scholarly journals Gender Diversity and Firm Performance: Evidence from Pakistan

2012 ◽  
Vol 3 (5) ◽  
pp. 161-166 ◽  
Author(s):  
Hammad Hassan Mirza ◽  
Sumaira Andleeb . ◽  
Farzana Ramzan .
Keyword(s):  
Firm Performance ◽  
Emerging Economies ◽  
Corporate Performance ◽  
Stock Exchange ◽  
Gender Diversity ◽  
Developed Economies ◽  
Female Directors ◽  
Relationship Of ◽  
The Impact

Gender diversity and firm performance, is among the new but challenging topics of research in management sciences. Many researchers have studied the role of gender diversity in enhancing firms’ performance in developed economies (see for example, Dwyer et. al, 2003; and Kang et al, 2010). Existing literature on this subject is rare in emerging economies and to the best of author’s knowledge; this is the first study on relationship of gender diversity and firm’s performance in Pakistani context. Present study focuses on the impact of presence of female directors on corporate performance using a sample of 395 listed nonfinancial companies of Karachi Stock Exchange (KSE) Pakistan from 2004 to 2009. Estimated results indicate that ratio of female directors is negatively related with firm performance.

scholarly journals Gender diversity and governance: Analysis of Italian listed companies

2020 ◽  
Vol 17 (4, Special Issue) ◽  
pp. 329-338
Author(s):  
Graziella Sicoli ◽  
Giovanni Bronzetti ◽  
Dominga Ippolito ◽  
Giada Leonetti
Keyword(s):  
Corporate Performance ◽  
Positive Impact ◽  
Stock Exchange ◽  
Gender Diversity ◽  
Corporate Board ◽  
Italian Law ◽  
Governance Analysis ◽  
Female Presence ◽  
Underrepresentation Of Women ◽  
The Impact

In recent years, many countries have adopted different legislative and self-regulatory initiatives to be able to tackle the problem of the underrepresentation of women on boards. Also, Italy with Law No. 120/2011 introduced the gender issue adopting the normative that 1/3 of the elected members would be women. In this job, a primary aim was to study over the period 2016/2018 the impact of female presence on boards of 50 companies listed on the Italian Stock Exchange. In depth, our results confirm that Italian Law has produced significant effects on the composition of the corporate board. The result of our study shows that women positively influence corporate performance, this is perfectly in line with the literature on gender diversity. The contribution of the work is that the empirical study conducted on the 50 companies listed on the Milan Stock Exchange allows confirming what has been claimed in the literature and that is the importance of the female presence on the boards. An immediate reading of the data allows us to confirm that the female presence in corporate governance has a positive impact on corporate performance and productivity.

scholarly journals Corporate governance, institutional investor type and firm performance: Evidence from an emerging market

2021 ◽  
Vol 5 (4) ◽  
pp. 20-27
Author(s):  
Rama Sastry Vinjamury
Keyword(s):  
Firm Performance ◽  
Institutional Investors ◽  
Firm Value ◽  
Fixed Effects ◽  
Stock Exchange ◽  
Emerging Market ◽  
Developed Economies ◽  
Financial Firms ◽  
Pressure Sensitive

The study analyses the role of institutional investors in improving firm performance. Unlike in developed economies where firm ownership is widely dispersed, firms in emerging economies such as India have substantial promoter shareholdings (often in a majority or close to a majority). Given the promoter control of Indian companies, the role of institutional investors as external monitors is analysed. Following Brickley, Lease, and Smith (1988) and Almazan, Hartzell, and Starks (2005), the study categorises institutional investors as pressure-sensitive and pressure-insensitive institutional investors. Panel data for non-financial firms from India included in National Stock Exchange (NSE) 500 over the period 2008–2017 is studied using fixed-effects models. The study finds that the increased ownership of pressure-insensitive institutional investors is positively associated with firm performance. Also, the increased ownership of pressure-sensitive institutional investors is negatively associated with firm performance. These findings are consistent with the view that pressure-insensitive institutional investors are more effective monitors compared to pressure-sensitive institutional investors. The study offers insights into the role of institutional investors in economies where firms have a substantial promoter shareholding. The study documents that even with a substantial promoter shareholding and control, pressure-insensitive institutional investors aid in enhancing firm value

scholarly journals Finance Impact of corporate governance on the valuation of IPOs in Pakistan stock exchange listed Firms. A moderating role of the family Ownership.

