Women directors, firm performance, and firm risk : A causal perspective

Yang, Philip; Riepe, Jan; Moser, Katharina; Pull, Kerstin; Terjesen, Siri

Women directors, firm performance, and firm risk : A causal perspective

Dateien

Yang_2-1lmhnp8uhfiq0.pdfGröße: 892.81 KBDownloads: 199

Datum

2019

Autor:innen

Yang, Philip

Riepe, Jan

Moser, Katharina

Pull, Kerstin

Terjesen, Siri

Open Access-Veröffentlichung

Open Access Hybrid

Sammlungen

Politik- und Verwaltungswissenschaft

Publikationstyp

Zeitschriftenartikel

Publikationsstatus

Published

Erschienen in

The Leadership Quarterly. Elsevier. 2019, 30(5), 101297. ISSN 1048-9843. eISSN 1048-9843. Available under: doi: 10.1016/j.leaqua.2019.05.004

Zusammenfassung

Norway was the first of ten countries to legislate gender quotas for boards of publicly traded firms. There is considerable debate and mixed evidence concerning the implications of female board representation. In this paper, we explain the main sources of biases in the existing literature on the effects of women directors on firm performance and review methods to account for these biases. We address the endogeneity problem by using a difference-in-differences approach to study the effects of women directors on firm performance with specific consideration of the common trend assumption, and we explicitly distinguish between accounting-based (i.e., operating income divided by assets, return on assets) and market-based (i.e., market-to-book ratio and Tobin's Q) performance measures in the Norwegian setting. The control group are firms from Finland, Sweden, and Denmark. We further extend the analysis of causal effects of women directors to firm risk. Our results imply a negative effect of mandated female representation on firm performance and on firm risk.

Fachgebiet (DDC)

320 Politik

Schlagwörter

Corporate governance, Boards of directors, Gender quotas

Zitieren

ISO 690

YANG, Philip, Jan RIEPE, Katharina MOSER, Kerstin PULL, Siri TERJESEN, 2019. Women directors, firm performance, and firm risk : A causal perspective. In: The Leadership Quarterly. Elsevier. 2019, 30(5), 101297. ISSN 1048-9843. eISSN 1048-9843. Available under: doi: 10.1016/j.leaqua.2019.05.004

BibTex

@article{Yang2019-10Women-54129,
  year={2019},
  doi={10.1016/j.leaqua.2019.05.004},
  title={Women directors, firm performance, and firm risk : A causal perspective},
  number={5},
  volume={30},
  issn={1048-9843},
  journal={The Leadership Quarterly},
  author={Yang, Philip and Riepe, Jan and Moser, Katharina and Pull, Kerstin and Terjesen, Siri},
  note={Article Number: 101297}
}

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