Search

ABSTRACT This study revisits the evidence on the role of females in corporate outcomes by investigating the impact of female shareholders and their interactions with female directors on tax avoidance. We build our investigation on gender socialization and homophily theories and on data from an emerging market, Oman, for the period 2012–2019. Our fixed‐effects regressions reveal that female shareholders are associated with lower tax avoidance. We also find that female shareholders and directors on the board interact to significantly reduce tax avoidance practices. In an additional analysis, we find that the effect of female shareholders is more pronounced in firms with low‐quality audit committees and nonreligious CEOs. Interestingly, we also observe that female shareholders improve the quality of financial reports, consequently reducing tax avoidance. The main findings were verified using various robustness tests including alternative measures and research designs. The novelty of this study is that it provides innocent evidence on the role of female shareholders and their interaction with other females in firm tax activities. [ABSTRACT FROM AUTHOR]

Board gender diversity has garnered significant attention in recent years as a component of internal governance. The automobile industry is a conventional sector characterized by its significant scale and the board of directors has historically been predominantly male. The share of female board members increased due to the rapid development of the new energy vehicle industry, which emerged as a combination of high-tech and traditional cars, in the last two decades. This study examines the relationship between the proportion of female directors and the environmental, social, and governance (ESG) performance of companies in the automotive sector. This study collected data on the proportion of female board members and environmental, social, and governance (ESG) ratings for 50 automotive industry businesses across 13 countries from 2002 to 2022. The findings indicate a positive relationship between the proportion of female serving as directors and the environmental, social, and governance (ESG) performance of automotive industry. Furthermore, this study demonstrates that there was no delay in the favorable correlation between the proportion of female directors and the environmental, social, and governance (ESG) performance of companies in the automotive sector. [ABSTRACT FROM AUTHOR]

This study capitalises on the unique setting created by the enactment of a board gender quota in Norway, which led to an unprecedented increase in the number of female directors within a short timeframe. To examine the impact of female board presence on accounting quality, the study employs a difference-in-differences methodology, taking advantage of this quasi-natural experiment context. Given the inherently endogenous nature of the research topic, the interpretation of the relationship between the number of female directors on the board and accounting quality reported in some prior studies as casual relationships poses challenges. In that regard, this study aims to shed light on an unresolved issue with the implementation of a research design that is particularly robust to endogeneity concerns. The empirical analysis produces compelling results, firmly rejecting any significant impact of female directors on accounting quality. The findings hold strong across various checks. [ABSTRACT FROM AUTHOR]

This paper investigates the effect of an overconfident CEO on firm greenhouse gas emissions. Using panel data of 160,115 firm‐year observations from 41 countries for 2000–2021, we find a negative relationship between CEO overconfidence and greenhouse gas emissions. Additionally, drawing on the theories of gender socialisation and diversity, we find that great representation of females on the board further compels overconfident CEOs to reduce firm carbon emissions. Our findings are robust to varying estimation techniques and identification strategies. These findings offer important insights to green investors, corporate boards, managers and policymakers on the role of overconfident CEOs and female leadership in the carbon abatement efforts of public companies. [ABSTRACT FROM AUTHOR]

As global focus persists on gender variety and corporate social responsibility, the participation and influence of women in corporate governance, particularly their effect on the environmental, social, and governance (ESG) performance of corporations, have garnered extensive scrutiny. Given the significant differences between China and the West in terms of institutions and culture, it is highly valuable to explore the unique relationship between gender diversity and ESG performance in the Chinese context, especially in the high-risk and fast-growing technology industry. This study explores the impact of female director background on ESG performance and the moderating effect of risk appetite. The findings suggest that the proportion of female directors has a significant positive impact on the ESG performance of Chinese technology companies. Furthermore, the corporate risk appetite has a positive moderating effect on the relationship between the proportion of female directors and ESG performance. Female directors with higher education levels, financial professional background, and long-term tenure can more effectively promote the company's ESG performance. This study enhances the theoretical framework of corporate governance and ESG studies while also offering innovative guidance for firms to enhance their ESG scores and develop effective risk management strategies. [ABSTRACT FROM AUTHOR]

Abstract Board gender diversity has garnered significant attention in recent years as a component of internal governance. The automobile industry is a conventional sector characterized by its significant scale and the board of directors has historically been predominantly male. The share of female board members increased due to the rapid development of the new energy vehicle industry, which emerged as a combination of high-tech and traditional cars, in the last two decades. This study examines the relationship between the proportion of female directors and the environmental, social, and governance (ESG) performance of companies in the automotive sector. This study collected data on the proportion of female board members and environmental, social, and governance (ESG) ratings for 50 automotive industry businesses across 13 countries from 2002 to 2022. The findings indicate a positive relationship between the proportion of female serving as directors and the environmental, social, and governance (ESG) performance of automotive industry. Furthermore, this study demonstrates that there was no delay in the favorable correlation between the proportion of female directors and the environmental, social, and governance (ESG) performance of companies in the automotive sector.

