scholarly journals The effect of diversification on firm performance: Evidence from Listed Companies in Vietnam

2021 ◽  
Vol 9 (02) ◽  
pp. 2072-2180
Author(s):  
Dai Long Khuc ◽  
Thi Thu Bui ◽  
Quynh Mai Ha
Keyword(s):  
Firm Performance ◽  
Gender Diversity ◽  
Supervisory Board ◽  
Listed Companies ◽  
Ceo Duality ◽  
Return On Equity ◽  
Independent Variables ◽  
Negative Effect ◽  
And Gender ◽  
The Relationship

The study was conducted to investigate the relationship between diversification on Board and firm performance. The investigation has been performed using panel data procedure for a sample of 204 Vietnamese listed companies in two different groups: Large cap and Mid cap, listed in HOSE and HNX during the period of five years from 2015 to 2019. The study uses three performance measures (including return on equity, return on asset, Tobin’s Q) as dependent variable. The independent variables for measurement of diversification on Board are the number of females and the diversification for Supervisory Board are the number of females only. Other independent variables are average age of Board member, CEO duality and the number of independent directors. The results indicated that firm performance have positive relationship with nationality diversity on Board and gender diversity on Supervisory Board. CEO duality shows a significant result of negative effect on firm performance.

Women directors and performance: evidence from Malaysia

2019 ◽  
Vol 38 (8) ◽  
pp. 841-856 ◽  
Author(s):  
Kwee Pheng Lim ◽  
Chun-Teck Lye ◽  
Yee Yen Yuen ◽  
Wendy Ming Yen Teoh
Keyword(s):  
Firm Performance ◽  
Financial Performance ◽  
Gender Diversity ◽  
Listed Companies ◽  
Women Directors ◽  
Content Type ◽  
Developed Economies ◽  
And Gender ◽  
The Impact ◽  
The Relationship

Purpose The purpose of this paper is to examine the relationship between women on board and the financial performance of Malaysian listed companies. Design/methodology/approach Panel generalised method of moments (GMM) analysis was used over 928 public-listed companies listed on the Malaysian Stock Exchange from 2010 to 2016. GMM overcomes the problem of endogeneity and simultaneity bias. The dependent variable was firm performance, measured by Tobin’s Q. The explanatory variable was gender diversity, proxied by the percentage of women on board, the presence of women and gender heterogeneity indices, Blau and Shannon indices. Findings More gender diversification leads to declining firm performance possibly due to issues of tokenism and gender stereotypes. Research limitations/implications Further studies should look into the impact of various types of ownership structures on firm value and also by sectors. Practical implications As women represent half the population in Malaysia, more positive affirmative policies must be introduced to enhance their contributions to society. Social implications As women progress in society, their contributions towards nation building will be significant. Women not only play a nurturing role, but also can shape the destiny of a country. Originality/value Studies on the relationship between board gender diversity and financial performance have been conducted in the context of a few developed economies. This study contributes to the literature by examining such an issue in a developing economy that has a different environment from that of developed economies.

Impact of Research and Development on Firm Performance

2014 ◽  
Vol 4 (1) ◽  
pp. 357 ◽  
Author(s):  
Aimen Ghaffar ◽  
Waseem Ahmed Khan
Keyword(s):  
Firm Performance ◽  
Research And Development ◽  
Return On Assets ◽  
Return On Equity ◽  
Positive Correlation ◽  
Important Concept ◽  
Independent Variables ◽  
Earnings Per Share ◽  
The Impact ◽  
The Relationship

This study has been conducted to see the impact of research and development budget on the performance of the firms. Research and development is an increasingly important concept in order to have success in this era. The paper finds out the relationship between research and development and firm performance. Firm performance is measured through the ratios of return on assets, return on equity and the earnings per share of the firms. The data analyzed by using SPSS. Results confirmed the positive correlation between the dependent and the independent variables. Limitations of the study were shortage of time and studying of a single sector. In future, different other sectors can be studied to see the impact of research and development on their performance.