2021 ◽  
Vol 2 (1) ◽  
pp. 101-112
Author(s):  
Muhammad Waris ◽  
Dr. Badariah Haji Din
Keyword(s):  
Corporate Governance ◽  
Stock Exchange ◽  
Gender Diversity ◽  
Moderating Effect ◽  
Family Ownership ◽  
Board Independence ◽  
Ipo Performance ◽  
The Family ◽  
The Impact

The objective of our study is to investigate the impact of the corporate governance on the IPO performance with moderating impact of the family ownership. To investigate that relationship, we used the data of IPOs registered from 2008 to 2017 in Pakistan Stock exchange. We used the OLS methods to analysis of the data. Our findings shows that Board independence (BIND) has positive significant relationship with IPO return, it means that independent directors have the more technical knowledge and experience in maintaining the IPO return and making the strong policy for the organizations. CEO duality has the significant negative relationship with IPO return with (P=0.0833), it means that when CEO has the combine rule then decisions are not distributed, and monopoly existed in decisions that leads to the negative impact on the IPO performance. Board diligence, Board size, ownership concentration and gender diversity have no impact are being seen in our analysis. In the moderating effect of the family ownership in reference to board diligence (BD) the results changed to significant positive relationship, it means that with the family-owned firms when board meetings increased then increased in the IPO return due to some factors. With the moderation of the family ownership the results of the Board independence also improved that shows the role of the family-owned firm in between them. Women in the board that means the gender diversity has no impact but with the moderating effect of the family ownership women in the board has significant positive impact. This study is helpful for the financial managers, investors, and the finance students and also for the government, in maintaining the code of the corporate governance.

Understanding the Relationship Between Culture and Sensory Marketing in Developing Strategies and Opportunities in Emerging Economies

2017 ◽  
pp. 236-262
Author(s):  
Abdulelah Althagafi ◽  
Mahmood Ali
Keyword(s):  
Emerging Economies ◽  
Critical Role ◽  
Cultural Analysis ◽  
Global Strategy ◽  
Strategic Development ◽  
Developed Economies ◽  
Sensory Marketing ◽  
The Impact ◽  
The Relationship

Global strategy requires an understanding of various international cultural differences and their impact on organisations success or failure. Organisations adopt different strategies to succeed in a diverse cultural environment. Sensory marketing strategy plays a critical role in understanding the culture and formulating a successful strategy. Sensory marketing is the process that affects customers' senses, perceptions, judgment, and behaviour. It is critical for policymakers to understand the impact of sensory marketing on consumer buying practices across cultures, including emerging economies. This study serves as a backdrop of strategic development in emerging economies with a focus on the visual and tactile factors of the sensory marketing. Adopting Hofstede's (2001) cultural framework, this chapter has three major objectives. Based on literature review, firstly, it presents a cross-cultural analysis of the consumer sensory processing between the developed economies and emerging economy, Saudi Arabia. Secondly, it aims to evaluate the culture impacts on consumer behaviour's purchase intentions in relation to the sensory factor such as touch and vision. Thirdly, it attempts to identify the role of consumer sensory factors in buying decision across the culture. According to the findings, the literature supports the universality of behaviour patterns of multisensory interaction between touch and vision. This universality applies at both theoretical and operational levels.

The Role of Corporate Governance and Environmental Committees on Greenhouse Gas Disclosure

2019 ◽  
Vol 9 (7) ◽  
pp. 1403
Author(s):  
Daniel T. H MANURUNG ◽  
Andhika Ligar HARDIKA ◽  
Dini W. HAPSARI ◽  
Minda Maulina SEBAYANG
Keyword(s):  
Corporate Governance ◽  
Greenhouse Gases ◽  
Greenhouse Gas ◽  
Sampling Method ◽  
Stock Exchange ◽  
Gender Diversity ◽  
Manufacturing Companies ◽  
And Gender ◽  
The Impact

The study aims to determine the impact of corporate governance (board of commissioners, directors and gender diversity) and environmental committees in greenhouse gas disclosure. The sampling method in this study using purposive sampling method with a total of 26 manufacturing companies listed in Indonesia Stock Exchange by using multiple regression analysis. The results show that the role of the board of commissioners has not been able to provide control over the reduction of greenhouse gases on the company, the board of directors has no effect on the disclosure of greenhouse gases refuse to make emission gas reduction due to litigation pressure and expenditure, gender diversity has not been able to control the role of women and men in decision-making and risk and environmental committees have been little able to contribute to the disclosure of greenhouse gases as it is expected that the establishment of an environmental committee on the company.

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 Evaluating the Impact of Corporate Governance on Firm Performance Using Board Index

2016 ◽  
Author(s):  
Basil Okoth ◽  
Metin Coşkun
Keyword(s):  
Corporate Governance ◽  
Firm Performance ◽  
Positive Relationship ◽  
Stock Exchange ◽  
Negative Relationship ◽  
Vital Role ◽  
Outside Directors ◽  
General Business ◽  
The Impact