In this article, we ask if there was a backlash against film feminism in Norway in the 1980s. In Norwegian film history, this decade is known as “the helicopter period” and is associated with a turn towards commercial genre film and classical dramaturgy. This has usually been narrated as a success story for Norwegian cinema. It is, however, also a decade connected to a loss of position for the women directors who had gained a footing in Norwegian cinema in the 1970s. We thus question the idea of progress associated with this decade in film history and propose avenues of investigation. We explore the loss of position of female directors by looking at film reception and film criticism. We further present and discuss a numerical breakdown of women directors and female lead characters in the 1980s and 1990s and point to thematic readings of the on-screen portrayal of women characters in this time span. We find evidence of aggression towards women and a disappearance of women’s film and argue that this points to an anti-feminist pushback in Norwegian cinema of the 1980s and 1990s.

The growing prominence of women directors has increased interest in their role in firms' social performance. However, knowledge of what impact female directors might have on corporate social irresponsibility (CSI) remains virtually non‐existent. This study aims to fill this gap. Using a sample of 107 Spanish listed non‐financial companies from the OSIRIS database (Bureau Van Dijk) for the period 2014–2022, together with alternative regression methods to account for endogeneity (2SLS, propensity scoring matching and generalised method of moments), our results show an inverted U‐shaped relationship between female directors and CSI. This supports arguments that dominant owners might appoint a small number of female directors symbolically to create a 'halo effect' or to enhance their public image and thus reinforce their entrenchment and divert attention away from CSI episodes. However, the appointment of a critical mass of female directors does evidence dominant owner commitment to move away from irresponsible corporate practices, since the presence of a larger number of female directors encourages the firm's ethical behaviour and increases the costs of penalising CSI episodes in the face of the firm's hypocritical behaviour. This study contributes to the emerging literature on CSI by complementing the knowledge gained from studies on ethical behaviour in a concentrated ownership setting. However, the study is not without limitations, especially in terms of the difficulty of measuring CSI episodes since, despite the work of the media, some socially irresponsible practices may remain hidden. [ABSTRACT FROM AUTHOR]

This study explores the intra‐organizational antecedents of sustainable governance by examining the impact of female presence at the corporate apex. Drawing upon the upper echelon theory, we investigate whether women in top positions influence sustainable governance practices. Our research focuses on a sample of companies operating within two distinct market economies: liberal market economies (LMEs) and coordinated market economies (CMEs). The United States, represented by the S&P100, and the United Kingdom, represented by the FTSE100, serve as examples of LMEs. Conversely, Germany (DAX30), France (CAC40), Spain (IBEX35), and Switzerland (SMI) are illustrative of CMEs. Analyzing archival data spanning from 2010 to 2019, we confirm that the presence of a critical mass of women on the board of directors significantly increases the likelihood of establishing a sustainability committee within organizations. This relationship holds true across both LMEs and CMEs, highlighting the universal importance of gender diversity in driving sustainable governance initiatives. Interestingly, we observe that the impact of women with structural power on sustainability committee formation is specific to LMEs, suggesting the context‐dependent nature of female leadership in sustainable governance. [ABSTRACT FROM AUTHOR]

The film industry remains a male-dominated sector, particularly in managerial, creative, and technical positions. In this context, we explore the work of female directors in Spanish cinema concerning ETA terrorism (1977-2023) to observe and assess the contribution of women in a doubly masculine environment: film direction and terrorist violence. Within the framework of the so-called “battle of the narrative” and film and gender studies, and based on a qualitative methodology involving textual analysis of feature films and the study of existing literature, we trace the presence and voice of female directors. We investigate who they are, their number, and their contribution to cinema concerning ETA and Spanish cinema in general. We examine the stories, genres, and themes they choose and the perspectives from which they approach them. We consider both the form and contextual issues related to the production and reception of their works. The results show that female directors are a minority in films about terrorism in Euskadi. We conclude that their work can be seen as a disruption in an adverse environment. They prefer genres such as drama or documentary, focus on a human perspective, several depict real or based-on-true-events stories featuring strong, free female protagonists, and several works approach the stories of victims. They feature characters, predominantly female, who defy stereotypes. Overall, they contribute to the memory of past events with a critical view of violence. [ABSTRACT FROM AUTHOR]