Comparative Analysis of Racio-Ethnicity and Gender Impact on Stock Risk

2017 ◽  
pp. 1162-1189
Author(s):  
J. R. Smith ◽  
Andrea Tillman-Hawkins ◽  
Alisa L. Mosley ◽  
Jean-Claude Assad
Keyword(s):  
Firm Performance ◽  
Cultural Diversity ◽  
Gender Diversity ◽  
Future Research ◽  
Significant Relationships ◽  
Study Methodology ◽  
And Gender ◽  
Ethnicity And Gender ◽  
The Relationship ◽  
Stock Values

The study purpose is to examine the relationship between cultural diversity and firm performance from the perspective of the investors. Stock values were used to test the hypothesized relationships between the components of cultural diversity (i.e. racio-ethnicity and gender impact on firm performance) using an event study methodology with regression analysis techniques. The findings indicate that the influences of racio-ethnicity and gender diversity on firm performance were mixed. However, significant relationships were found between the components of cultural diversity and firm performance. New directions for future research are offered.

scholarly journals The Relationship Between Board Characteristics and Environmental Disclosure: Evidence from Turkish Listed Companies

2016 ◽  
Vol 11 (2) ◽  
pp. 7-19 ◽  
Author(s):  
Halil Emre Akbas
Keyword(s):  
Audit Committee ◽  
Gender Diversity ◽  
Annual Reports ◽  
Environmental Disclosure ◽  
Board Size ◽  
Independent Variables ◽  
Board Characteristics ◽  
And Gender ◽  
Board Gender Diversity ◽  
The Relationship

Abstract This study primarily aims to analyze the relationship between selected board characteristics and the extent of environmental disclosure in annual reports of Turkish companies, using a sample of 62 non-financial firms listed on the BIST-100 index at the end of 2011. The content analysis is used to measure the extent of environmental disclosure. Four board characteristics, namely board size, board independence, board gender diversity and audit committee independence, are considered as the independent variables that may have an impact on the extent of the environmental disclosures of Turkish companies. According to the results of the regression analysis, only board size has a statistically significant and positive relationship with the extent of environmental disclosure. This result implies that firms with larger boards disclose more environmental information than firms with smaller boards. On the other hand, the rest of the independent variables are found to be unrelated to the extent of environmental disclosure. The low degree of independence and gender diversity on the boards of the sample companies for the time period analyzed in the study could be one possible explanation for this result.

scholarly journals Responsibilities of board of directors and enterprise efficiency in Vietnam stock market

2014 ◽  
Vol 17 (1) ◽  
pp. 74-87
Author(s):  
Minh Hoang Nguyen ◽  
Hien Thu Nguyen
Keyword(s):  
Firm Performance ◽  
Stock Market ◽  
Board Of Directors ◽  
Supervisory Board ◽  
Listed Companies ◽  
Market Capitalization ◽  
Study Results ◽  
Development Orientation ◽  
The Impact ◽  
The Relationship

Board of Directors and the Supervisory Board play an important role in the activities of the firm, because they influence the operational efficiency as well as the development orientation of the business. The study was conducted to survey the impact of the responsibilities of the board and the supervisory board on the effectiveness of listed companies on the stock market. A set of data consisting of 200 firms with the largest market capitalization on the stock market in 2011 has been obtained. The study results showed the correlation between the responsibilities of the Board and the Supervisory Board and the performance of the firm. The study also looked at the influence of industry factors on the relationship between the responsibilities of the board and the supervisory board and the performance of the business. The results showed that there is evidence to conclude the impact of industry factors on the relationship between the responsibilities of the Board and the Supervisory Board on firm performance.

scholarly journals GENDER DIVERSITY ON BOARD AND ITS RELEVANCE TO FIRM PERFORMANCE: A STUDY ON PHARMACEUTICAL INDUSTRY OF BANGLADESH

2022 ◽  
pp. 1-15
Keyword(s):  
Firm Performance ◽  
Pharmaceutical Industry ◽  
Gender Diversity ◽  
Stock Exchanges ◽  
Board Structure ◽  
Tobin’S Q ◽  
Tobin's Q ◽  
Return On Equity ◽  
Size Firm ◽  
The Relationship

