Female Directors Board Committees And Firm Performance
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Female Directors Board Committees And Firm Performance
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Author : Colin P. Green
language : en
Publisher:
Release Date : 2017
Female Directors Board Committees And Firm Performance written by Colin P. Green and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017 with categories.
A number of studies have found little economic impact of board gender diversity on firm performance. We return to this issue in the context of large European firms. Our contribution is twofold. First, using information on the gender of CEOs children as a source of exogenous variation in female director appointments, we demonstrate robust positive association of female board representation on firm performance. Second, while previous work has considered female representation broadly, we focus on membership of board committees as a proxy for active involvement in corporate governance. We demonstrate economically meaningful positive effect on performance of female representation on board committees. Our evidence is supportive of the economic rationale for increased female representation on corporate boards.
Lean In
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Author : Jooyoung Kim
language : en
Publisher:
Release Date : 2022
Lean In written by Jooyoung Kim and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022 with Electronic dissertations categories.
With the heightened societal demand for promoting egalitarian values in corporate boards, firms have devoted much effort to improving female board representation. However, recent insights have suggested that some progress made thus far may be the result of firms' symbolic conformity to external pressure, which alludes to the possibility that female directors' low influence and lack of integration on boards may still persist. In this dissertation, I aim to develop and test theoretical arguments of what determines and follows female directors' attainment of power and influence, as reflected in their assignment to major committee member or chair positions. First, I propose that female directors are at a relative disadvantage in attaining major committee positions. Specifically, although directors in general can benefit from expertise cues to be assigned to committee positions, the benefits are less for females than males. This gap can be attenuated when females are similar to board members in terms of other demographic dimensions and when the board is demographically heterogeneous. Second, I develop predictions about how female representation on board committee positions can contribute to gender diversity on boards and firm performance. I propose that greater female representation on board committees has negative relationship with a female director's likelihood of exit, and has positive relationship with female additions to the board and firm performance. Results were drawn from a sample of S&P 1,500 companies during 2009 to 2019.
Women On Corporate Boards Of Directors
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Author : Ronald J. Burke
language : en
Publisher: Springer Science & Business Media
Release Date : 2013-03-09
Women On Corporate Boards Of Directors written by Ronald J. Burke and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-03-09 with Philosophy categories.
Both the practitioner and academic communities have voiced strong opinions regarding the progress of women in reaching the executive suite and the corporate boardroom. Proponents on each side of the current debate offer evidence suggesting the accuracy of their respective positions. One view holds: "The fight is over. The battle is won. Women are now accepted as outside directors in the preponderance of corporate boardrooms" (Lear, 1994: 10). An alternative perspective, however, suggests there is much progress left. An illustration of the type of remaining barriers is provided by T. J. Rodgers, chief executive officer (CEO) of Cypress Semiconductor Corp. , who has commented that "a 'woman's view' on how to run our semiconductor company does not help us" (Rodgers, 1996: 14). Regardless of where one falls along the spectrum anchored at one end by the view that women have made substantial progress in reaching the upper echelons of corporations and anchored at the other end by the view that women have barely begun to penetrate the "inner sanctum" of corporations, the central issue is the extent to which women have succeeded in cracking the proverbial "glass ceiling. " The glass ceiling is a metaphorical barrier which prevents women from attaining the upper-most organizational positions (e. g. , Karr, 1991; Morrison, White, Van Velsor, and the Center for Creative Leadership, 1992; Powell & Butterfield, 1994; U. S. Department of Labor, 1991).
Female Directors Key Committees And Firm Performance
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Author : Colin Green
language : en
Publisher:
Release Date : 2015
Female Directors Key Committees And Firm Performance written by Colin Green and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015 with categories.
Women On Corporate Boards
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Author : Maria Aluchna
language : en
Publisher: Routledge
Release Date : 2018-04-17
Women On Corporate Boards written by Maria Aluchna and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-04-17 with Business & Economics categories.
Female presence and involvement on boards improves firm performance, transforms corporate governance and leads to the transition towards more responsible business. Corporate boards are essential bodies for governance and management and their efficiency determines a company’s performance. The board is a crucial element of the corporate governance structure and its efficiency and performance determines the success of the operation and monitoring of the company. The board is viewed as the liaison between providers of capital (shareholders) and managers who use this capital to create value. The board role is to represent, formulate and fulfill the interests and expectations of shareholders as the owners of the companies. The discussion surrounding female participation in business inevitably needs to refer to their presence on corporate boards. It is also a reliable indicator of a gender equality policy and advancement, adopted by countries and companies. The book traces the logic behind the decision patterns of female involvement in governance and management. In particular, it identifies the patterns of women’s presence on corporate boards, with respect to theoretical and conceptual argumentation, policy and regulatory implication, as well as practical adaptation. The phenomenon of women on corporate boards is analyzed in the context of different political, cultural and institutional environments addressing challenges in both developed and emerging economies. The role of female directors is viewed as one of the crucial aspects in corporate governance, adding to the quality of control and management.
