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Article
Publication date: 7 December 2021

Anissa Dakhli

The purpose of this paper is to investigate the direct and indirect relationship between board gender diversity and corporate tax avoidance using corporate social…

Abstract

Purpose

The purpose of this paper is to investigate the direct and indirect relationship between board gender diversity and corporate tax avoidance using corporate social responsibility (CSR) as a mediating variable.

Design/methodology/approach

This study uses a panel dataset of 200 French firms listed during 2007–2018 period. The direct and indirect effects between board gender diversity (BGD) and tax avoidance were tested by using structural equation model analysis.

Findings

The results indicate that the presence of women on corporate boardrooms negatively affects tax avoidance. The greater the proportion of women in boards, the lower the likelihood of tax avoidance practice. In the mediation test, CSR appears to partially mediate the link between women on boards and corporate tax avoidance. Additional analysis shows that the social dimension of CSR produces this mediating effect.

Practical implications

The results have practical implications for companies in regulating the composition of their boards. To benefit from diversity, firms have to increase women‘s percentage in their boards of directors. Also, investors are encouraged to pay attention to the percentage of female directors when investing and purchasing shares.

Social implications

This study proved empirically that the higher proportion of female directors significantly reduces the possibility of tax avoidance either directly or indirectly through enhancing CSR performance. The findings show that firms with gender diversified boards are more likely to get involved in CSR for hedging against the potential consequences of aggressive tax avoidance practices. In light of the above results, firms are well-advised to strongly apply the policy encouraging or mandating women as board members to take advantage of their expected benefits.

Originality/value

The originality of this paper consists in proposing the establishment of both direct and indirect relationships between BGD and corporate tax avoidance through CSR. Unlike prior studies that have been examining the direct relationship between corporate governance mechanisms and corporate tax avoidance, this study went further to investigate the indirect relationship between these two constructs. This study also differs from prior studies as it examines the effect of BGD on each of constituting pillars of CSR, namely, environmental, social and governance. To date, an extensive part of CSR research has used the combined score of CSR, but the effects on different CSR pillars remain little investigated.

Details

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

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Article
Publication date: 19 November 2021

Qichun Wu, Fumitaka Furuoka and Shu Chui Lau

The importance of board composition, especially female directors’ presence on boards, is thought to influence corporate responsibility performance, has attracted…

Abstract

Purpose

The importance of board composition, especially female directors’ presence on boards, is thought to influence corporate responsibility performance, has attracted significant scholarly interest. This study aims to examine how board gender diversity (BGD) affects corporate social responsibility (CSR) performance and the moderating factors that influence the relationship. There is a lack of research on the moderating indicators (variable measurement, geographic location, data sets and gender parity score) that impact the BGD and CSR relationship.

Design/methodology/approach

This study uses content analysis and meta-analysis to combine the findings of 44 selected papers published from 2010 to 2019, comprehensively reviewing the academic literature on gender diversity in the board composition. Independent and dependent variables are classified based on the variable measurement; this study examines the moderator indicators, such as geographical location, research data sets and gender parity score to investigate the BGD and CSR relationship.

Findings

The findings indicated a significant positive relationship between BGD and CSR performance. The meta-method results showed that the measurements of BGD and CSR limited to impact on the relationship. But a significant moderating effect of the geographical location on the BGD-CSR relationship, the BGD-CSR relationship would be stronger in the firms located in North America than firms located in Asia and other areas. Empirical results also showed a significant moderating effect of gender parity score. There would be stronger BGD-CSR relations in the firms located in the countries with higher gender parity score than the firms located in the countries with low gender parity score. This means the female status is an essential indicator of moderating the BGD-CSR relationship.

Research limitations/implications

The main shortcoming is a lack of sufficient articles on the BGD-CSR relationship. In a future study, researchers may use other databases, such as Google scholar or Ebscohost, to increase the number of relevant articles. These studies would offer new insight into the meta-analysis of the relationship between the BGD and CSR. Finally, the authors identify the potential trend in future research, future research on BGD will need for standardized metrics. The Geographic location is an important indicator that will influence the female director role in CSR. A systematic measure and data of gender research are more important for study in this field.

Practical implications

Meta-analysis is conducted on the independent and dependent variables to examine the causality between BGD and CSR performance, which could better explore diversity among different countries’ boards and, more generally, to investigate the degree to which diversity may influence CSR. Firms may try to balance the BGD to improve future development prospects. Specifically, the results of this study have important implications for corporate governance and policymakers.