The study tries to examine the relationship between gender diversity on the Board and firms' profitability in Bangladesh's Pharmaceutical industry. The study employs a panel data approach with all the Pharmaceutical companies listed under Dhaka Stock Exchanges. The sample period covers eight years from 2012-2019. To conduct the study, Return on Equity and Tobin's Q was taken as a proxy of accounting measure of profitability and market measure of profitability, respectively. The proportion of women on board structure was taken as a proxy for gender diversity. Some other variables: board size, firm age, leverage, and firm size, were incorporated to control the effect of these variables on profitability. The study reveals that gender diversity shows a positive but insignificant relationship with the firm's performance in terms of ROE. The R square of this model was 11.67%. In terms of Tobin's Q, gender diversity exhibited a significant positive relationship with firm performance. The R square of this model was 17%. This implies that the market ascribes a great value to the inclusion of women in board structure since it increases the board structure's independence and profitability.

The effect of board gender diversity on firm performance: evidence from Turkey

2016 ◽  
Vol 31 (7) ◽  
pp. 434-455 ◽  
Author(s):  
Merve Kılıç ◽  
Cemil Kuzey
Keyword(s):  
Firm Performance ◽  
Financial Performance ◽  
Empirical Studies ◽  
Gender Diversity ◽  
Content Type ◽  
Return On Equity ◽  
Firm Financial Performance ◽  
Board Gender Diversity ◽  
Return On Sales ◽  
The Relationship

Purpose This study aims to include two primary goals. First to determine the board characteristics of listed companies in Turkey and second to investigate the effect of board gender diversity on the performance of these companies. Design/methodology/approach This study uses an instrumental variables regression analysis to investigate the relationship between board gender diversity and firm performance using the data from 2008-2012 of the entities listed on the Borsa Istanbul. Findings The results indicate that the boards of these companies in Turkey are male-dominated. Moreover, this study shows that the inclusion of female directors is positively related to the financial performance of firms, as measured by the return on assets, the return on equity and the return on sales. Originality/value Limited empirical studies have been conducted on the relationship between board gender diversity and firm performance in emerging economies. Therefore, there is still no consensus regarding the link between board gender diversity and firm financial performance based upon the mixed and sometimes contradictory results in prior research. Therefore, this study extends the current literature in the context of Turkey, showing that a female member on the board can enhance the financial performance of a company.

scholarly journals GENDER DIVERSITY IN LEADERSHIP AND FIRM PERFORMANCE: EVIDENCE FROM THE CZECH REPUBLIC

2020 ◽  
Vol 0 (0) ◽  
pp. 1-25
Author(s):  
Veronika Hedija ◽  
Daniel Němec
Keyword(s):  
Czech Republic ◽  
Firm Performance ◽  
Gender Diversity ◽  
Gender Composition ◽  
Financial Health ◽  
The Czech Republic ◽  
Leverage Ratio ◽  
And Gender ◽  
The Relationship ◽  
Executive Body

The paper examines the effect of gender composition of executive body on financial performance and financial health of the firms. The data of more than thousand Czech travel agencies and tour operators for the period 2008–2015 was employed in the paper. To test the relationship between firm performance and gender diversity in leadership, the regression model was applied. After using alternative measurement for gender diversity of executive body and controlling for firm size, firm age, executive body size, leverage ratio and industry, the results have shown that the gender composition of executive body has no statistically significant effect on both firm performance and financial health of firms. The study deepens empirical knowledge about the relationship between gender diversity of executive body and corporate performance and financial health and brings new insights into the link between these phenomena in the Czech Republic.

scholarly journals THE MODERATING EFFECT OF INTELLECTUAL CAPITAL ON THE RELATIONSHIP BETWEEN CORPORATE GOVERNANCE AND COMPANIES PERFORMANCE IN PAKISTAN

