Securities litigation risk and board gender diversity

被引：2

作者：

Joo, Mohammad Hashemi ^{[1
]}

Lawrence, Edward ^{[2
]}

Parhizgari, Ali ^{[3
]}

机构：

[1] North Carolina A&T State Univ, Dept Accounting & Finance, Willie A Deese Coll Business & Econ, Greensboro, NC USA

[2] Adm Florida Int Univ, Dept Finance, Coll Business, RB 239A, Miami, FL 33199 USA

[3] Florida Int Univ, Dept Finance, Coll Business Adm, RB 210, Miami, FL 33199 USA

来源：

JOURNAL OF CORPORATE FINANCE | 2021年 / 71卷

关键词：

US CORPORATE BOARDS; FIRM PERFORMANCE; AGENCY PROBLEMS; DIRECTORS; WOMEN; DETERMINANTS; OWNERSHIP; SIZE;

D O I：

10.1016/j.jcorpfin.2021.102102

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

We investigate the effect of board gender diversity on the risk of securities litigation. We find that this risk is inversely related to the fraction of female independent directors on a firm's board. Additionally, the effectiveness of these directors in reducing securities litigation risk is negatively related to the firm's monitoring costs and positively related to its complexity. We further investigate the channels through which female independent directors may reduce the risk of securities litigation and attribute the reduction to improvements in conditional accounting conservatism and corporate social responsibility policy.

引用

页数：30

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