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1 – 10 of 32
Article
Publication date: 6 June 2024

Ammad Ahmed and Atia Hussain

This study aims to understand the dynamics of Australian boards by focusing on the influence of board gender diversity on firms' cash holdings, within the distinctive Australian…

Abstract

Purpose

This study aims to understand the dynamics of Australian boards by focusing on the influence of board gender diversity on firms' cash holdings, within the distinctive Australian “if not, why not” regulatory framework.

Design/methodology/approach

The study uses ordinary least squares (OLS), fixed effects, generalized method of moments (GMM) and quasi-experimental methods such as difference-in-differences and propensity score matching to analyze the data.

Findings

There is a significantly negative relationship between board gender diversity and corporate cash holdings. This relationship is more pronounced when two or more female directors are on the board, supporting the critical mass theory. The results also reveal that the observed pattern can be attributed to the heightened monitoring intensity of female independent directors. Our quasi-experimental methods and pre-post analysis reveal that the observed effects are genuinely attributable to the increase in board gender diversity following regulatory reforms in Australia.

Practical implications

The findings provide practical insights for companies and policymakers, emphasizing the tangible effects of gender diversity on a company's financial strategy and corporate cash holdings. This information is crucial for organizations aiming to make informed decisions regarding board compositions and governance structures.

Originality/value

This research offers fresh insights into an important relationship between gender diversity on boards and corporate financial strategies in the Australian context, enriching the global conversation on the significance of gender diversity in corporate leadership.

Details

International Journal of Accounting & Information Management, vol. 32 no. 4
Type: Research Article
ISSN: 1834-7649

Keywords

Open Access
Article
Publication date: 23 February 2024

Emmadonata Carbone, Donata Mussolino and Riccardo Viganò

This study investigates the relationship between board gender diversity (BGD) and the time to Initial Public Offering (IPO), which stands as an entrepreneurially risky choice…

Abstract

Purpose

This study investigates the relationship between board gender diversity (BGD) and the time to Initial Public Offering (IPO), which stands as an entrepreneurially risky choice, particularly challenging in family firms. We also investigate the moderating role of family ownership dispersion (FOD).

Design/methodology/approach

We draw on an integrated theoretical framework bringing together the upper echelons theory and the socio-emotional wealth (SEW) perspective and on hand-collected data on a sample of Italian family IPOs that occurred in the period 2000–2020. We employ ordinary least squares (OLS) regression and alternative model estimations to test our hypotheses.

Findings

BGD positively affects the time to IPO, thus, it increases the time required to go public. FOD negatively moderates this relationship. Our findings remain robust with different measures for BGD, FOD, and family business definition as well as with different econometric models.

Originality/value

The article develops literature on family firms and IPO and it enriches the academic debate about gender and IPOs in family firms. It adds to studies addressing the determinants of the time to IPO by incorporating gender diversity and the FOD into the discussion. Finally, it contributes to research on women and outcomes in family firms.

Details

Management Decision, vol. 62 no. 13
Type: Research Article
ISSN: 0025-1747

Keywords

Open Access
Article
Publication date: 22 November 2023

Maria Cristina Zaccone and Alessia Argiolas

This paper aims to present a comprehensive theoretical framework that seeks to explore the impact of cultural, legal and social factors within the external environment on the…

1354

Abstract

Purpose

This paper aims to present a comprehensive theoretical framework that seeks to explore the impact of cultural, legal and social factors within the external environment on the relationship between women on corporate boards and firm performance. By investigating these boundary conditions, the paper aims to shed light on how these pressures influence the aforementioned relationship.

Design/methodology/approach

To build the sample of companies, the authors selected companies listed on the stock exchanges of countries that represent a diverse range of institutional contexts. These contexts encompass countries with individualistic cultures, collectivist cultures, environments with mandatory gender quotas, environments without gender quotas, contexts with substantial progress toward gender equality and contexts with limited progress in achieving gender equality. To test the hypotheses, the authors used linear regression analysis as a primary analytical approach. Furthermore, they used the propensity score matching technique to address potential issues of reverse causality and unobserved heterogeneity.

Findings

The findings indicate that the positive influence of a critical mass of women on corporate boards on firm performance is contingent upon the institutional context. Specifically, the authors observed that this relationship is strengthened in institutional contexts characterized by an individualistic culture, whereas it is not as pronounced in collectivist cultural contexts. Furthermore, this research provides compelling evidence that the presence of a critical mass of women on boards leads to enhanced firm performance in institutional settings where gender quotas are not binding, as opposed to settings where such quotas are enforced. Lastly, the results demonstrate that the presence of a critical mass of women on boards is associated with improved firm performance in institutional settings characterized by low progress in achieving gender equality. However, the authors did not observe the same effect in institutional contexts that have made significant strides toward gender equality.

