scholarly journals Women on board, firm size and cash holding: Empirical evidence from the developing country

2021 ◽  
Vol 10 (3) ◽  
pp. 177-185
Author(s):  
Musviyanti Musviyanti ◽  
Yana Ulfah ◽  
Yanzil Azizil Yudaruddin
Keyword(s):  
Firm Size ◽  
Role Theory ◽  
Cash Holdings ◽  
Cash Holding ◽  
Corporate Boards ◽  
Corporate Board ◽  
Women On Boards ◽  
Negative Effect ◽  
And Gender ◽  
The Relationship

Effective corporate board supervision might be a viable solution to the agency problem of excessive cash holdings (Fama & Jensen, 1983). Thus, this study aims to examine how the participation of women on corporate boards affects cash management. The study looks at how the size of a company affects the relationship between female board members and cash holdings, especially at high and low cash holding levels. A total of 373 publicly-listed companies in seven industries from 2008 to 2017 were chosen as research samples using purposeful sampling. Furthermore, static panel data processing was also used. The results showed that women on boards had a favorable and important impact. This study discovered a positive and significant WOB (women on board) coefficient, implying that companies with women on board had relatively more cash on hand. This result supports the trade-off and gender role theory predictions. However, the relationship between firm size and cash keeping is negative, but insignificant for all models. Different impacts were discovered by separating a sub-sample of companies with high and low cash holding rates. Women on the board of companies with large cash holding have a significant negative effect on cash holding. The partnership between women on boards and cash holding yielded negligible results. These findings have implications for regulators and corporate decision-makers in terms of board gender equality.

scholarly journals The effect of financial performance, IOS, and firm size on cash holdings: the role of dividend policy as moderating variable

2019 ◽  
Vol 2 (2) ◽  
pp. 96
Author(s):  
Woen Cliff Wibowo ◽  
Sugeng Wahyudi
Keyword(s):  
Financial Performance ◽  
Firm Size ◽  
Dividend Policy ◽  
Capital Expenditure ◽  
Cash Holdings ◽  
Cash Holding ◽  
Liquid Asset ◽  
Negative Effect ◽  
Positive Effect

This study aims to determine and analyze the effect of financial performance (profitability, leverage, capital expenditure, liquid asset substitute), IOS, and company size on cash holding by using dividend policy as a moderating variable. The number of samples of this study was 108 observations of non-financial companies in the LQ 45 Index for the period  of 2011-2016. The results of moderated regression analysis (MRA) shows that profitability has a positive effect on cash holding, while leverage, liquid asset substitute, IOS, and firm size have negative effect on cash holdings. The results of this study also show that dividend policy can be a moderating variable which weakens the positive effect of profitability on cash holding and strengthens the negative effect of capital expenditure, but the dividend policy is not able to moderate the influence of leverage on cash holding. As a result, the companies were able to make large dividend payouts to reduce the excessive amount of cash holding that managers often abused for their own benefits and increasingly prospering investors with a given dividend.

Adolescent smoking behavior and communication with parents: Depression as a mediator and gender as a moderator

2019 ◽  
Vol 47 (10) ◽  
pp. 1-9 ◽  
Author(s):  
Xieping Chen ◽  
Qian Xie ◽  
Yuting Yang
Keyword(s):  
Smoking Behavior ◽  
Depression Scale ◽  
Epidemiological Studies ◽  
Adolescent Smoking ◽  
Junior High Schools ◽  
Test Results ◽  
Negative Effect ◽  
And Gender ◽  
The Relationship ◽  
Communication Scale

Parent–adolescent communication is assumed to be an important factor affecting adolescent smoking behavior. However, the inner mechanism accounting for this association has still not been clarified in research. Our purpose in this study was to examine the relationships between parent–adolescent communication, adolescent smoking behavior, and depression, as well as gender differences in the relationship between depression and adolescent smoking behavior. Participants were 1,134 students at 6 junior high schools in China who completed the Parent-Adolescent Communication Scale, the Epidemiological Studies Depression Scale, and the Smoking Behavior Test. Results showed that parent-adolescent communication had a significant negative effect on adolescent smoking behavior and depression partially mediated the relationship between parent–adolescent communication and adolescent smoking behavior. In addition, gender moderated the relationship between depression and adolescent smoking behavior. Overall, these findings may help to promote better understanding of the relationship between parent–adolescent communication and adolescent smoking behavior.

