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Article
Publication date: 16 September 2021

Waqas Bin Khidmat, Muhammad Danish Habib, Sadia Awan and Kashif Raza

This study aims to examine the determinants of the female representations on Chinese listed firm’s boards. This study also investigates the effect of gender diversity on…

Abstract

Purpose

This study aims to examine the determinants of the female representations on Chinese listed firm’s boards. This study also investigates the effect of gender diversity on corporate social responsibility activities.

Design/methodology/approach

The Tobit regression model is used because the data is censored and using ordinary least square regression can give spurious results. For robust check, the authors also used Heckman’s (1979) two-stage self-selection model to remove the sample self-selection bias.

Findings

The authors find that the female representations on the corporate board are positively associated with firm age, firm performance, corporate governance, family ownership, institutional ownership and managerial ownership while negatively related to firm size and state ownership. This study also incorporates predictors of the critical mass of women on the Chinese listed firm’s board. The study also tests the female-led hypothesis and concludes that the female representation increases in firms with female chief executive officer (CEO) or female chairpersons. The Chinese listed firms with gender-diverse board are socially responsible.

Research limitations/implications

The importance of diversity in corporate boards has been demonstrated in light of the agency theory and the resource dependence framework. The results contribute to the previous literature by documenting the determinants of female representations on board, robust by alternative measures of gender diversity, firm size, corporate governance and estimation techniques.

Practical implications

The economic significance of gender diversity stirred the firms to increase female representation. The policymakers can understand the reasons for female underrepresentation in Chinese boards and can reform the regulation to enhance governance quality, non-state ownership and risk aversion among the listed firms.

Originality/value

This study contributes to the literature by providing empirical evidence on the key predictor of the world’s largest emerging economy, specifically the study focuses on the firm specific determinants, different governance attributes, ownership structure and firm risk measures. This study also seeks to answer if the presence of a female in the Chairperson or CEO position encourages the firms to hire more female directors or not?

Details

Management Research Review, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2040-8269

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Article
Publication date: 27 October 2020

Erin Oldford, Saif Ullah and Ashrafee Tanvir Hossain

The objective of this paper is to leverage a two-sided view of social capital to develop a model of board gender diversity and firm performance using social capital data…

Abstract

Purpose

The objective of this paper is to leverage a two-sided view of social capital to develop a model of board gender diversity and firm performance using social capital data from Northeast Regional Center of Rural Development.

Design/methodology/approach

The authors examine a large sample of 2,322 US publicly listed firms over the period 1996 to 2009. The final sample consists of 14,634 firm-year observations.

Findings

The authors find that when a firm's social network is not supportive of gender diversity, corporate boards have lower levels of female representation. The strength of a social network's social ties exacerbates the relationship between social capital and board gender diversity. The authors also report a negative relationship between female board membership and firm performance in social networks that are not pro-diversity. Robustness tests reveal that the authors’ social capital view of board diversity also applies to board ethnic diversity.

Research limitations/implications

This study focuses primarily on blue chip firms due to data constraints. It will be interesting for future researchers to investigate a broader spectrum of firms from a broader perspective of diversity beyond the study’s gender and ethnicity findings. Furthermore, this study assesses the US context, and future research could investigate firm sociability in other national contexts.

Practical implications

This study contributes new insights to the discourse on gender diversity on corporate boards which stand to inform both policy and practice. The results of the study can inform the position of an industry association on board gender diversity, with guidance on how messaging across networks can be more effective should it account for the hidden bias that the authors uncover in the current study. From a manager's perspective, this study can help those managers and boards trying to enhance board gender diversity by providing a more complete understanding of the factors that can limit progress.

Originality/value

This study contributes a social capital view of board gender diversity to the growing literature of corporate governance, board diversity and local environmental influences on corporate policies.

