The Vital Role of Gender Diversity on Corporate Outcomes: The Need for Empirical Studies Concerning Frontier Markets

Badru, Bazeet Olayemi; Bagudu, Hauwa Daniyan; Alfa, Abdulmumini Baba

doi:10.5296/ajfa.v7i2.8404

Cited by 8 publications

(3 citation statements)

References 67 publications

(74 reference statements)

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“…Therefore, the impact of gender diversity in corporate boardrooms remains contentious. Extant literature has documented that the association between gender diversity and market measures is mixed (Abdullah and Ku Ismail, 2013;Badru et al, 2015). Some have found it to be detrimental (Adams and Ferreira, 2009), whilst others have found it to be insignificant (Carter et al, 2010;Rose, 2007).…”

Section: Robustness Testsmentioning

confidence: 99%

Board characteristics and the amount of capital raised in the Malaysian IPO market

Badru

Ahmad‐Zaluki

Wan‐Hussin

2017

Journal of Multinational Financial Management

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This study examines the impact of board characteristics on the amount of capital raised through an IPO for a sample of 220 Malaysian IPOs over the period of 2005 to 2015, applying both ordinary least squares (OLS) and quantile regression (QR) techniques. The OLS results show that board with ethnic Malay directors has a significant and positive association with the amount of capital raised, while a weak significance is found for board size. However, the QR results reveal that other than board ethnicity, other board characteristics namely board size, board independence and CEO duality are significantly associated with the amount of capital raised. The additional results suggest that QR provides a more insightful and full picture into the 2 association than does OLS. The overall empirical evidence lends support to the resource dependence role of the board of directors at the time of an IPO.

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Section: Robustness Testsmentioning

confidence: 99%

Board characteristics and the amount of capital raised in the Malaysian IPO market

Badru

Ahmad‐Zaluki

Wan‐Hussin

2017

Journal of Multinational Financial Management

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“…Evidence suggests that strategic change, strategic leadership, external environment and their relationship to TMT diversity and performance may be a fruitful area for further exploration. The review found some previous research showing mixed or negative effects of TMT diversity (Cannella & Monroe, 1997;Elsaid 2012;Bagudu & Abdulmumini 2015) and by the suggestion that TMT diversity not only has positive cognitive implications but also negative social implications (Hambrick et al, 1996;Haleblian & Finkelstein 2013). As Jarzabkowski & Rosalind (2003) recently argued, these teams may suffer from behavioural disintegration i.e., less communication within teams and a lower likelihood of reaching consensus with new ideas and strategic initiatives being the first to suffer (Priem, Lyon & Dess, 1999).…”

Section: Discussionmentioning

confidence: 98%

Value of Top Management Team Diversity in Driving Strategic Change, Strategic Leadership and Its Impact on Performance of Firms: A Critical Review of Empirical Evidence

GACHUGU,

AWINO (Ph.D),

VINCENT (Ph.D)

et al. 2019

strategicjournals.com

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Confronted with complexities in the operating environment, contemporary organizations are forced to seek high quality management strategies that allow them to gain sustained competitiveness and ensure optimal performance. Pursuit of Top Management Team (TMT) diversity is one of the key strategies applied in the modern organizations to optimize performance. This study sought to review previous research assessing the influence of TMT diversity on performance of organizations while considering the effects on strategic change, strategic leadership and external environment. This was achieved by systematically reviewing 28 studies selected from various sources to find out the earlier findings on this topic. The study found that prior research suggests that TMT diversity impacts the performance of organizations. In addition, exploring the other dimensions of strategic change, strategic leadership and external environment indicated that outcomes change over time as TMT members interact over the years, though none of the studies reviewed directly assess this relationship. This article reviewed a selection of studies on TMT diversity and concluded with suggestions and implications of future research in this topic. Finally, the study found no evidence of previous research that linked or established the joint influence of TMT diversity, strategic change, strategic leadership, external environment on organization performance. Therefore, the study recommended in-depth scientific research on the influence of strategic change, strategic leadership and external environment on the relationship between top management team diversity and organizational performance.

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“…Some empirical studies conducted recently in some developed and emerging economies reported a significant association between ethnic diversity and the extent of voluntary disclosure [51][52][53]. Conversely, other empirical shreds of evidence presented (e.g., [5,54]) have all shown a negative influence on firms' voluntary disclosure. For instance, Bravo [55] empirically investigated whether ethnic diversities have any influence on corporate disclosure and suggested that the disclosure of crucial information in the capital markets is significantly improved by ethnic diversity.…”

Section: Effect Of Ethnic Diversity On Voluntary Disclosurementioning

confidence: 98%

Moderating Role of Governance Regulatory Compliance on Board Diversity and Voluntary Disclosure of Non-Financial Firms in a Developing Country

et al. 2023

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The main aim of this paper is to investigate the moderation influence of CG regulatory compliance on the relationship between board diversity and voluntary disclosure (VD) of Nigerian listed firms since the literature on disclosure studies has concentrated principally on examining a direct relationship between internal governance mechanisms, neglecting the external regulations. Being an ex post facto design, a sample of 67 firms listed in the Nigerian stock exchange for the period 2012–2017 is used. A system GMM approach (being the best and most contemporary panel approach) is employed. The study revealed that the interaction of regulatory code compliance with board gender and ethnic diversity has a significant positive impact on the firms’ voluntary disclosure. The result also indicates that ethnic diversity shows a positive and significant association with voluntary disclosure. To the best of the researchers’ knowledge, this study is among the few attempts at explicitly examining the effect of CG regulatory compliance on board diversity and VD in CG studies, especially in a developing economy such as that of Nigeria. Additionally, it is among the few attempts that provide empirical results using superior dynamic panel models. This study provides a strong practical implication for business firms, policymakers, future research, and society. For instance, the findings have direct implications for Nigerian firms in the selection of directors in order to comprise well-educated people of different ethnic backgrounds and be inclusive of females.

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The Vital Role of Gender Diversity on Corporate Outcomes: The Need for Empirical Studies Concerning Frontier Markets

Cited by 8 publications

References 67 publications

Board characteristics and the amount of capital raised in the Malaysian IPO market

Board characteristics and the amount of capital raised in the Malaysian IPO market

Value of Top Management Team Diversity in Driving Strategic Change, Strategic Leadership and Its Impact on Performance of Firms: A Critical Review of Empirical Evidence

Moderating Role of Governance Regulatory Compliance on Board Diversity and Voluntary Disclosure of Non-Financial Firms in a Developing Country

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