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.

scholarly journals Women on boards and monitoring tasks: an empirical application of Kanter's theory

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Sara De Masi ◽  
Agnieszka Słomka-Gołębiowska ◽  
Andrea Paci
Keyword(s):  
Design Methodology ◽  
Corporate Boards ◽  
Ongoing Debate ◽  
Content Type ◽  
Female Directors ◽  
Women On Boards ◽  
Board Monitoring ◽  
Women On Corporate Boards ◽  
The Relationship ◽  
Practical Implications

PurposeThis paper examines the relationship between women on boards and board monitoring tasks depending on group categories identified in the Kanter's theory.Design/methodology/approachUsing a sample of the largest listed companies in Spain, Italy and France during the period 2007–2017, this study tests the effect of women's presence based on the following board categories: (1) skewed boards with a percentage of women that is less than 20%; (2) tilted boards with a percentage of women that ranges from 20% to 33%; (3) tilted boards with a percentage of women that is more than 33%; and (4) balanced boards with an equal or quasi-equal gender distribution. The authors use the case of the gender board quota regulation in different European Union countries.FindingsThe results suggest that tilted boards engage in stronger firm monitoring and that the effect of women on board monitoring tasks is positive and statistically significant when the percentage of female directors reaches the threshold of 33%.Practical implicationsThe outcomes of this study help policymakers identify the minimum threshold that quota regulations should mandate in order for boards to be effective.Originality/valueThis paper moves forward the ongoing debate about the effect of women on corporate boards, shifting the focus from the ratio or presence of female directors to the size of the group they form within the board. To the best of authors’ knowledge, this is the first study to test Kanter's theory by investigating the relationship between women on boards and board monitoring.

Does Firm Size Matter? The Impact of Homeownership on Business Start-up in Italy

2019 ◽  
Vol 65 (3) ◽  
pp. 237-246
Author(s):  
Gaetano Lisi
Keyword(s):  
Small Business ◽  
Firm Size ◽  
Start Up ◽  
Negative Effect ◽  
Size Matter ◽  
The Impact ◽  
The Relationship ◽  
Positive Effect ◽  
Jel Classifications ◽  
Section Analysis

Abstract This paper is the first attempt to empirically test the relationship between homeownership and business start-up by putting emphasis on the characteristics of both homeowners and firms. It relies on the fact that the firm size is relevant when considering the relationship between homeownership (outright or with mortgage) and new enterprises (small-sized or medium- and large-sized). A cross-section analysis of Italy supports our hypothesis that firm size matters in estimating the actual effect of homeownership on business start-up: Homeownership has a negative effect on large-sized business start-up; in contrast, outright homeownership has a positive effect on small business start-up, whereas homeownership with mortgage payments has a negative effect only on small business start-up. Theoretical explanations are also provided. JEL Classifications: C31, L25, L26, M13, R21, R31 firm size, business start-up, homeownership

scholarly journals Internationalization and Corporate Cash Holdings: Evidence from Brazil and Mexico

2015 ◽  
Vol 19 (spe) ◽  
pp. 1-19
Author(s):  
Newton Arata ◽  
Hsia Hua Sheng ◽  
Mayra Ivanoff Lora
Keyword(s):  
Cash Holdings ◽  
Cash Holding ◽  
Publicly Traded ◽  
Pecking Order ◽  
Balance Sheets ◽  
Publicly Traded Companies ◽  
The North ◽  
The Relationship ◽  
Corporate Cash Holdings ◽  
Degree Of Internationalization

This research expands on previous studies of cash holdings and their determinants by studying the relationship between the degree of internationalization and the level of corporate cash holdings. We used a sample of non-financial, publicly traded companies from Brazil and Mexico for the period from 2006 to 2010. Our results suggest that the degree of internationalization is a determinant of cash, and that cash holding increases quadratically as the degree of company internationalization grows. Such behavior was different from the North American company studies in Chiang and Wang (2011). Similar to previous studies, both Trade-off and Pecking Order predictions are relevant control variables in our model. Finally, companies held less cash on their balance sheets during the pre-crisis period.

Women on boards of directors: the moderation role of female labour force participation

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Reem Hamdan ◽  
Allam Hamdan ◽  
Bahaaeddin Alareeni ◽  
Osama F. Atayah ◽  
Layla Faisal Alhalwachi
Keyword(s):  
Firm Size ◽  
Labour Force ◽  
Ownership Concentration ◽  
Firm Level ◽  
Content Type ◽  
Listed Firms ◽  
Gcc Countries ◽  
Women On Boards ◽  
The Relationship

Purpose This study aims to investigate the moderation role of the percentage of women in the country labour force in the relationship between firm-level governance factors (board size, institutional ownership, ownership concentration, board independence, performance, firm size, firm’s risk and sector) and women on boards (WOBs) in publicly listed firms in Gulf Cooperation Council (GCC) countries. Design/methodology/approach The study relied on a sample of 436 publicly listed firms in 2018 in six GCC countries (Bahrain, Kuwait, Saudi Arabia, Oman, Qatar and the United Arab Emirates). Findings The study concluded that the percentage of women in the country’s labour force has a moderation role in the relationship between board size and WOB, as well as firm market performance and WOBs. However, ownership concentration, firm size, firm risk and firm sector do not affect the percentage of WOB; consequently, the percentage of women in the country’s labour force did not have a moderation role in the relationship between these variables and the percentage of WOBs. Originality/value The study incorporates an institutional level variable which is the percentage of women in the country’s labour force in a firm-level relationship mostly understood by agency theory.