Details

Managerial Finance, vol. 47 no. 4
Type: Research Article
ISSN: 0307-4358

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Article
Publication date: 30 October 2020

Yonjoo Cho, Sehoon Kim, Jieun You, Hanna Moon and Hyoyong Sung

Global gender diversity and equality indexes have been developed to promote gender diversity and equality at the country level, but it is difficult to see how those…

Abstract

Purpose

Global gender diversity and equality indexes have been developed to promote gender diversity and equality at the country level, but it is difficult to see how those indexes are applied to organizations on a daily basis. The purpose of this study is to examine the application of environmental, social and governance (ESG) measures for gender diversity and equality at the organizational level in a Korean context.

Design/methodology/approach

Based on the institutional theory, the authors reviewed ESG measures for gender diversity and equality of women funds in four countries (USA, Canada, UK and Japan) and examined The Women Fund in Korea through document analysis and interviews.

Findings

ESG measures in four countries’ women funds mainly assessed the percentage of women in the workforce, on boards and in leadership positions. In The Women Fund, gender diversity indicators consider the ratio of female to male employees, while gender equality indicators take into account gaps of male and female salaries and positions. This study’s impact analysis indicates that the companies invested in by The Women Fund had higher return on assets and return on equity than those without the fund.

Research limitations/implications

Although women funds explored in this study exemplify the use of ESG measures to apply global gender diversity and equality indexes at the organizational level, research is needed to examine ESG measures and women funds and their associations. Possible topics include what needs to be measured in ESG, who should be involved, how ESG measures should be applied, what outcomes of using ESG measures would ensue in organizations and how ESG measures relate to regional and global gender diversity.

Practical implications

In promoting ESG measures that apply global gender diversity and equality at the organizational level, human resource development practitioners, as change agents, can help organizations develop socially responsible and ethical behaviors and transform organizational culture, practice and systems, which may influence organizations’ long-term survival and development as well as financial performance.

Social implications

As the government’s support and policies guide and drive firms to develop and implement initiatives and programs, the launch and implementation of gender diversity and equality at the organizational level in the form of women funds require a certain level of collaboration between the government and the private sector.

Originality/value

This study on the application of ESG measures for global gender diversity and equality at the organizational level in the form of women funds is timely to engage organizations in dialogue regarding what needs to be done to promote women’s participation and leadership roles in organizations in Korea and other countries.

Details

European Journal of Training and Development, vol. 45 no. 4/5
Type: Research Article
ISSN: 2046-9012

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Article
Publication date: 4 January 2021

Kofi Mintah Oware and Thathaiah Mallikarjunappa

The purpose of this study is to investigate family management, financial performance and gender diversity of listed firms.

Abstract

Purpose

The purpose of this study is to investigate family management, financial performance and gender diversity of listed firms.

Design/methodology/approach

Using the India stock market as a testing ground, this paper used descriptive statistics and panel regression with random effect assumptions in the analysis of 800 firm-year observations between 2010 and 2019.

Findings

The findings show that an improvement in stock price returns leads to a corresponding increase in women employment. Also, the study shows that an increase in family-managed firms leads to a decrease in the number of women employed in listed firms. This paper speculates using the social role theory that family involvement may see women as the weaker vessel and with a role to concentrate on raising children and handling house affairs. The consequence is a decrease in women employment. The study also shows that the interactive variable of financial performance (return on assets and return on equity) × family-managed firms still causes a decrease in women employment. This paper perceives that managers in family-managed firms see women as weaker vessels and home managers which is consistent with the Indian culture. The results are robust after controlling for endogeneity.

Research limitations/implications

The research study is limited to large firms on the Indian stock market that submit sustainability reports and also used a single country data that can potentially limit the generalisation of the study.

Originality/value

No studies have combined social role theory in examining the effect of family management on gender diversity in the emerging markets.

Details

Society and Business Review, vol. 16 no. 1
Type: Research Article
ISSN: 1746-5680

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Article
Publication date: 15 June 2020

Nikola Stefanovic and Lidija Barjaktarovic

This study aims to explore the factors moderating possibly indirect relationships between gender diversity and its effect on bank performance. The causality of this…

Abstract

Purpose

This study aims to explore the factors moderating possibly indirect relationships between gender diversity and its effect on bank performance. The causality of this relationship remains unclear.

Design/methodology/approach

The sample consists of all banks (n = 27) operating in Serbia.