Social implications

First, this systematic study uses meta-analysis to combine the findings of previous research on the BGD-CSR. The current research attempts to incorporate mixed empirical results based on the different variable measurements. Second, this study develop and test a contingency model of female on boards and CSR that considers uses the geographic location factors that may enhance or diminish the influence of female on boards on CSR. Specifically, the authors examine whether and under what conditions, boards with more female directors differ for inter-country heterogeneity to which they engage in monitoring roles and are involved with strategy management.

Originality/value

First, this study could be the first systematic study that uses the meta-analysis to combine previous research findings on the BGD-CSR. Second, the current research attempts to incorporate mixed empirical results based on the different variable measurements. Third, this study uses the “gender parity score” to account for inter-country heterogeneity in the BGD-CSR relationship. This study also identifies the potential trend in future research.

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: 29 November 2021

Amal Hamrouni, Mondher Bouattour, Nadia Ben Farhat Toumi and Rim Boussaada

The current study aims to investigate the relation between corporate social responsibility (CSR) and information asymmetry, as well as the moderating effect of board

Abstract

Purpose

The current study aims to investigate the relation between corporate social responsibility (CSR) and information asymmetry, as well as the moderating effect of board characteristics (gender diversity, size and independence) on this relationship.

Design/methodology/approach

This paper uses a panel data regression analysis with the system generalized method of moments (SGMM) estimator of nonfinancial French firms included in the SBF 120 index. The environmental and social disclosure scores are collected from the Bloomberg database, while financial data are collected from the FactSet database.

Findings

The empirical results demonstrate that environmental disclosure has a positive impact on the level of information asymmetry, while social disclosure has no effect on the information environment. Gender diversity and board independence negatively impact the opacity index, while board size has a positive effect. The presence of women in board composition has a substitution effect on the relationship between environmental disclosure and information asymmetry. There is no moderating effect of board size on the association between CSR disclosure and information asymmetry. However, the proportion of independent female directors and board independence operates as substitutes to social disclosure on reducing information asymmetry.

Research limitations/implications

Although the models include the most common control variables used in the literature, they omit some variables. Second, the results should be interpreted with caution and should not be generalized to the entire stock market since the sample is based on large French companies.

Practical implications

The results of this study may be of interest to managers, investors and French market authorities since France is characterized by highly developed laws and reforms in the area of CSR. In addition, the paper leads to a better understanding of how women on the board, in particular, independent female directors, affect the relationship between CSR disclosure and information asymmetry. This could be of interest to French authorities, which has encouraged the appointment of women through the adoption of the Copé–Zimmermann law.

Originality/value

First, to the best of the authors' knowledge, this is the first study to explore the moderating effect of board characteristics on the relationship between CSR and information asymmetry. Second, unlike previous studies using individual proxies to measure information asymmetry, the authors favor the opacity index of Anderson et al. (2009). They calculate this index by including a fifth individual measure, namely, share price volatility. The opacity index better describes the information environment of companies than individual measures since it reflects the perceptions of investors and analysts together.

Details

Journal of Applied Accounting Research, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0967-5426

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Article
Publication date: 7 December 2021

Virasty Fitri and Dodik Siswantoro

This study aims to provide empirical evidence on the role of corporate governance mechanisms in reducing earnings-management practices in Islamic banks in Asia.

Abstract

Purpose

This study aims to provide empirical evidence on the role of corporate governance mechanisms in reducing earnings-management practices in Islamic banks in Asia.

Design/methodology/approach

This study used 28 Islamic banks in Asia, which were listed on the stock exchange from 2013–2017. The research method used quantitative regression with data on the characteristics of Islamic banks taken from the websites of each bank. This study used discretionary loan loss provision as a proxy for measuring earnings management.

Findings

The results show that only the audit committee size has a significantly negative effect on earnings management. An independent audit committee has a negative, but not significant, effect. The difference expectation signs cannot be interpreted further.

Research limitations/implications

Only a few components of corporate governance were tested in this study. Therefore, it is expected that future studies will include more components.

Practical implications

In general, the components of corporate governance that include the characteristics of the board of directors and the audit committee have a varied effect on reducing the earnings-management practices in Islamic banks, except audit committee size. In practice, audit committee size should have an important role in earning management reduces.

Originality/value

This may be the first paper that studies the effect of corporate governance on earnings management in Islamic banks in Asia.