This study examines the promotion of paternity leave by focusing on the role of female directors on boards. Drawing on insights from the literature on the upper echelons theory and strategic leadership, we argue that efforts to break gender stereotypes in upper‐echelon positions, particularly through female representation on boards, can promote paternity leave. Analyzing data from 633 Japanese firms between 2017 and 2021 with pooled regression models revealed that a high proportion of female directors promoted paternity leave. Additionally, it implied that the proportion of female department managers can strengthen the positive effects of female directors on paternity leave promotions. Our results contribute to the theory and practice of gender equality in organizations by providing implications for promoting crucial management practices that may be hindered by gender stereotypes. [ABSTRACT FROM AUTHOR]

We show that female directors are associated with higher equity undervaluation after controlling for the effects of female managers, firm performance, corporate governance, risk, dispersion in analysts' earnings forecasts, firm size, stock price informativeness, and earnings quality. This association is less pronounced after increased societal awareness of female directors. Our findings are robust to the use of alternative measures of key variables and various tests of endogeneity. We further find that female directors' committee membership, committee chair role, board tenure, and board experience are positively associated with equity undervaluation. Additional results show that female directors' age and ethnicity also impact equity undervaluation, and the undervaluation of female directors mostly occurs for firms operating in male‐dominated industries. Our results collectively suggest that investors' negative gender role stereotyping of female directors contributes to equity undervaluation of firms with female directors. Negative stereotyping of female directors is less pronounced after investors become more aware of the benefits of female directors. Therefore, our findings provide insights for policy makers and suggests that further increased awareness of the benefits of female directors is essential. Policy makers may also consider taking appropriate actions to further minimize gender stereotyping of female directors. [ABSTRACT FROM AUTHOR]

In contrast to prior research on female directors’ participation, this study focuses on female directors playing a monitoring role within boardrooms. In addition, the current study investigates whether these female directors freeride from other strong governance mechanisms in place. Based on a sample of US firms, we document that female directors fulfilling monitoring responsibilities play a crucial role in protecting shareholders’ interests in both weak and strong corporate governance settings. In addition, interestingly, our results suggest that female directors, particularly monitoring female directors, significantly mitigate earnings management in firms audited by Big-4 and non-Big-4 auditors although their impact seems to be more prominent within non-Big-4 audit firms. That is, it seems that these directors are more likely to scrutinize managers closely when they feel that shareholders are at risk of being subjected to deception due to opportunistic practices by managers (i.e. when managers deliberately choose relatively low-quality auditors to audit corporate financial reports).

The imperative of gender diversity in corporate governance and the adoption of a human-centric governance paradigm are intensifying globally. The structure of board directors, key influencers to corporate decisions, notably shape policies, crucially in emerging markets like China where gender issues are still evolving. Therefore, employing a penal dataset comprising 8,973 firmyear observations from publicly A-share-listed Chinese firms spanning 2006 to 2021, this study empirically examines the impact of board gender diversity on the responsiveness to both employee monetary incentives and non-monetary rewards. The findings unveil a positive correlation, indicating an augmentation in per-employee compensation and an increased likelihood of implementing non-monetary programs, including stock-ownership plans, retirement benefits, and occupational safety certification, in the presence of higher board gender diversity. Notably, these positive associations are more accentuated in stateowned firms, as well as those with lower executive compensation and diminished institutional ownership. Our results remain consistent after considering robustness as well as endogeneity. This empirical evidence not only contributes robust statistical support to the ongoing global initiatives advocating for gender diversity in corporate governance but also underscores the efficacy of boards of directors in effectively managing stakeholder interests, particularly in fostering employee-friendly practices within emerging markets like China. [ABSTRACT FROM AUTHOR]

This paper examines whether women's attitudes toward environmental innovation are impacted by their individual differences in skills, expertise, experience, and technical knowledge, as well as their visibility and legitimacy on boards. Using the categorization of directors developed by Hillman et al (J Manag Stud 37(2):235–256, 2000) and a dataset including the largest non-financial Spanish-listed entities reported on the IBEX-35 between 2015 and 2019, we can confirm the influence of female business expert and support specialist directors on environmental innovation. We find that although female business expert directors seem to positively influence environmental innovation even below a critical mass, female support specialist directors are only significant and positive drivers of eco-initiation when they gain power and authority on the board. This study confirms the need to examine the connection between women directors and eco-innovation based not only on their expertise and experience but also on their position and legitimacy on the board. In this regard, our results provide evidence that female support specialists need to have a large enough representation on boards to be effective in developing green initiatives. Our results are robust to alternative measures of green innovation (i.e., environmental performance) and overcome endogeneity concerns. [ABSTRACT FROM AUTHOR]

