Female presence in corporate governance, firm performance, and the moderating role of family ownership

Amin, Ali; Ali, Rizwan; Rehman, Ramiz Ur; Naseem, Muhammad Akram; Ahmad, Muhammad Ishfaq

doi:10.1080/1331677x.2021.1952086

Cited by 50 publications

(55 citation statements)

References 77 publications

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“…Moreover, Halcro et al (2021) conclude that smaller companies are more driven to grow, showing that larger companies have worse performances. Other studies failed to identify a significant relationship between size and corporate performance (e.g., Amin et al, 2021;Arioglu, 2021;Kagzi and Guha, 2018;Proença et al, 2020).…”

Section: Company Sizementioning

confidence: 99%

Determinants of Iberian companies’ performance: corporate boards and the nonlinearity of gender diversity

Proença

Neves

2022

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Purpose This paper aims to analyze the performance determinants of listed companies in the Iberian Peninsula, focusing on the analysis of the effect of gender diversity and the structure of the board of directors. Design/methodology/approach To achieve this aim, the authors analyzed 97 listed companies, of which 23 are Portuguese and 74 are Spanish, between 2015 and 2019. The authors use Arellano and Bond’s (1991) generalized method of moments system model to test the hypotheses. Findings The results show an important impact of corporate governance variables on corporate performance. Specifically, board size, average director age and board academic qualifications are crucial to explaining profitability and market value. Moreover, the authors identified a nonlinear relationship between gender diversity and profitability and market value levels due to critical mass theory and quotas that enhance more social justice. The authors concluded that the corporate performance determinants differ depending on the performance measures. Originality/value To the best of the authors’ knowledge, this study is the first to analyze the nonlinear effect of gender diversity and board structure (size, educational qualifications and average director age) on the performance of Iberian listed companies as a single market.

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Section: Company Sizementioning

confidence: 99%

Determinants of Iberian companies’ performance: corporate boards and the nonlinearity of gender diversity

Proença

Neves

2022

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“…Gender significantly differs in some aspects of leadership style (Oshagbemi & Gill, 2003). The involvement of women in corporate governance is positively linked to a company's financial performance (Amin et al, 2021). Companies with gender-diverse leaders are more effective at implementing environmentally friendly strategies than other companies (Glass et al, 2016).…”

Section: Literature Review and Hypotheses Developmentmentioning

confidence: 99%

Do owner-manager demographics in SMEs matter for corporate social responsibility?

Çera

Khan²,

Bláhová³

et al. 2022

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Research background: According to the EU agenda, CSR should be considered an integral element of the current organizational strategy, including SMEs. While the debate continues about the optimal approach for successful CSR adaptation in SME, yet there is a need to shed light on the impact of owner-manager?s demographics on CSR practices. Purpose of the article: The paper aims to examine whether owner-manager?s demographics (age, gender, education) matter for the implementation of CSR or not. Methods: The study is based on a questionnaire filled in by owner-managers of SMEs operating in Czechia (454) and Slovakia (368). Factor analysis and nonparametric methods are used to test the hypotheses. Findings & value added: This study shows that the relationships between CSR and owner-manager?s demographics are not alike between Slovakia and Czechia. Compared to owners, the evidence shows that the Czech managers are more oriented toward the CSR practices, while in Slovakia there is no difference. Such finding can be explained by Hofstede culture difference. In addition, analysis demonstrates that female Slovaks are more oriented to CSR than men, while it is not true in Czechia. Moreover, Czech individuals who graduated in the same field as their business are more oriented to the CSR, whereas in Slovakia this is not. In addition, young and old Slovak entrepreneurs are more oriented to the CSR than those 35-55 years old, manifesting a U-shape type of relationship. The originality of this work is manifested by the fact that it enriches the literature since it is among the first studies to analyze the relationships between owner-manager?s demographics and CSR in the SME segment for Czechia and Slovakia.

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“…Female directors are less thirsty for power, more diligent in overseeing and controlling certain processes, and more concerned with the quality of financial reporting [13,14]. As Adams et al [15] and Amin et al [16] pointed out, from the perspective of investors the presence of women managers and their independence on the board are factors that enhance the future performance of the business. Elliott and Smith [6] showed that women on the board are more likely to push for more women to lead, and Adusei et al [17] demonstrated the positive and statistically significant relationship between the board gender diversity and management gender diversity.…”

Section: Introductionmentioning

confidence: 99%

The Complexity of Interaction between Executive Board Gender Diversity and Financial Performance: A Panel Analysis Approach Based on Random Effects

2022

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This study examined the influence of the executive board of directors’ gender diversity on the financial performance of listed companies on the Bucharest Stock Exchange, for the period 2011 to 2019. The analysis of the composition and different characteristics of the board and the executive directors proved to be effective tools for corporate governance in countries with an emerging capital market. Therefore, a disclosure index on directors’ characteristics was used to moderate the interaction between gender diversity and financial performance, based on the theoretical framework provided by upper echelon theory. The study contributes to the enrichment of the literature both by using the composite indicator built by applying the multiway PCA method on panel data to express financial performance and by designing the ten EGLS panel models involving five financial indicators and two proxies for gender diversity. The results showed that there is a positive impact of the proportion of women on the executive board of directors on financial performance, measured through the composite index, ROA, ROE, and SOL. A statistically significant impact of gender diversity on financial performance was found only for SOL, in the case of the Blau index. Also, using the random-effects model to perform the panel data analysis, the results showed that a higher executive board size can be associated with better financial performance measured through the composite index, ROA, ROE, and EPS. Practical implications are significant for the board of executives’ composition, the complexity of the relationship with the board, and reshaping governance practices.

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Female presence in corporate governance, firm performance, and the moderating role of family ownership

Cited by 50 publications

References 77 publications

Determinants of Iberian companies’ performance: corporate boards and the nonlinearity of gender diversity

Determinants of Iberian companies’ performance: corporate boards and the nonlinearity of gender diversity

Do owner-manager demographics in SMEs matter for corporate social responsibility?

The Complexity of Interaction between Executive Board Gender Diversity and Financial Performance: A Panel Analysis Approach Based on Random Effects

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