What Makes Nonfamily Employees Act as Good Stewards? Emotions and the Moderating Roles of Stewardship Culture and Gender Roles in Family Firms

2020 ◽  
pp. 089448652096882
Author(s):  
Kai C. Bormann ◽  
Sabrina Backs ◽  
Christina Hoon
Keyword(s):  
Organizational Citizenship ◽  
Organizational Citizenship Behavior ◽  
Family Firms ◽  
Role Theory ◽  
Social Role ◽  
Citizenship Behavior ◽  
Stewardship Theory ◽  
Female Employees ◽  
And Gender ◽  
The Relationship

Based on stewardship theory and social role theory, we examine the bounded nature of nonfamily employees’ individual stewardship behaviors (i.e., organizational citizenship behavior, OCB) in family firms. We expect stewardship culture to make male (female) employees’ OCB more (less) affect-driven. In Study 1, we used data from family and nonfamily firms’ employees to establish the unique manifestation of stewardship in family firms. Study 2 was a diary study of nonfamily employees. As expected, for women, we found stewardship culture to attenuate the relationships between affect and OCB. For men, stewardship culture strengthened the relationship between affect and OCB.

scholarly journals Bringing Women on Board? Family Policies, Quotas and Gender Diversity in Top Jobs

2020 ◽  
pp. 095001702097122
Author(s):  
Helen Kowalewska
Keyword(s):  
Welfare State ◽  
Family Policy ◽  
Critical Mass ◽  
Gender Diversity ◽  
Qualitative Comparative Analysis ◽  
Corporate Boards ◽  
Family Policies ◽  
Women On Boards ◽  
And Gender ◽  
State Interventions

An influential body of work has identified a ‘welfare-state paradox’: work–family policies that bring women into the workforce also undermine women’s access to the top jobs. Missing from this literature is a consideration of how welfare-state interventions impact on women’s representation at the board-level specifically, rather than managerial and lucrative positions more generally. This article contributes to addressing this ‘gap’. A fuzzy-set Qualitative Comparative Analysis of 22 industrialised countries reveals how welfare-state interventions combine with gender boardroom quotas and targets in (not) bringing a ‘critical mass’ of women onto private-sector corporate boards. Overall, the analysis finds limited evidence in support of a welfare-state paradox; in fact, countries are unlikely to achieve a critical mass of women on boards in the absence of adequate childcare services. The results further suggest that ‘hard’, mandatory gender boardroom quotas are not necessary for achieving more women on boards; ‘soft’, voluntary recommendations can also work under certain family policy constellations.

Does a high women quota in supervisory boards influence firm success?

2018 ◽  
Vol 13 (3) ◽  
pp. 291-314 ◽  
Author(s):  
Bettina C.K. Binder
Keyword(s):  
Performance Indicator ◽  
Holistic Approach ◽  
Business Environment ◽  
Annual Reports ◽  
Corporate Boards ◽  
Content Type ◽  
Women On Boards ◽  
Supervisory Boards ◽  
European Business ◽  
The Relationship

Purpose The purpose of this paper is to investigate the relationship between the success of the 50 EURO STOXX companies as measured by the earnings before taxes (EBT) and the percentage of female members on their supervisory boards. Design/methodology/approach The paper relies on data extracted from the annual reports of the 50 EURO STOXX companies in 2015 and from financial websites. Findings The paper provides the existence of a weak correlation between companies’ performance as measured by EBT and the percentage of women on supervisory boards. Research limitations/implications This study has two main limitations: first, a single key performance indicator was used to measure firms’ success; and second, the study offers insights related only to the year 2015. The analysis could be extended over a larger time span while some other variables could be considered in a more holistic approach. Practical implications The paper raises awareness that there is much to be done with regard to the presence of women on boards, and readers, investors and business owners gain an insight on the business environment and women active on European corporate boards. Originality/value By concentrating on the companies of the EURO STOXX 50 Index, the study offers a good image of the European business environment.

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