Publishing corporate governance research during a pandemic

Stathopoulos, Konstantinos; Talaulicar, Till

doi:10.1111/corg.12378

Cited by 2 publications

(2 citation statements)

References 21 publications

(19 reference statements)

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“…For example, given Putnam's (2001) documentation of the decline of social capital in American society, future research could examine how lower levels of civic norms and social networks may be associated with some firm and board practices. Answering calls to explore corporate governance issues in a pandemic (Stathopoulos & Talaulicar, 2021), this inquiry could explore how some country, state, and county‐level Covid pandemic shutdowns led to considerable losses of social networks and a sense of community, and also lowered education about and participation in civic norms, resulting in new paradigms for corporate governance. Dynamism on the corporate governance policy front is also a critical area of inquiry as within the last 2 years, the U.S. state of California and the NASDAQ establishes guidelines that all publicly‐traded entities must have at least one female director.…”

Section: Discussionmentioning

confidence: 99%

Social capital and board gender diversity

Afzali

Silvola

Terjesen

2021

Corporate Governance

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Research question/issue This study explores the relationship between the level of social capital in the location of a firm's headquarter and the presence of female board directors. We measure local social capital by civic norms (i.e., voter turnout and census participation) and density of social networks (i.e., community, professional, church, and sports). We hypothesize that greater levels of local social capital will increase the share of female directors on local firms' boards, including women attaining a critical mass presence as well as member and chair roles on the board's audit, compensation, and nomination committees. Research findings/insights Using 53,671 observations from U.S. public companies from 2000 to 2018, we find that firms headquartered in counties with higher levels of social capital have higher percentages of women directors. The results are robust to the inclusion of local female labor participation rate, religiosity, and other county‐level demographics as well as instrumental variable and propensity score matching models. We also find that female directors in firms located in high social capital counties are more likely to achieve a critical mass; attain membership of audit, compensation, and/or nomination committees; and serve as chair of audit and nomination committees than female directors in firms located in low social capital counties. A robustness check with an international sample reveals similar results. Theoretical/academic implications We build on institutional theory to highlight that the informal institution of social capital, in the form of U.S. county‐level civic norms and social networks, shapes gender composition of local firms' boards. We build institutional theory at two levels of the quest for “fit” to the environment: firms seeking “fit” by creating more leadership opportunities for women, and individuals pursuing “fit” by moving up in corporate careers. We outline theoretical mechanisms including underlying informal societal norms of greater trust, tolerance for gender equality, respect for civil liberties, cooperative and helpful behavior, transparency, external monitoring, and less discrimination and information asymmetry. Practitioner/policy implications Our findings offer insights to policymakers and practitioners interested in how local social capital shapes firm and individual actions. Our policy‐related findings suggest that communities with greater civic norms are characterized by greater individual commitment to and trust in communities, equality, helpful behavior, and external monitoring, and less cynicism, and this context enables women to reach corporations' highest echelons. To maximize career prospects, women can attain leadership and other skills through local societal associations and build and strengthen ties in counties with higher levels of social capital. Firms should actively support community associations and direct philanthropy towards building social fabric in local communities.

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Section: Discussionmentioning

confidence: 99%

Social capital and board gender diversity

Afzali

Silvola

Terjesen

2021

Corporate Governance

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“…Under the first scheme, organizations adapt to an institutional framework and can be affected by their environment (Sarta et al , 2021). Thus, empirical evidence holds that national institutions have a role in the decisions and effectiveness of organizations’ governance practices (Filatotchev et al , 2013; Stathopoulos and Talaulicar, 2021; Zattoni et al , 2020), and the economic and investment decisions of firms are conditioned by the institutional environment in which they operate (Hernández et al , 2022; García-Sánchez et al , 2015).…”

Section: Theory and Hypothesis Developmentmentioning

confidence: 99%

What determines the presence of women on corporate boards? Empirical evidence from emerging markets

Ahmadova

Valenzuela-Ortiz

2023

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Purpose This study aims to understand what drives firms towards board gender diversity in emerging markets. The authors examine the effect of regulative, normative and cognitive pressures on board gender diversity and the moderating effect of national governance quality. Design/methodology/approach This study tested the hypotheses using unbalanced panel data for the period between 2014 and 2019, which includes 1,384 observations of 380 different firms located in emerging markets. Findings The results reveal that board gender diversity is directly conditioned by normative pressures (women’s economic and educational empowerment). This relationship becomes stronger if firms are located in countries with high governance capacity. Interestingly, this study finds that regulative and cognitive pressures do not enhance women’s presence on boards if they are not accompanied by strong national governance. Originality/value Although we have learned in recent years about how women’s presence on boards brings positive corporate outcomes, we know little about how country-level antecedents foster or hinder this gender diversity. This paper expands knowledge of the way gender-related institutions affect a firm’s board gender diversity, and these findings have policy implications for firms, policymakers, the government and other institutions.

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Publishing corporate governance research during a pandemic

Cited by 2 publications

References 21 publications

Social capital and board gender diversity

Social capital and board gender diversity

What determines the presence of women on corporate boards? Empirical evidence from emerging markets

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