies in Russia. While Russia plays an important role in the global food security, its domestic agri-food production is heavily dependent on large scale producers. Our findings suggest a strong positive link between the percentage of female directors in boardrooms and firm performance. Moreover, in line with critical mass theory, boards with three or more female directors have greater impact on firm performance compared to boards with two or less female directors. Further analysis shows that the presence of female directors in the company has a positive impact on firm performance, mainly due to their executive, rather than monitoring effects. The paper shed light on gender diversity of Russian corporate boardrooms and provides empirical recommendations for policy makers as well as corporate executives in Russia.

The Effect of Female Directors on Firm Performance: Evidence From the Great Recession

2019 ◽  
Author(s):  
Suwongrat Papangkorn ◽  
Pattanaporn Chatjuthamard ◽  
Pornsit Jiraporn ◽  
Sirisak Chueykamhang
Keyword(s):  
Firm Performance ◽  
Great Recession ◽  
The Great Recession ◽  
Female Directors

Female directors and firm performance: Evidence from the Great Recession

2019 ◽  
Author(s):  
Suwongrat Papangkorn ◽  
Pattanaporn Chatjuthamard ◽  
Pornsit Jiraporn ◽  
Sirisak Chueykamhang
Keyword(s):  
Firm Performance ◽  
Great Recession ◽  
The Great Recession ◽  
Female Directors

Gender diversity in compensation committees and CEO pay: evidence from China

2018 ◽  
Vol 56 (5) ◽  
pp. 1065-1087 ◽  
Author(s):  
Muhammad Usman ◽  
Junrui Zhang ◽  
Fangjun Wang ◽  
Junqin Sun ◽  
Muhammad Abdul Majid Makki
Keyword(s):  
Firm Performance ◽  
Critical Mass ◽  
Gender Diversity ◽  
Least Square ◽  
Content Type ◽  
Female Directors ◽  
Gender Diverse ◽  
Ceo Pay ◽  
Female Director ◽  
Compensation Committees

Purpose The purpose of this paper is to address whether gender diversity on compensation committees ensures objective determination of CEOs’ compensation. Design/methodology/approach The authors use a sample of companies listed in China from 2006 to 2015. The authors use pooled ordinary least square regression as the baseline methodology, and two-stage least square regression and propensity score matching to control for endogeneity. Findings The authors find evidence that gender-diverse compensation committees limit CEOs’ total cash compensation and strengthen the link between CEO pay and firm performance, but only independent female directors have a significant impact, indicating that the monitoring effect outweighs the executive effect. Moreover, compensation committees with a critical mass of female directors have more impact on CEOs’ total pay and the link between CEO pay and firm performance than do committees with a single female director. Finally, gender-diverse compensation committees are more effective in setting CEOs’ compensation in state-controlled firms, where agency issues are more severe. Practical implications Female directors can improve firm-level governance by monitoring management actions, such as setting CEOs’ compensation. The study contributes to the debate on gender diversity in the boardroom, finding a positive economic effect. The study sheds light on China’s diversity practices at the director level and provides empirical guidance to China’s regulatory bodies. Originality/value The authors extend earlier studies by providing the first empirical evidence that gender-diverse compensation committees strengthen the link between CEO pay and firm performance; that independent female directors are more effective in the monitoring role than executive female directors; that compensation committees with a critical mass of female directors are more effective in setting CEOs’ pay than are committees with a single female director; and that the influence of gender-diverse compensation committees on CEOs’ pay varies by type of ownership.

scholarly journals Female Directors, Family Ownership and Firm Performance in Jordan

2019 ◽  
Vol 11 (1) ◽  
pp. 206 ◽  
Author(s):  
Zaid Saidat ◽  
Claire Seaman ◽  
Mauricio Silva ◽  
Lara Al-Haddad ◽  
Zyad Marashdeh
Keyword(s):  
Firm Performance ◽  
Financial Performance ◽  
Family Firms ◽  
Negative Impact ◽  
Positive Impact ◽  
Stock Exchange ◽  
Least Square ◽  
Public Firms ◽  
Female Directors ◽  
The Impact