Originality/value

This research offers a unique perspective by investigating the relationship between women’s presence on corporate boards and firm performance across different institutional contexts. In this investigation, the authors recognize that gender diversity on corporate boards is not a one-size-fits-all solution and that its effects can be shaped by the unique institutional contexts in which companies operate.

Details

Corporate Governance: The International Journal of Business in Society, vol. 24 no. 8
Type: Research Article
ISSN: 1472-0701

Keywords

Open Access
Article
Publication date: 31 July 2024

Akshita Arora

The effectiveness of independent directors in making autonomous decisions for better corporate governance in organizations has often been questioned. This paper aims to…

Abstract

Purpose

The effectiveness of independent directors in making autonomous decisions for better corporate governance in organizations has often been questioned. This paper aims to investigate their role in company’s decision making in India and the reasons behind their ineffectiveness.

Design/methodology/approach

This paper examines the regulatory environment and ongoing reforms in which independent directors operate. It identifies crucial factors such as ownership patterns, the appointment and selection process that affect their autonomy. The analysis draws from newspaper articles, blogs, India’s regulatory requirements, The Companies Act and relevant related literature.

Findings

The findings reveal that the independence of directors remains largely in form but not in function. This paper recommends a fair and more robust selection through an independent authority, and disclosure of the resignations of independent directors. Independent directors should be given more powers and their risk-reward scheme should be analyzed.

Originality/value

The paper emphasizes the need for independent directors to be truly independent from the senior management, promoters, and other existing directors. It calls for tighter and more transparent appointment procedures to ensure that independent directors are not influenced by senior management and can bring objectivity to the company board.

Details

Public Administration and Policy, vol. 27 no. 2
Type: Research Article
ISSN: 1727-2645

Keywords

Article
Publication date: 12 September 2024

Kuldeep Singh and Akshita Arora

The escalating instances of financial distress (FD) in corporate houses across the globe, call for immediate attention from policymakers, practitioners and academics equally. This…

Abstract

Purpose

The escalating instances of financial distress (FD) in corporate houses across the globe, call for immediate attention from policymakers, practitioners and academics equally. This study aims to examine how board gender diversity (GD) and information disclosures (ID) interact with each other to drive FD.

Design/methodology/approach

The authors apply dynamic panel data analysis on a sample of 255 Indian-listed firms from 2016 to 2023 to arrive at the econometric results.

Findings

The main findings indicate that while ID exacerbates distress, GD reduces it. In addition, GD also interacts with ID to curtail the adverse effects of disclosures on FD. Therefore, GD acts like a stone that kills two birds simultaneously, first by reducing the distress directly and second by limiting the negative effects of disclosures on distress.

Originality/value

This study extends the understanding of the implications of GD and complements existing research by investigating its direct and indirect impact on FD. It builds on the analysis to propose that GD can foster resilience against adverse FD situations. The findings should apply to other emerging nations after careful consideration of country-specific factors.

Details

Social Responsibility Journal, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1747-1117

Keywords

Article
Publication date: 27 August 2024

Leviticus Mensah, Richard Arhinful and Jerry Seth Owusu-Sarfo

The purpose of this study was to leverage agency theory to examine the impact of board attributes on cash flow management in Ghana’s financial institutions.

Abstract

Purpose

The purpose of this study was to leverage agency theory to examine the impact of board attributes on cash flow management in Ghana’s financial institutions.

Design/methodology/approach

Data for the study was collected from the annual published financial statements of selected financial institutions, which were obtained from their respective websites. The sampling technique used was purposive, resulting in the selection of 15 financial institutions in Ghana, of which 10 were listed on the Ghana Stock Exchange and 5 were non-listed. The study covered a period of 10 years, ranging from 2011 to 2020. The two-step generalized method of moments estimation was used to determine the relationship between the board attributes and cash flow management.

Findings

The study found that board size had a positive and significant influence on net cash flow from operating, investing and financing activities. The study also discovered that the proportion of nonexecutive directors had a positive and significant influence on net cash flow from operating, investing and financing activities. In addition, it was revealed that the proportion of female directors on the board exhibited a positive and significant influence on net cash flow from operating activities but a negative and significant influence on net cash flow from investing and financing activities.

