Boardroom gender diversity and CEO pay deviation: Australian evidence

Ahmed, Ammad; Atif, Muhammad; Gyapong, Ernest

doi:10.1111/acfi.12696

Cited by 21 publications

(13 citation statements)

References 89 publications

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“…but that should not have a direct or indirect relation with the dependent variable (exogenous variable) is a challenge when using the 2SLS technique. A valid IV must meet two conditions: first, the relevance 15 The mean differences between treatment and control groups are based on the average treatment effect on the treated (Ahmed et al, 2021;Nadarajah et al, 2021).…”

Section: Endogeneity Testsmentioning

confidence: 99%

The effect of corporate environmental, social and governance disclosure on cash holdings: Life‐cycle perspective

2022

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This paper examines the impact of corporate environmental, social and governance (ESG) disclosure on cash holdings, specifically during various stages of the firm life cycle of S&P 1500 indexed firms. Using a sample of 9811 firm-year observations from 2006 to 2015, we document a significantly negative relation between ESG disclosure and cash holdings in the introduction, growth and shake-out/decline stages, and those lower cash holdings are associated with higher firm performance and a positive value of cash. Our findings are robust to alternative econometric specifications, alternative measures, additional control variables, propensity score matching and the use of an instrumental variable approach. Overall, our study offers useful insights into the global debate on ESG.

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Section: Endogeneity Testsmentioning

confidence: 99%

The effect of corporate environmental, social and governance disclosure on cash holdings: Life‐cycle perspective

2022

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“…The accounting scandals that have occurred over the past two decades (e.g. Enron and WorldCom) have emphasized the importance of the quality of audit services (Ahmed et al , 2020). These scandals have led to the passage of regulations (e.g.…”

Section: Introductionmentioning

confidence: 99%

Female CEO succession and audit fees: evidence from China

Gull

Atif

Issa

et al. 2021

MAJ

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Purpose This paper aims to examine whether CEO succession with gender change (male to female) affects audit fees in the Chinese setting. In addition, this study examines whether the relationship exists in both types of ownership, i.e. non-state-owned enterprises (SOEs) and SOEs. Design/methodology/approach This study uses data from all A-share non-financial firms listed on both the Shanghai Stock Exchange (SSE) and Shenzhen Stock Exchange (SZSE) for the period 2009 to 2015. To draw inferences, this study uses pooled ordinary least squares regression as a baseline technique. This study performs sub-sample analyzes for robustness. To account for endogeneity, this study uses three techniques including firm fixed-effects regression, the two-step Heckman model and the system generalized method of moments (GMM). Findings This study documents a significantly negative relationship between CEO succession with gender change and audit fees. However, the negative effect of CEO succession on audit fees is more pronounced in non-SOEs than SOEs. This study also finds, in additional analyzes, a strong negative effect of female CEO succession on audit fees in sub-sample of large, high-risk, high-performance and firms audited by non-big auditors. The main finding is robust across three endogeneity techniques. Practical implications The findings add to the ongoing debate about the underrepresentation of women in key executive positions such as CEO. The results suggest that CEO succession from male to female has a favorable effect on the quality of internal monitoring mechanisms (due to the superior monitoring skills of women) and enhances the quality of financial reporting. The study has practical implications for regulatory bodies and corporate decision-makers; this study encourages them to look into considering women in the executive succession framework. Originality/value This study contributes to the literature by exploring the effect of CEO succession with gender change (male to female) on audit fees in the context of China and the existence of this relationship in non-SOEs and SOEs.

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“…In accordance with previous studies (Ahmed et al, 2021;Dai et al, 2020;Al Farooque et al, 2019;Kanagaretnam et al, 2018), we control for the following variables: the size of the company (Size), financial leverage (LEV), enterprise growth (Growth), the shareholding ratio of the largest shareholder (Top1), and the proportion of independent directors (Indep). The aim is to establish variables for the compensation committee (Set) and the place of incorporation (Area).…”

Section: Methodsmentioning

confidence: 99%

“…The aim is to establish variables for the compensation committee (Set) and the place of incorporation (Area). Finally, following previous studies (Ahmed et al, 2021;Al Farooque et al, 2019;Kanagaretnam et al, 2018), we control for the year and industry-fixed effects. Descriptions of all variables and measurements of the results are presented in Table 2.…”

Section: Methodsmentioning

confidence: 99%

Does hometown connection between chairmen and CEOs improve compensation–performance sensitivity in China?

Wang

You

et al. 2023

Humanit Soc Sci Commun

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Based on a the micro dataset set of private Chinese-listed companies, this study examines the in detail the impact of hometown connections between chief executive officers (CEOs) and chairmen on CEO compensation–performance sensitivity. The empirical results suggest that a hometown connection prompts both the chairman and the CEO to pay more attention to their reputations, which improves CEO compensation–performance sensitivity. This hometown effect is more pronounced when the hometown culture is strong and the degree of marketization is high. The mechanism test reveals that an externally hierd CEO strengthens the influence of a hometown connection on CEO compensation–performance sensitivity, however, this influence weakens with increasing CEO tenure. Overall, this study enriches the literature on informal institutions and compensation contracts and provides valuable insights for company managers and policymakers in emerging markets.

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Boardroom gender diversity and CEO pay deviation: Australian evidence

Cited by 21 publications

References 89 publications

The effect of corporate environmental, social and governance disclosure on cash holdings: Life‐cycle perspective

The effect of corporate environmental, social and governance disclosure on cash holdings: Life‐cycle perspective

Female CEO succession and audit fees: evidence from China

Does hometown connection between chairmen and CEOs improve compensation–performance sensitivity in China?

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