This study examines the impact of female directors on the financial performance of family and non-family Jordanian firms. A sample of 103 Jordanian public firms listed on Amman Stock Exchange for the time period 2009-2015 was selected. The study had a quantitative approach and used a panel data methodology. The data analysis was conducted using Ordinary Least Square Regression. ROA and Tobin’s Q were deployed as measurement of financial performance. The appointment of female directors does not have any significant impact on the financial performance of family firms. However, with regard to non-family firms, female directors appeared to have a negative impact on the performance of these firms. The impact of female directors on family firm performance merits further research in the context of different countries and cultures. Appointments based on qualifications and expertise is more likely to have a positive impact. Jordan is an under-researched area where the impact of female directors on the firm performance would merit further research. Differentiating between the impact of female directors on family and non-family firms would also merit further research, especially in the context of the conditions under which they are appointed.

scholarly journals Firm Performance, Corporate Governance Mechanisms and CEO Turnover: Evidence from Nigeria

2020 ◽  
Vol 6 (1) ◽  
pp. 66
Author(s):  
Yahya Uthman Abdullahi ◽  
Magajiya Tanko
Keyword(s):  
Corporate Governance ◽  
Firm Performance ◽  
Stock Exchange ◽  
Governance Structure ◽  
Foreign Ownership ◽  
Ceo Turnover ◽  
Corporate Boards ◽  
Governance Mechanisms ◽  
Female Directors ◽  
Internal Governance Mechanisms

This paper examines the influence of firm performance and internal governance mechanisms on CEO turnover decision. The sample of the study is all Nigerian non-financial firms listed on the Nigerian Stock Exchange (NSE) from year 2011 to 2015 consisting of 72 cases of CEO turnover. Using logistic regression analysis, this study provides evidences that poor accounting-based performance (ROA) and low engagement of female directors in corporate boards do increase the probability of CEO turnover. Furthermore, firms dominated with foreign ownership and those with independent board nominating committee are swifter in removing their CEOs. However, this study fails to support the argument that firms with large board size and those that are dominated by managerial ownership, help to enhance the monitoring practices, which ought to sanction underperformed CEOs with dismissal. Consequently, this study recommends that the Nigerian government should enact a legislation on gender quota to ensure that more female directors are appointed to the boards and as well encourage more foreign ownership in the Nigerian corporate landscape by attracting foreign investment into the economy via favourable policies. This paper contributes to the literature concerning CEO succession in developing markets with poor corporate governance structure such as Nigeria.

scholarly journals The association between board gender diversity and financial reporting quality, corporate performance and corporate social responsibility disclosure

2018 ◽  
Vol 31 (1) ◽  
pp. 177-194 ◽  
Author(s):  
María Consuelo Pucheta-Martínez ◽  
Inmaculada Bel-Oms ◽  
Gustau Olcina-Sempere
Keyword(s):  
Firm Performance ◽  
Financial Reporting ◽  
Gender Diversity ◽  
Reporting Quality ◽  
Content Type ◽  
Csr Reporting ◽  
Female Directors ◽  
Csr Disclosure ◽  
Board Gender Diversity ◽  
Corporate Social

Purpose Companies, politicians, the mass media, legislators, scholars and society in general have shown a growing interest in how board gender diversity affects a firm’s decisions. This concept has been developed because some nations have introduced voluntary policies to regulate and increase the proportion of female directors on corporate boards. Thus, the purpose of this paper is to review previous research based on board gender diversity as a corporate governance mechanism and its effect on some firms’ business decisions: financial reporting quality (FRQ), firm performance and corporate social responsibility (CSR) reporting. Design/methodology/approach The authors focus on the agency and stakeholder theory to examine the link between female directors on boards and FRQ, CSR disclosure and firm performance. Findings This review provides researchers a structure that can identify the benefits and disadvantages of including female directors on boards regarding three particular corporate outcomes (FRQ, firm performance and CSR reporting). Originality/value This study provides a review of past literature on firm performance, CSR disclosure and FRQ from 1975 to 2017, and it contributes to past research by giving a broad overview of the main results of the association between female board directors and corporate decisions. The findings have implications for governments, academics and company managers.

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