Practical implications

The study recommends increasing female representation on corporate boards to 25%, as women bring valuable skills, knowledge and experience that positively impact the financial institutions’ cash flows.

Originality/value

This study focused on the impact of board attributes on cash flow management within Ghana. It explored how corporate governance affects strategic decisions related to cash flow management, contributing original insights to this field of research.

Details

Corporate Governance: The International Journal of Business in Society, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1472-0701

Keywords

Open Access
Book part
Publication date: 23 September 2024

Lucy V. Piggott, Jorid Hovden and Annelies Knoppers

Sport organizations hold substantial ideological power to showcase and reinforce dominant cultural ideas about gender. The organization and portrayal of sporting events and spaces…

Abstract

Sport organizations hold substantial ideological power to showcase and reinforce dominant cultural ideas about gender. The organization and portrayal of sporting events and spaces continue to promote and reinforce a hierarchical gender binary where heroic forms of masculinity are both desired and privileged. Such publicly visible gender hierarchies contribute to the doing of gender beyond sport itself, extending to influence gender power relations within sport and non-sport organizations. Yet, there has been a relative absence of scholarship on sport organizations within the organizational sociology field. In this paper, we review findings of studies that look at how formal and informal organizational dimensions influence the doing and undoing of gender in sport organizations. Subsequently, we call for scholars to pay more attention to sport itself as a source of gendered organizational practices within both sport and non-sport organizations. We end with suggestions for research that empirically explores this linkage by focusing on innovative theoretical perspectives that could provide new insights on gender inclusion in organizations.

Details

Sociological Thinking in Contemporary Organizational Scholarship
Type: Book
ISBN: 978-1-83549-588-9

Keywords

Open Access
Article
Publication date: 5 February 2024

Erica Poma and Barbara Pistoresi

This paper aims to appraise the effectiveness of gender quotas in breaking the glass ceiling for women on boards (WoBs) in companies that are legally obliged to comply with quotas…

1689

Abstract

Purpose

This paper aims to appraise the effectiveness of gender quotas in breaking the glass ceiling for women on boards (WoBs) in companies that are legally obliged to comply with quotas (listed companies and state-owned companies, LP) and in those that are not (unlisted companies and nonstate-owned companies, NLNP). Furthermore, it investigates the glass cliff phenomenon, according to which women are more likely to be appointed to apical positions in underperforming companies.

Design/methodology/approach

A balanced panel data of the top 116 Italian companies by total assets, which are present in both 2010 and 2017, is used for estimating ANOVA tests across sectors and fixed-effects panel regression models.

Findings

WoBs significantly increased in both the LP and the NLNP companies, and this increase was greater in the financial sector. Furthermore, the relationship between the percentage of WoBs and firm performance is not linear but depends on the financial corporate health. Specifically, the situation in which a woman ascends to a leadership position in challenging circumstances where the risk of failure is high (glass cliff phenomenon) is only present in companies with the lowest performance in the sample, in other words, when negative values of Roe and negative or zero values of Roa occur together.

Practical implications

These findings have relevant policy implications that encourage the adoption of gender quotas even in specific top positions, such as CEO or president, as this could lead to a “double spillover effect” both vertically, that is, in other job positions, and horizontally, toward other companies not targeted by quotas. Practical interventions to support women in glass cliff positions, on the other hand, relate to the extent of supervisor mentoring and support to prevent women from leaving director roles and strengthen their chances for career advancement.

Originality/value

The authors explore the ability of gender quotas to break through the glass ceiling in companies that are not legally obliged to do so, and to the best of the authors’ knowledge, for the first time, the glass cliff phenomenon in the Italian context.

Details

Corporate Governance: The International Journal of Business in Society, vol. 24 no. 8
Type: Research Article
ISSN: 1472-0701

Keywords

Article
Publication date: 19 September 2024

Nigar Sultana, Pallab Kumar Biswas, Harjinder Singh and Larelle Chapple

Countries globally have implemented policies or regulations promoting greater gender diversity in boardrooms. We investigate whether gender diversity on corporate boards leads to…

Abstract

Purpose

Countries globally have implemented policies or regulations promoting greater gender diversity in boardrooms. We investigate whether gender diversity on corporate boards leads to higher Sustainable Development Goals (SDG) commitment through these disclosures.

