Board gender diversity and firm performance: evidence from Latin America

被引：27

作者：

Marquez-Cardenas, Valentina ^{[1
]}

David Gonzalez-Ruiz, Juan ^{[1
]}

Duque-Grisales, Eduardo ^{[2
,3
]}

机构：

[1] Univ Nacl Colombia, Fac Ciencias Humanas & Econ, Sede Medellin, Cra 65 59a-110, Medellin, Colombia

[2] Inst Univ Pascual Bravo, Fac Ingn, Medellin, Colombia

[3] Inst Univ Esumer, Fac Estudios Empresariales & Mercadeo, Medellin, Colombia

来源：

JOURNAL OF SUSTAINABLE FINANCE & INVESTMENT | 2022年 / 12卷 / 03期

关键词：

Boards of directors; board gender diversity; board independence; corporate governance; gender equality; firm performance; Latin America; CORPORATE SOCIAL-RESPONSIBILITY; FINANCIAL PERFORMANCE; DIRECTORS; WOMEN; GOVERNANCE; IMPACT; INDEPENDENCE; MANAGEMENT; SUSTAINABILITY; OWNERSHIP;

D O I：

10.1080/20430795.2021.2017256

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

This study aims at analysing the relationship between board gender diversity (BGD) and financial performance for firms with headquarters based in Latin America (LatAm). Using panel data from 243 listed firms during the period 2012-2018, we find that BGD in LatAm does not lead to any change in firm performance, mainly because the underrepresentation of women on boards in the region compared to their male counterparts. As a result, the ability to improve the firms' reputation and the relationships with stakeholders as well as the capability to better monitor performance and bring new ideas by female board members are then unavailable to enhance the firms' performance. The paper also analyses the moderating effect of board independence on the relationship between BGD and firm performance. These study's findings may be used for providing a roadmap that researchers and investorss can use to improve their understanding of BGD.

引用

页码：785 / 808

页数：24

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