Purpose: Given the relevance of female directors in the governance of any firm, this paper aims to examine their effect on firms' financial performance by investigating their general impact and segregating the same into different subgroups based on Kanter's theory. Design/methodology/approach: To achieve the purpose, this study selects a sample of the top 100 listed Indian firms for the period of 2014–2018 and gathers the data pertaining to the variables under consideration from the respective firms' annual report and corporate database Capitaline Plus. For undertaking the investigation, the authors have segregated the sample into three groups, i.e. firms with boards having less than 10% of female directors are called skewed boards; firms with boards having female directors that range from 10% to 20% are called as tilted board; and firms with boards having sizable representation of female directors of above 20%. To examine the performance impact of overall female directors and their different subgroups, the authors have used a generalized estimating equation model. For the robustness test, the authors have used the fixed-effect model. Findings: The authors find a significant positive impact of the overall percentage of female directors on the financial performance of firms. Additionally, the results indicate that boards with a titled group of female directors and boards with a sizable representation of female directors significantly positively impact firms' performance. However, the authors fail to extricate any significant performance impact of boards with a skewed group of female directors. Practical implications: First, the study reveals that despite prevailing nepotism in India, female directors, owing to their core characteristics, can create a favorable perception of firms in the market. Second, it also works as an eye-opener for regulators by revealing the minimum threshold for female directors that a board should have to exploit the benefits of a gender quota rather than mere compliance with the requirements of the Companies Act, 2013. Third, it implies that more gender-diverse boards can improve a firm's financial performance only if female directors range between the thresholds of 10% to 20%. Finally, the finding is significant for changing the business culture in India, where institutions are traditionally less supportive of women than in other emerging countries. Originality/value: Departing from existing studies, which provide evidence on the performance impact of the overall percentage of female directors, the study unveils the differential impact of female directors on firms' financial performance depending on their level of representation on the board. To the best of the authors' knowledge, this is the first study in the context of an emerging market to test Kanter's theory. [ABSTRACT FROM AUTHOR]

With the growing interest in understanding how environmental, social, and governance (ESG) factors interact and influence one another, as evidenced by increased attention from decision-makers, policymakers, stakeholders, investors, and corporate managers, this research aims to advance the existing literature on the subject (Ahmad et al., 2021; Al-Jaifi et al., 2023). This research aims to address a gap in the literature by examining the influence of board diversity (BD) in terms of board independence (BI) and gender diversity (GD) (i.e., female directors) on corporate ESG performance (ESGP), specifically considering the moderating effect of these two variables on the relationship between corporate profitability (CP) and ESGP. The analysis is based on a dataset encompassing 126 firm-year observations from 30 Saudi non-financial public listed companies spanning the period from 2013 to 2022. The results of the direct models show that CP has an insignificant negative impact, while BD, particularly in terms of independent directors and female directors, enhances ESGP. Moreover, the results from the moderation models indicate that while BI does not show a statistically significant positive impact on the relationship, GD demonstrates an insignificant negative effect on ESGP. [ABSTRACT FROM AUTHOR]

This paper analyzes Chinese female director Teng Congcong's film Send Me to the Clouds to reveal the relationship between female consciousness and ideologies of power in the context of the current Chinese era. We examine the narrative strategies, imagery symbols and power ideologies in the film through Foucault's body theory and feminist film theory. Send Me to the Clouds takes the redemption of life as its narrative strategy and incorporates elements of humor and absurdity. The film changes the initiator of sexual pleasure to the female protagonist, and the male becomes a passive character who is a cheater, a coward which is an attempt to break the "stereotype" of female passivity in the traditional Chinese cultural settings, to create an important role for female consciousness and ideology of power in this life-saving film. However, it is important to critically examine the limitations and subjectivity of the film, especially whether it subverts the traditional mainstream ideology in its artistic expression of "female consciousness". This study provides insights into Chinese feminist film narratives and further discusses the significance and role of Chinese female consciousness in the global feminist film discourse. [ABSTRACT FROM AUTHOR]