Design/methodology/approach

Using 16,659 firm-year observations across 42 countries for the years 2019 and 2020, we use disclosure data from the Refinitiv database to measure the sample firms’ stated commitment to sustainable development.

Findings

Our data provide useful comparative information on the countries, legal jurisdictions and types of SGDs currently being disclosed. Our analyses reveal that gender diverse boards are associated with greater levels of SDG disclosures, with such commitment being more significant when there is more than one woman on the board. We also find that women board members are associated most with the PEOPLE and PLANET groups within the SDGs, and our results are robust to additional analyses and endogeneity concerns.

Originality/value

Although gender diversity has been examined within a corporate social responsibility and ethical, social and governance lens, this examination needs to be extended to the SDGs, given the latter’s multi-year horizon and involvement from governments, the private sector and a very broad cross-section of the global community. Our results reinforce global calls for increasing gender representation at the highest levels of organisations to meet the expectations of a greater range of stakeholders in terms of SDG commitment.

Details

Journal of Accounting Literature, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0737-4607

Keywords

Article
Publication date: 10 July 2023

Safaa Shaaban and Rehab Rabie

The purpose of this paper is to introduce the concept of socially responsible human resource management (SRHRM) and examine the reflection of SRHRM on sustainable development (SD…

Abstract

Purpose

The purpose of this paper is to introduce the concept of socially responsible human resource management (SRHRM) and examine the reflection of SRHRM on sustainable development (SD) in Egyptian companies.

Design/methodology/approach

The study data was collected using a quantitative method to examine and test the relationship between the two variables. An empirical study was conducted between 2022 and 2023 on 150 samples of male and female employees from 18 companies located in Egypt working in castings and car batteries.

Findings

The study found that, in general, SRHRM has a significant impact on organizational sustainability. This contribution is also beneficial for general HRM and corporate social responsibility (CSR) literature as it stresses the importance of its relations to SD. By critically analyzing contemporary SRHRM literature, this study further demonstrates how studies with utilitarian approaches have dominated earlier research. By recognizing the necessity for process-oriented studies and the significance of critical scholarship within the field of SRHRM and its connections to the SD, the researcher thereby creates a research agenda for future studies.

Research limitations/implications

The findings only apply to the sample that has participated in this study and to the Egyptian companies. A longitudinal quantitative evaluation of the SRHRM approaches and dimensions and their impact on the SD strategies of Egyptian companies would be recommended in terms of further research study, highlighting the role of SRHRM and its impact on achieving companies' CSR strategies.

Practical implications

The study's findings are helpful for firms looking to implement SR-HRM to enhance some employees' performance and promote organisational sustainability. In Egypt, there is a dire need for responsible leadership in the public and private sectors, which is crucial in the market and industry sectors. In addition to updating all policies, urge the younger generation to participate in them. For example, new hires to the company must demonstrate that they have engaged in volunteer work as part of their social obligation to the community, and this is required for recruitment.

Social implications

Furthermore, refreshing all the policy encourage the young generation working or before working to take part in these policy, such as newcomers to the companies have to show that they have conducted some social responsibility towards their community as voluntary work. A study conducted by Cristina del-Castillo et al. (2022) confirmed that regarding the performance of different factors, the results show that the organizations under study are investing too much effort in improving CSR factors that are less relevant to achieving positive legitimacy assessments. On the one hand, resources destined to improve policies related to health, security and social benefits and those regarding the improvement of the relationship paths between managers and employees are excessive considering the relevance that they represent compared to the rest of the CSR policies. According to Hazzi and Maldaon (2023), stakeholders (including the general public and policymakers) might make an informed choice about how much organizations with CSR could safeguard their well-being if they had access to transparent CSR information. Talking about the sustainability behaviour of SRHRM as crucial for embedding sustainability in the business, a study by Abutaleb et al. (2021) evidence that subjective norms and attitudes, followed by perceived behavioural control and personal norms had the greatest influence on intentions towards behavioural HR. Attitudes towards sustainability practices were significantly influenced by economic advantages and sustainability. A good model fit was demonstrated by measurement and structural models (Abutaleb et al., 2021).

Originality/value

This paper is unique in that it participates in presenting the concept of the social responsibility of HRM as an intervention and approach for SD. It also participates in presenting unique findings related to Egyptian companies. There is a scarcity of literature related to research and studies on SRHRM in Egypt.

Details

Management & Sustainability: An Arab Review, vol. 3 no. 3
Type: Research Article
ISSN: 2752-9819

Keywords

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