Women on boards of directors: the moderation role of female labour force participation

Hamdan, Reem; Hamdan, Allam; Alareeni, Bahaaeddin; Atayah, Osama F.; Alhalwachi, Layla Faisal

doi:10.1108/cr-01-2021-0001

Cited by 10 publications

(4 citation statements)

References 67 publications

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“…Within the digital and technological context, the so-called “Fintech” must be highlighted. Fintech refers to the latest technologies used in innovative financial products and services, and it is considered to be one of the most important new markets and cutting-edge business models in recent times (Abdullahi et al , 2021; Hamdan et al , 2021). Even though the FinTech business model is still in its infancy stages, the exponential expansion of investment in this innovation indicates stakeholders’ acceptance and trust in this business model (Chen et al , 2021).…”

Section: Introductionmentioning

confidence: 99%

Does sustainability matter for Fintech firms? Evidence from United States firms

Najaf

Khalifa²,

Obaid

et al. 2022

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Purpose This study aims to look at how financial technology (FinTech) companies adhere to sustainable standards in contrast to their counterparts. Following the validation of its new sustainability index, this study looks into the impact of sustainability on the stock performance of FinTech companies. Design/methodology/approach To efficiently test the hypotheses, sample has been collected from the Bloomberg of all FinTech and non-FinTech companies from the USA. The final sample comprises 1,712 company-year observations over the investigation period 2010–2019. The methodology entails ordinary least squares regressions and generalized panel methods of moments (GMM). Findings The results suggest that the developed sustainability index is a valid proxy for sustainability measures and directly relates to stock performance. Besides, the evidence indicates that non-FinTech companies display superior sustainability and stock performance compared to FinTech companies. The present results corroborate with stakeholder theory, which implies that quality sustainability performance will alleviate the agency issue and safeguard the shareholders’ interest. Research limitations/implications Despite the fact that it presents the limitation of not considering other dimensions of financial performance, this research is important as it highlights the sustainability practices by the FinTech and non-FinTech companies, offering insights to researchers, policymakers, regulators, financial reports users, investors, environmental union, employees, clients and society. Originality/value This paper is novel because it is unique in evaluating the sustainability practices in FinTech and non-FinTech firms.

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Section: Introductionmentioning

confidence: 99%

Does sustainability matter for Fintech firms? Evidence from United States firms

Najaf

Khalifa²,

Obaid

et al. 2022

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“…Further measures were taken to enhance non‐gender diversity (e.g., in terms of ethnicity, nationality, and age) in the French corporate law code (Women in the boardroom: A global perspective, 2017). Female representation among CAC40 indexed companies is 42% while that of SBF120 indexed companies is 40%; this shows full compliance with the French quota mandates and one of the highest percentages of women directors in the world (Hamdan, Hamdan et al, 2021).…”

Section: Literature Review and Hypotheses Formationmentioning

confidence: 86%

Institutional ownership and women representation on boards in three different institutional settings

Hamdan,

Barone

et al. 2024

Bus Strat Dev

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This study aims to investigate the moderating effect of country level institutional variables on the relationship between institutional ownership and board gender diversity. Using firm and country level data of three different cultural environments (Gulf Cooperation Council countries, UK, and France) for the years 2018–2019, this study concludes that institutional elements related to women (Women Tertiary education levels; legal support, Economic Participation and culture) create isomorphic pressure on firms that enhance the role of institutional owners in increasing women representation on board of directors. Other governance elements, such as ownership concentration, board independence and board size may indicate governance levels better than board gender diversity in certain institutional environments. The study recommended that board gender diversity should not be a priority for investors and portfolio managers in financial markets where reduced female labor market participation exists. Moreover, quotas may be a good tool for enhancing female representation among boards in contexts that have reduced female labor market participation and high levels of tertiary education attainment to maintain corporate sustainability.

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“…In search for those proportions, we use the context of an increasing number of women on boards because of board gender quota laws applied in most European Union (EU) countries given women’s persistent underrepresentation in the past. Proportions of women in predominantly male-dominated boards are relevant to group processes and to male–female interactions (Hamdan et al , 2021). Thus, using the theory of proportions in the context of an increased number of women on boards – enforced by the gender board quota law – enables the study of board dynamics and direct research processes rather than those used via proxies, as stressed in the literature (Pye and Pettigrew, 2005).…”

Section: Theoretical Background and Hypothesesmentioning

confidence: 99%

Board dynamics and board tasks empowered by women on boards: evidence from Italy

Słomka‐Gołębiowska

Masi

Paci

2022

MRR

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Purpose This study aims to examine the effects of board dynamics produced by reaching a certain proportion of women on board tasks (monitoring, strategy and advisory). Design/methodology/approach Using a panel of 35 listed companies belonging to FTSE-MIB index, for the years 2008–2015, the hypotheses can be tested by applying random effect regressions. The introduction of gender board quota law in Italy has created a quasi-natural experiment that is applied in the study. Findings This research provides evidence that reaching 33% women on boards, which is the threshold mandated by the Italian gender board quota law, makes a difference for strategy tasks but not for monitoring tasks. This proportion of women on boards creates the board dynamics necessary to empower all board members, allowing the varied knowledge, skills, backgrounds and personal qualities to be leveraged and used in strategy tasks. For monitoring tasks, obtaining a proportion of 20% women on boards, as a first threshold enforced by the law, is enough to voice their opinion during board meetings and challenge management. Originality/value The results show that each set of board tasks requires different dynamics trigged by a specific proportion between a minority (women) and a dominant subgroup (men). To enhance monitoring tasks performance, it is enough to reach a proportion between men and women which makes the women less isolated and more inclined to speak up during the board meetings. In the case of strategy tasks, the improved performance is achieved when the dominant group enticed to hear women’s opinions and responsive to various perspectives. This paper expands the debates going beyond monitoring tasks, showing the importance of board dynamics for engagement in strategy and advisory tasks.

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Women on boards of directors: the moderation role of female labour force participation

Cited by 10 publications

References 67 publications

Does sustainability matter for Fintech firms? Evidence from United States firms

Does sustainability matter for Fintech firms? Evidence from United States firms

Institutional ownership and women representation on boards in three different institutional settings

Board dynamics and board tasks empowered by women on boards: evidence from Italy

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