Findings

The gender diversity-performance relationship is indirect. The gender diversity of executive boards positively impacts bank performance, over a threshold level. This is observed only in banks where gender diversity is extended to more than one level of executive authority.

Research limitations/implications

Gender diversity should be fostered, particularly in small and competitive markets. The gender diversity-performance link is based on gender-related social interactions, which are interdependent and should not be taken into account as isolated factors.

Originality/value

To the knowledge, this is the first study to provide insight into indirect, gender related, moderatory interactions effecting gender diversity – performance link, in banking.

Details

Gender in Management: An International Journal , vol. 36 no. 1
Type: Research Article
ISSN: 1754-2413

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Article
Publication date: 19 June 2017

Alpa Dhanani and Michael John Jones

Editorial boards of academic journals represent a key institutional mechanism in the governance and functioning of the academic community. Board members play an important…

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1130

Abstract

Purpose

Editorial boards of academic journals represent a key institutional mechanism in the governance and functioning of the academic community. Board members play an important role in knowledge production and development of the discipline. The purpose of this paper is to enquire into the diversity characteristics of boards of accounting journals.

Design/methodology/approach

Drawing on a diversity framework that distinguishes between societal diversity and value of diversity, the paper examines two board characteristics: gender diversity and internationalisation. Moreover, it examines the influence of three journal and two editor characteristics on board diversity and analyses trends over time.

Findings

On gender, overall board trends are consistent with societal diversity and value of diversity: boards reflect the gender profile of senior academics. Further, female representation on boards is broadly consistent across the different journal nationalities; has improved over time; has experienced a convergence in “gender sensitive” sub-disciplines; and is influenced by female editorship. However, inequities appear to be present at the highest level: women appear to be less well represented than men as editors and women also have a lower representation on boards of higher ranked journals than on those of lower ranked journals. On internationalisation, once again, overall trends broadly reflect societal diversity and value at diversity. However, international scholars are less well represented on 4* boards than on 2* and 3* boards and on US boards than on Australian and UK boards. Further, there are signs of weakening US dominance in non-US journals.

Originality/value

Drawing on the diversity framework, this is the first study to comprehensively examine gender diversity and internationalisation of accounting boards.

Details

Accounting, Auditing & Accountability Journal, vol. 30 no. 5
Type: Research Article
ISSN: 0951-3574

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Article
Publication date: 9 February 2015

Heather R. Parola, Kimberly M. Ellis and Peggy Golden

The purpose of this paper is to uncover the performance effects of top management team (TMT) gender diversity in the merger and acquisition (M&A) process. To do so, an…

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3989

Abstract

Purpose

The purpose of this paper is to uncover the performance effects of top management team (TMT) gender diversity in the merger and acquisition (M&A) process. To do so, an integration of the upper echelons perspective and the M&A process literature is offered to consider the “double-edge sword” of gender diversity on both pre- and post-integration performance. Additionally, the boundary effects of acquirer experience on the TMT gender diversity-performance relationship is examined.

Design/methodology/approach

The hypotheses are tested in a sample of 310 acquisitions by Fortune 1,000 companies. Multiple regression analysis is utilized to test the effects on the two different performance variables.

Findings

The findings reveal that TMT gender diversity is beneficial to pre-integration performance, but hinders post-integration performance. Additionally, the findings provide evidence that acquirer experience can overcome the negative effects of gender diversity in post-integration performance.

Originality/value

This study contributes to a better understanding of the double-edge sword of TMT gender diversity by providing evidence that performance implications depend on the performance variable of interest. Specifically in the M&A context, gender diversity has differing effects on pre- and post-integration performance.

Details

Management Decision, vol. 53 no. 1
Type: Research Article
ISSN: 0025-1747

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Article
Publication date: 23 May 2019

Nadia Mans-Kemp and Suzette Viviers

Several mechanisms exist to address the low levels of gender and race diversity in boardrooms, including mandatory quotas, voluntary targets and investor activism. Based…

Abstract

Purpose

Several mechanisms exist to address the low levels of gender and race diversity in boardrooms, including mandatory quotas, voluntary targets and investor activism. Based on the similarity-attraction theory, the authors investigated whether nomination committees of companies listed on the Johannesburg Stock Exchange (JSE) could serve as an internal change mechanism to promote board gender and race diversity.