2018 ◽  
Vol 2 (1) ◽  
pp. 12-22
Author(s):  
Sajad Nawaz Khan ◽  
Engku Ismail Ali
Keyword(s):  
Corporate Governance ◽  
Firm Performance ◽  
Intellectual Capital ◽  
Gender Diversity ◽  
Moderating Effect ◽  
Board Independence ◽  
Board Size ◽  
Ceo Duality ◽  
Financial Expertise ◽  
The Relationship

During the global financial crises, the prominence of corporate governance was realized after the major loopholes identified in corporate policies and conspicuous corporate scandals all over the world. Developed countries have passed several laws such as the “Say on Pay” or the “Sarbanes-Oxley Act” to protect the shareholder's wealth. On the contrary, developing countries are still thriving to gain effective corporate governance recognition. This study examined the moderating effect of intellectual capital on the relationship between corporate governance and firm performance. The current study uses four-year panel data from 2012 to 2015. Linear regression, correlated panels corrected standard errors (PCSEs) are used in the analysis. The findings of the study indicate that the intellectual capital has a significant effect on the relationship between board size, board financial expertise, CEO duality, gender diversity and firm performance (ROA). On the other hand, it does not seem to moderate the relationship between board independence and firm performance (ROA). Similarly, the findings indicate that intellectual capital has a significant relationship between board size, board independence, CEO duality, gender diversity and firm performance (ROE) has no moderating effect on the relationship between board financial expertise and firm performance (ROE). Moreover, the empirical results highlight the significance of intellectual capital for regulations and policy making.

scholarly journals Executives' pay–performance link in China: evidence from independent and gender-diverse compensation committees

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Muhammad Usman ◽  
Muhammad Abubakkar Siddique ◽  
Muhammad Abdul Majid Makki ◽  
Ammar Ali Gull ◽  
Ali Dardour ◽  
...  
Keyword(s):  
Firm Performance ◽  
Gender Diversity ◽  
Least Square ◽  
Content Type ◽  
Compensation Committee ◽  
Top Managers ◽  
Gender Diverse ◽  
Regulatory Bodies ◽  
And Gender ◽  
The Relationship

PurposeIn this paper, the authors investigate whether an independent and gender-diverse compensation committee strengthens the relationship between top managers' pay and firm performance in Chinese companies. The authors also investigate whether the independent compensation committee composed of all male directors is effective in designing the optimal contract for executives.Design/methodology/approachThe authors use data from A-share listed companies on the Shenzhen and Shanghai stock exchanges from 2005 to 2015. As a baseline methodology, the authors use pooled ordinary least square (OLS) regression to draw inferences. In addition, cluster OLS regression, two-stage least square regression, the two-stage Heckman test and the propensity score matching method are also used to control for endogeneity issues.FindingsThe authors find evidence that an independent or gender-diverse compensation committee strengthens the link between top managers' pay and firm performance; that the presence of a woman on the compensation committee enhances the positive influence of committee independence on this relationship; that a compensation committee's independence or gender diversity is more effective in designing top managers' compensation in legal-person-controlled firms than they are in state-controlled firms; that gender diversity on the compensation committee is negatively associated with top managers' total pay; and that an independent compensation committee pays top managers more.Practical implicationsThe study results highlight the role of an independent compensation committee in designing optimal contracts for top managers. The authors provide empirical evidence that a woman on the compensation committee strengthens its objectivity in determining top managers' compensation. The study finding supports regulatory bodies' recommendations regarding independent and women directors.Social implicationsThe study findings contribute to the recent debate about gender equality around the globe. Given the discrimination against women, many regulatory bodies mandate a quota for women on corporate boards. The study findings support the regulatory bodies' recommendations by highlighting the economic benefit of having women in top management positions.Originality/valueThis study contributes to literature by investigating the largely overlooked questions of whether having a gender-diverse or independent compensation committee strengthens the relationship between top managers' pay and firm performance; whether an independent compensation committee is more efficient in setting executives' pay when it is gender-diverse; and whether the effect of independent directors and female directors on top managers' compensation varies based on the firm's ownership structure. Overall, the main contribution of the study is that the authors provide robust empirical evidence in support of the managerial power axiom.

Sign in / Sign up

Export Citation Format

Share Document