The Value Relevance of Board Gender Diversity for NZX Listed Firms and its Association with Growth Options

Dunstan, Keitha; Keeper, Trish; Truong, Thu Phuong; Zijl, Tony van

doi:10.2139/ssrn.1979995

Cited by 2 publications

(3 citation statements)

References 37 publications

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“…Dunstan et al . () suggest that female participation boosts growth options, but diminishes beyond certain levels. Additionally, Hoogendoorn, Oosterbeek and Van Praag () stress team gender balance in optimizing financial performance.…”

Section: Multivariate Resultsmentioning

confidence: 99%

“…(), Dunstan et al . () and Hoogendoorn, Oosterbeek and Van Praag () suggest that gender balance is important. There may also be a critical mass prescription (Konrad, Kramer and Erkut, ).…”

Section: Theory and Hypothesesmentioning

confidence: 99%

“…Multiples peak when women account for between 15% and 40% of SMT personnel. Findings thus emphasize gender balance (Apesteguia, Azmat and Iriberri, ; Christiansen et al ., ; Dunstan et al ., ; Hoogendoorn, Oosterbeek and Van Praag, ). My results also reveal strong associations between underwriter quality and SMT members’ educational profiles (Deeds, Mang and Frandsen, ; Lester et al ., ; Zimmerman, ).…”

Section: Introductionmentioning

confidence: 99%

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Beyond the Board Realm: Women in Senior Management and their Impact on IPO Capital Funding

McGuinness

2018

British J of Management

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This study assesses the importance of female senior managers in Chinese IPO firms debuting in Hong Kong. I define senior management teams (SMTs) in relation to IPO prospectus disclosures. For the vast majority of firms, little to no overlap exists between SMT members and board personnel. Women are much better represented in SMTs than on boards. A central hypothesis is that Chinese firms' SMT members implement business strategy while board officers provide political connections. Unlike boards, female representation at SMT level strongly supports initial valuations. Findings suggest that women offer resource dependencies, add expertise and boost capital funding. In contrast to boards, underwriter quality is increasing in female representation at SMT level. Higher‐quality underwriters also gravitate towards SMTs with stronger academic bona fides. The present study also contributes by drawing connections and prescriptions with wider upper echelons, resource dependence and stakeholder theories. Overall, findings suggest that gender‐diverse SMTs play a major role in capital funding. More gender‐inclusive SMTs thus foster both social and business objectives.

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Section: Multivariate Resultsmentioning

confidence: 99%

“…(), Dunstan et al . () and Hoogendoorn, Oosterbeek and Van Praag () suggest that gender balance is important. There may also be a critical mass prescription (Konrad, Kramer and Erkut, ).…”

Section: Theory and Hypothesesmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

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Beyond the Board Realm: Women in Senior Management and their Impact on IPO Capital Funding

McGuinness

2018

British J of Management

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Board diversity and effectiveness: Implications for the role of the chair

Northcott¹,

Smith²

2015

COC

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This paper examines how social (ethnic and gender) diversity influences board effectiveness and impacts the role of the chair. It draws on semi-structured interviews with New Zealand board members from two company types - stated-owned enterprises (SOEs) and public listed companies (PLCs) - where the former has greater social diversity around the board table. Few prior studies of board effectiveness have accessed the views of board members via interviews, or compared directors’ perspectives from companies of similar size but differing board diversity. The findings reveal that members of SOE boards, where there is greater social diversity, saw negative director characteristics (character and attitude) and weak board relationships as strongly negative influences on board effectiveness. This group also identified poor boardroom practice (i.e. failing to achieve a boardroom atmosphere that fosters quality debate and effective decision making) as having a significant, negative impact on board outcomes. While board members in both company types saw the chair as a key influence on both board effectiveness and ineffectiveness, the ways in which the chair was seen to exert that influence differed between the company types, suggesting that diversity impacts the role of the chair as leader of the board

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The Value Relevance of Board Gender Diversity for NZX Listed Firms and its Association with Growth Options

Cited by 2 publications

References 37 publications

Beyond the Board Realm: Women in Senior Management and their Impact on IPO Capital Funding

Beyond the Board Realm: Women in Senior Management and their Impact on IPO Capital Funding

Board diversity and effectiveness: Implications for the role of the chair

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