Gender Diversity In Senior Positions And Firm Performance
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Author : Lone Engbo Christiansen
language : en
Publisher: International Monetary Fund
Release Date : 2016-03-07
Gender Diversity In Senior Positions And Firm Performance written by Lone Engbo Christiansen and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-03-07 with Social Science categories.
This paper examines the link between gender diversity in senior corporate positions and financial performance of 2 million companies in Europe. We document a positive association between corporate return on assets and the share of women in senior positions and establish two potential channels through which gender diversity may affect firm performance. The positive correlation is more pronounced in, first, sectors where women form a larger share of the labor force (such as the services sector) and, second, where complementarities in skills and critical thinking are in high demand (such as high-tech and knowledge-intensive sectors).
Women In The Boardroom And Their Impact On Governance And Performance
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Author : Renee B. Adams
language : en
Publisher:
Release Date : 2018
Women In The Boardroom And Their Impact On Governance And Performance written by Renee B. Adams and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018 with categories.
We show that female directors have a significant impact on board inputs and firm outcomes. In a sample of US firms, we find that female directors have better attendance records than male directors, male directors have fewer attendance problems the more gender-diverse the board is, and women are more likely to join monitoring committees. These results suggest that gender-diverse boards allocate more effort to monitoring. Accordingly, we find that CEO turnover is more sensitive to stock performance and directors receive more equity-based compensation in firms with more gender-diverse boards. However, the average effect of gender diversity on firm performance is negative. This negative effect is driven by companies with fewer takeover defenses. Our results suggest that mandating gender quotas for directors can reduce firm value for well-governed firms.
Female Board Leadership Firm Performance And Corporate Governance
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Author : Fuxiu Jiang
language : en
Publisher:
Release Date : 2019
Female Board Leadership Firm Performance And Corporate Governance written by Fuxiu Jiang and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019 with categories.
Using a large sample of Chinese firms, we examine performance differences between firms with female and male chairs and the channels through which such differences arise. After controlling for the presence of female CEOs and non-chair female directors, we find that chairwoman firms perform better than chairman firms. Boards led by chairwomen also play not only a more effective supervisory role (as evidenced by a higher likelihood of director dissension, a lower likelihood of committing accounting fraud, and higher forced CEO turnover- and pay-performance sensitivity) but also a more active managerial role (as evidenced by more value-enhancing risky investment, more innovation activities, and more effective responses to industry-wide shocks). Moreover, the presence of women on boards as chairs is associated with better attendance behavior among independent directors. These results, which are robust to controlling for the self-selection biases and board gender diversity documented in prior literature, suggest that chairwomen play a more effective leadership role than chairmen in board decision making.
The Diversity Of Corporate Board Committees And Firm Financial Performance
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Author : David Carter
language : en
Publisher:
Release Date : 2007
The Diversity Of Corporate Board Committees And Firm Financial Performance written by David Carter and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007 with categories.
We examine the relationship between the gender and ethnic minority diversity of the board of directors and the financial performance of the firm, i.e. the economic case for a diverse board of directors. The research is unique because we analyze both the diversity of the board and the diversity of important board committees to gain greater insight into the way diversity affects board functions and, ultimately, shareholder value. Our sample consists of all firms listed on the Fortune 500 over the period 1998-2002 yielding a panel of data with approximately 2,000 firm years. Our data also indicate that the direction of causation goes from board diversity to firm financial performance which supports the economic case for board diversity. When we consider the percentage of women and ethnic minority directors on the board, the diversity of board composition appears to create value for shareholders. The results of a cross-section fixed-effects procedure with lagged variables and a three-stage least-squares estimation support board diversity has a positive effect on financial performance as measured by Tobin's q. However, the board committee evidence also indicates that the process through which gender and ethnic diversity impacts financial performance is subtle and complex. Some functions of the board may benefit from diverse directors while other functions may actually suffer. Furthermore, the type of diversity appears to matter. We conclude a more nuanced view of the economic case for board diversity is most appropriate.
Board Monitoring And Firm Performance
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Author : Asmaa Aly Hanafy
language : en
Publisher:
Release Date : 2020
Board Monitoring And Firm Performance written by Asmaa Aly Hanafy and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020 with Performance categories.
Abstract: There are several research papers regarding the relationship between corporate governance and firm performance. One of the aspects of corporate governance is the board of directors. Board monitoring is a critical aspect which can be measured by number of board meetings and number of board committees. There are several studies on board diversity and composition of board of directors and firm performance, while there are few research studies on the number of board committees and board meetings and their relationship with the firm performance. Accordingly, this thesis focuses on the relationship between board monitoring measured by number of board meetings and number of board committees and firm performance in the UK. The sample is Financial Times and London Stock Exchange (FTSE) 150 which includes the largest 150 listed companies on London Stock Exchange. Firm performance is measured by an accounting measure which is return on assets (ROA) and a market performance measure which is Tobin’s Q. The results of this study show that there is no significant relationship between number of board meetings and firm performance. However, there is a significant negative relationship between number of board committees and firm performance. Keywords: board committees, board meetings, corporate governance, firm performance, FTSE150, UK.