Design/methodology/approach

Panel data on the gender and race diversity of the nomination committees and boards of the 40 largest listed companies (the JSE Top 40) were analysed over the period 2011- 2016. Panel regressions were conducted to investigate four hypothesised associations.

Findings

More diverse boards had significantly more diverse nomination committees in terms of both gender and race. A significant positive association was furthermore reported between the race diversity of nomination committees and the appointment of new directors of colour. The latter finding could partly be attributed to legislation to enhance black representation in all spheres of the South African economy.

Originality/value

South Africa offers a unique socio-political setting in which to conduct board diversity research. In line with the similarity-attraction theory, it is shown that diverse nomination committees have an essential role in setting and achieving board gender and race diversity targets.

Details

Corporate Governance: The International Journal of Business in Society, vol. 19 no. 4
Type: Research Article
ISSN: 1472-0701

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Article
Publication date: 21 September 2018

Monica Garcia-Solarte, Domingo Garcia-Perez de Lema and Antonia Madrid-Guijarro

This study aims to empirically identify the relationship between gender diversity and organizational leadership.

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1194

Abstract

Purpose

This study aims to empirically identify the relationship between gender diversity and organizational leadership.

Design/methodology/approach

A multifactor questionnaire, Form 6-S, developed by Bass and Avolio (1992), is used to measure leadership. The results are derived from univariate and multivariate analyses conducted through ordinary least square linear regression. This study uses a base consisting of 142 small and medium enterprises in Cali (Colombia); men manage 111 of which, whereas women manage 31. The data came from a project performed by the Humanism and Management research group of the Administration Sciences Department of Valley University (Universidad del Valle). Fieldwork was conducted between November 2013 and April 2014.

Findings

The results show that companies with greater gender diversity (mostly women on the board of directors and in management) develop a transformational organizational style orientated towards organizational change through the transformation of followers.

Originality/value

There is no previous study combining these variables in Colombian context.

Details

Gender in Management: An International Journal, vol. 33 no. 6
Type: Research Article
ISSN: 1754-2413

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Article
Publication date: 11 October 2019

Javad Oradi and Javad Izadi

The purpose of this paper is to investigate the association between gender diversity on the audit committees and the incidence of financial restatements.

Abstract

Purpose

The purpose of this paper is to investigate the association between gender diversity on the audit committees and the incidence of financial restatements.

Design/methodology/approach

Using a sample of 683 firm-year observations from Iranian listed companies for the period 2013 to 2017, this paper uses a logistic regression model to examine a research hypothesis related to the association between the presence of female members on the audit committee and the incidence of financial restatements.

Findings

After controlling for other restatement-related factors, the authors find that the presence of at least one female member on audit committees reduces the likelihood of the incidence of financial restatements. Robustness tests also confirmed this result. Moreover, the additional analyses show that independent and financial expert female members on audit committees are more strongly associated with a reduction in financial restatements. Further, the results suggest that the presence of female members on the audit committee can increase the likelihood of hiring higher quality auditors. Generally, the findings are consistent with the literature on gender diversity which suggests that women perform better in a monitoring role, are more conservative and make more ethical decisions.

Practical implications

The findings of this study could help with the understanding of broader participation of female directors on company boards and subgroups such as the audit committee, and of the improvement in corporate governance. Moreover, the findings can be of particular interest to monitoring authorities and policy makers in developing countries and send positive signals to them regarding the recommendation or requirement of gender diversity as a part of corporate governance mechanisms.

Originality/value

The present study contributes to the extant literature by providing empirical evidence on the effect of audit committee gender diversity on financial restatements. Furthermore, this study provides evidence on the more effective oversight and greater ability of independent and financial expert female directors, which has been significantly disregarded in the previous studies.

Details

Managerial Auditing Journal, vol. 35 no. 1
Type: Research Article
ISSN: 0268-6902

Keywords

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