Details

Journal of Islamic Accounting and Business Research, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1759-0817

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Article
Publication date: 22 November 2021

Ge Ren and Ping Zeng

Drawing on the gender self-schema theory, upper echelons theory and the literature on international business, this study aims to examine the impact of board gender…

Abstract

Purpose

Drawing on the gender self-schema theory, upper echelons theory and the literature on international business, this study aims to examine the impact of board gender diversity on firms' internationalization speed.

Design/methodology/approach

In this study, secondary data of 886 listed Chinese manufacturing firms from 2009 to 2018 are studied using the ordinary least squares regression model as the baseline method, an instrumental variable method is adopted for endogeneity control and both fixed and random effect models are adopted for the robustness test.

Findings

Board gender diversity reduces firms' internationalization speed, and the negative effect between board gender diversity and internationalization speed is stronger when the average age of female directors is older and weaker when female directors have international experience or financial background.

Practical implications

First, Chinese firms need to increase or decrease board gender diversity to match the board to firms' internationalization strategy. Increasing board gender diversity may be a more appropriate choice for firms that are expanding rapidly internationally, and vice versa. Second, when introducing female directors to international firms, it is essential to address other characteristics of these directors beyond their gender.

Originality/value

First, the authors contribute to the literature on board gender diversity using Chinese manufacturing firms as our research sample, which provides new insights into the economic consequences of increasing the number of female directors. Second, this research contributes to the literature on firms' internationalization speed. Third, the authors capture in more detail the economic consequences of increasing board gender diversity in the context of China.

Details

Baltic Journal of Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1746-5265

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Abstract

Details

Journal of Business Strategy, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0275-6668

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Article
Publication date: 23 November 2021

Saleh F.A. Khatib, Dewi Fariha Abdullah, Ahmed Elamer, Ibrahim Suleiman Yahaya and Andrews Owusu

This study aims to identify the main research development on board diversity and offers a quantitative synopsis of key themes and contributors, knowledge gaps and provides…

Abstract

Purpose

This study aims to identify the main research development on board diversity and offers a quantitative synopsis of key themes and contributors, knowledge gaps and provides directions for further work.

Design/methodology/approach

Using a bibliometric analysis, the authors assess the patterns in global board diversity research based on co-occurrences of researchers’ keywords and publication outputs of 991 articles from the Scopus database. Also, the co-citation network analysis was performed to assess the intellectual structure of board diversity research.

Findings

According to the keyword analysis, the authors found that researchers focus on the gender diversity of the boardroom while ignoring the cognitive diversity and other aspects of demographic diversity such as educational, ethnic, age, nationality, experience, background and tenure, pointing to the need for further work to consider other diversity attributes and the interaction between them. Additionally, board diversity research related to (but not limited to) payout policy, cash holding, initial public offerings, small–medium enterprises and financial institutions is limited.

Originality/value

This study provides a comprehensive evaluation of the development of board diversity research (using a large archival database) and identifies the common construct as well as the potential opportunities for future research directions.

Details

Meditari Accountancy Research, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2049-372X

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Article
Publication date: 18 November 2021

Kaushik Lahiri, Buddhike Sri Harsha Indrasena and Jill Aylott

National Health Service (NHS) Emergency Department (ED) attendances are at the second highest level ever recorded, (RCEM, 2021a) and as they soar, performance plummets…

Abstract

Purpose

National Health Service (NHS) Emergency Department (ED) attendances are at the second highest level ever recorded, (RCEM, 2021a) and as they soar, performance plummets, putting patient safety at risk (RCEM, 2021b). Managing patient flow in the ED is critical to reduce patient safety incidents and crowding, however, this needs effective leadership (Jensen and Crane, 2014). This paper aims to introduce an innovative form of managing patient flow in ED, which is a two hourly “Board Rounds”, providing a managed process to pull patients through the system meeting pre-determined time critical standards and preventing patient harm. Board Rounds combined with effective leadership can play a contributory role preventing crowding in the ED.

Design/methodology/approach

An evaluation of two hourly ED Board Rounds was undertaken using the hospitals’ ED Board Round Standard Operating Procedure to develop a series of short questions. As leadership is the responsibility of all clinicians (Darzi, 2008; Moscrop, 2012), a separate survey was undertaken for clinicians of all grades and managers to self-assess their own leadership styles using the Path-Goal Leadership Theory (House and Mitchell, 1974; Indvik, 1985; Northhouse, 2013). Findings were reported to the team to explore ideas for improvement not only to develop more effective leadership in the ED but also to raise awareness of how to optimise leadership in Board Rounds.