In 2013, the CMA at the İstanbul Stock Exchange increased the weight assigned to the Board of Directors component of its Corporate Governance Index to 35% from the previous 25%. Interpreting this as a recognition of the increasing vital role of the board, this study seeks to enhance the work of Abdıoğlu and Kılıç (2015) by putting more focus on the role of women in the boards and the effect of the busy chairman as well as the presence of outside directors on the effectivity of the Board. (The general business structure is associated with family owned groups and holdings which results into a network of intertwined board membership and cases of multiple directorship where, one board chairman can hold the same position or any directorship in as many as ten firmshence the busy chairman). I employ a different method of evaluating performance (EVA) together with the accounting measures of ROE and ROA (as opposed to the overused Tobin’s Q), which I regress against the Board Index to be created. The focus is on firms on the BIST 100 index (excluding financial) between 2009 and 2013. The results reveal that the BINDEX has a significant and positive relationship with firm performance as measured by EVA. A second model reveals no relationship between the BINDEX and firm ROA, similar to the results of Kiliç and Abdioğlu (2015). ROA however has a positive relationship with the proportion of female directors in the board, as earlier reported by LückerathRovers (2013). Another model using ROE as the proxy for performance registers a significant negative relationship with the index. The contradiction obtained in the results from these three models underscore the importance choosing the right methods when estimating the performance of a firm.

Women directors and corporate performance: firm size and board monitoring as the least focused factors

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Haseeb Ur Rahman ◽  
Muhammad Zahid
Keyword(s):  
Small Firms ◽  
Corporate Performance ◽  
Stock Exchange ◽  
Ordinary Least Squares ◽  
Women Directors ◽  
Content Type ◽  
Mediating Role ◽  
Board Monitoring ◽  
The Impact

Purpose This paper aims to examine the impact of women directors on corporate performance (CP) and the mediating role of board monitoring in their relationship. Design/methodology/approach The ordinary least squares with panel corrected standard errors are used as a primary estimator along with three other estimators to check the robustness of the estimations and address the potential endogeneity in a stratified random sample of 320 non-financial Malaysian companies listed on Bursa Malaysia (Stock Exchange) between 2010 and 2014. Findings It is found that women directors on the board not only improve firms’ return on assets but also reduce the volatility of their stocks. However, these findings are more applicable in small firms as compared to large firms. Besides, it is also noted the board monitoring significantly mediates the relationship between women directors and CP. Practical implications As the monitoring role of women directors improves CP, substantial efforts may be put in to increase their meritorious representation on the boards. The regulators could pay equal attention to the small firms. Additionally, the number of board meetings may also be increased for strengthening the monitoring abilities of the board to improve CP. Originality/value The study contributes to the existing literature, as little attention has been paid to the mediation of board monitoring in the nexus of women directors and CP in the past.

scholarly journals Five shades of women: evidence from Italian listed firms

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Franco Ernesto Rubino ◽  
Paolo Tenuta ◽  
Domenico Rocco Cambrea
Keyword(s):  
Firm Performance ◽  
Generalized Method Of Moments ◽  
Gender Diversity ◽  
Women Directors ◽  
Content Type ◽  
Executive Women ◽  
Female Directors ◽  
Before And After ◽  
Italian Context ◽  
The Impact

Purpose This paper aims to examine empirically the impact of gender diversity on corporate performance by both comparing different positions occupied by female directors on the boards and their personal-specific characteristics. Design/methodology/approach The paper examines a sample of Italian listed companies during 2006–2015. To deal with endogeneity issues, the authors use a generalized method of moments as an empirical methodology. Findings The empirical findings show that the positive effect of both independent and executive women directors on firm performance is moderated by the specific characteristics of female directors. Specifically, the analyses show that foreign and busy females negatively impact on performance. Conversely, graduate female directors strengthen the positive link between executive women and firm performance. Originality/value The paper sheds light on the consequences of appointing different types of female directors (i.e. independent, executive, graduate, foreign and busy) on firm performance. Our empirical research that investigates the association between gender diversity and performance in the Italian context based on a longitudinal study, which involves a period of ten years, allowing consideration both of the years before and after the introduction of the gender quota law (Golfo–Mosca law).

scholarly journals Are All Independent Directors the Same? Evidence from Italian Listed Companies

2018 ◽  
Vol 13 (9) ◽  
pp. 78
Author(s):  
Paolo Tenuta ◽  
Domenico Rocco Cambrea ◽  
Debora Fazzari
Keyword(s):  
Firm Performance ◽  
Significant Relationship ◽  
Stock Exchange ◽  
Listed Companies ◽  
Fixed Effect Model ◽  
Independent Directors ◽  
Listed Firms ◽  
Female Directors ◽  
Effect Model ◽  
The Impact

The purpose of this study is to investigate the impact of independent directors on the performance of Italian listed firms on the Milan Stock Exchange during the period 2006-2015. After applying a Fixed Effect Model, the empirical findings suggest that the composition of the board may affect corporate performances and, more specifically, a significant relationship emerges between the presence of independent directors within the Board and company results. Specifically, independent directors and independent female directors positively affect firm performance. Diversely, independent busy directors, those with hold more than three directorship in other boards, do not affect performance.

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