Findings

In total, 27 (n = 27) clinicians and managers reported support for a 2 hourly Board Round, for a period of 15 min, in both minor and major injuries departments in ED. A multi-disciplinary Board meeting, led by the lead nurse with support from the Emergency Physician in Charge, was preferred, locating it at the nurse’s station. A validated Path-Goal Leadership survey instrument was returned (n = 24). The findings reveal that leaders and managers are using a high level of the directive leadership style, where there is more potential to use the supportive, participative and achievement approaches to leadership.

Research limitations/implications

This was a small sample, returned from a Hospital ED located in a semi-rural location, department requiring “improvement” from the Health Regulator. This research would benefit from being undertaken in a medium/large NHS ED department to identify if the findings report on a wider leadership culture in the NHS ED. The implications for this study are that improvement interventions such as a “Board Round” can be usefully evaluated alongside a review of leadership styles and approaches to understand the wider implications for continuous improvement and change in the ED.

Originality/value

NHS EDs are facing unprecedented challenges and require innovative evidence-based solutions combined with leadership at this time. The evidence base for improving patient flow is limited, however, this study provides some initial findings on the positive perception and experience of staff to Board Rounds. Board Rounds combined with leadership has the potential to contribute to the wider strategy to prevent crowding in ED. This paper is the first of its kind to evaluate perceptions of Board Rounds in the ED and to engage clinicians and managers in a self-assessment of their own leadership styles to reflect on optimum leadership styles for use in ED.

Details

Leadership in Health Services, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1751-1879

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Article
Publication date: 7 December 2021

Hanen Ben Fatma and Jamel Chouaibi

The purpose of this paper is to examine the impact of the characteristics of two corporate governance mechanisms, namely, board of directors and ownership structure, on…

Abstract

Purpose

The purpose of this paper is to examine the impact of the characteristics of two corporate governance mechanisms, namely, board of directors and ownership structure, on the firm value of European financial institutions.

Design/methodology/approach

Using the market-to-book ratio calculated by the Thomson Reuters Eikon ASSET4 database, this study measures the firm value of 111 financial institutions belonging to 12 European countries listed on the stock exchange during the period 2007–2019. Multivariate regression analysis on panel data is used to estimate the relationship between corporate governance attributes, such as board size, board independence, board gender diversity, ownership concentration and CEO ownership, and the firm value of European financial institutions.

Findings

The empirical results reveal that board gender diversity and CEO ownership are positively related to the firm value, whereas board size and ownership concentration are negatively related. Furthermore, the findings suggest that board independence is insignificantly correlated with the firm value. Regarding the control variables, the results show that financial institutions' size, age and legal system are significant factors in changing the firm value. Nevertheless, financial institutions' leverage and activity sector are not significantly correlated with their value.

Originality/value

This research contributes to the literature by providing the significant links between some corporate governance mechanisms and the firm value of companies from the financial industry, by addressing the information gap for this critical industry in the context of a developed market like Europe.

Details

International Journal of Productivity and Performance Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1741-0401

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Article
Publication date: 18 November 2021

Xiaoguo Xiong, Weihong Chen and Xi Zhong

While the effect of vertical pay dispersion on the voluntary turnover rate of vice presidents (VPs) has received attention, the existing research conclusions are still…

Abstract

Purpose

While the effect of vertical pay dispersion on the voluntary turnover rate of vice presidents (VPs) has received attention, the existing research conclusions are still divided. Therefore, this study aims to explore the relationship between vertical pay dispersion and voluntary turnover rate of VPs in a Chinese context using data from listed firms.

Design/methodology/approach

Integrating tournament theory and social comparison theory, this study examines the non-linear effect of vertical pay dispersion on VPs’ voluntary turnover rates using empirical data from Chinese A-share listed firms from 2007 to 2016.

Findings

The results reveal a U-shaped relationship between vertical pay dispersion and the voluntary turnover rate of VPs. After further incorporating the moderating effect of the board governance structure, the effect is found to be enhanced in firms with more efficient board governance (i.e. smaller board size, higher board turnover and higher proportion of outside directors). Further analysis indicates that the aforementioned conclusions mainly exist in non-state-owned enterprises rather than state-owned enterprises.

Originality/value

The findings deepen the understanding of the costs and benefits associated with vertical pay dispersion, enrich the research findings on pay dispersion and contribute to the integration of previously inconsistent findings.

Details

Chinese Management Studies, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1750-614X

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