Copyright of Asparkía. Investigació Feminista is the property of Instituto Universitario de Estudios Feministas y de Genero Purificacion Escribano and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The gender gap in the boardroom has received a great deal of attention in the literature. However, little is known about what causes the gender gap in the boardroom, especially from board members' perspective. This paper aims to produce a deeper understanding of the gender gap, based on evidence from 29 semi-structured, in-depth interviews with board members. Our study reveals that the best ways to access a board position are through networks and job positions. However, for most participants, being a board member is still perceived as a male-dominated position. Due to this perception, female board members can experience lower self-efficacy at first, questioning their abilities to join the board. Our study reveals several ways to act on the gender gap in the boardroom. Seeing female role models on the board, having a positive experience as board members and receiving effective training can all enhance women's self-efficacy. Also, leaders who are in favor of having women on the board, organizational policies, and mandatory quotas of women on the board can contribute to reducing the gender gap. Our study provides a deeper understanding of the challenges facing women when accessing a top role such as a board position. Our findings can help policy-makers and organizations act on the gender gap in the boardroom. [ABSTRACT FROM AUTHOR]

This study examines the relationship between female directors on boards and default risk in the Chinese real estate industry. While gender diversity is commonly viewed as an effective governance tool in boards to lower the risk of general market firms, we find that there is little influence with female directors in mitigating the default risk in our sample Chinese real estate firms. Nonetheless, once we partition our sample firms into state-owned enterprises (SOEs) and non-state-owned enterprises (non-SOEs), we observe a significant influence of female directors in lowering the default risk of non-SOEs. We further find that the significant relationship between female board representation and default risk in non-SOEs is attributed to non-SOE firms with high financial constraints and a critical mass of female directors. Our results are robust with a matched sample design, an instrumental variable approach, alternative measures of key variables, and inclusion of additional controls. Overall, our findings highlight the particular circumstances in which board gender diversity is effective in mitigating default risk in the unique environment of the Chinese real estate industry. [ABSTRACT FROM AUTHOR]

Purpose: This paper investigates the impact of board gender diversity on the readability of the annual reports of family-controlled public companies. Design/methodology/approach: Grounded in the premises of the restricted and extended views of the socioemotional wealth (SEW) approach and executive power theory, this paper explores the ways in which family-affiliated female directors influence report readability in a sample of 133 publicly traded US companies listed in the Fortune 1,000. We use the system GMM estimator, which deals with two key sources of endogeneity by controlling first for reverse causality, using the lags of the endogenous variables as instruments, and then for omitted variables, capturing the individual effect. Findings: Our analysis confirms that the significant enhancement in annual report readability is associated with the presence of female family directors, particularly those who are insiders within the company. In contrast, non-family female directors and family outsider directors appear to have a negative impact on annual report readability. Originality/value: While scholars have increasingly focused on variations in annual report readability among family firms, the contribution of female directors to this phenomenon has received minimal attention. In our study, we integrate the theories of restricted and extended SEW perspectives with the theory of women's executive power within the board. This integration is essential for considering two critical factors: firstly, the primacy of their SEW objectives, and, secondly, their legitimacy within the board. [ABSTRACT FROM AUTHOR]

This study examines the relationship between women directors and the cost of equity (COE). Investigating the French firm's sample, we find a significant negative effect of women directors on the COE. Our results also document that the effect of women directors on reducing the COE is significant for firms that have a critical mass of at least four women directors. Using the difference‐in‐difference (DID) and propensity score matching (PSM) approach, we find that the relationship between female directors and lower equity costs is significant for the period following the Copé–Zimmermann gender quota law. The results show that women directors' presence on corporate boards is also supported by economic reasons. The study provides implications in relation to the Copé–Zimmermann law in France. [ABSTRACT FROM AUTHOR]

This study investigates whether higher percentages of female directors contribute to firm performance after merger and acquisition activity (M&A). Resource dependence and human capital theories are used to develop the hypothesis that gender‐diverse boards are of particular benefit in an M&A setting that requires complex decision‐making and close monitoring. Using a sample of 56 Singaporean acquirers and 126 Australian acquirers with single M&A events to avoid confounding and a timeframe of 5 years before and after a single M&A between 2005 and 2012, the percentage of female directors is associated with better firm performance in the years after the M&A. Our results remain robust to alternative proxies for female directors. Using data from two countries with comparable mature capital markets and jurisdictional conditions, the results provide evidence to contribute to the debate on gender targets for boards. [ABSTRACT FROM AUTHOR]

The implementation of a board gender quota in Norway in 2006 resulted in an extraordinary increase in the number of female directors over a short period of time. As a result, previous studies have used this unique scenario to examine the effects of appointing female directors on various corporate outcomes, such as the cost of debt. Extending this line of research, this study explores whether the appointment of female directors to the boardroom has a significant impact on a firm's solvency. The empirical analysis draws on a sample of firms from Denmark, Finland, Norway and Sweden and implements difference‐in‐differences estimations. The extant evidence is scarce and inconclusive and, more importantly, has been obtained without controlling for endogeneity. Our findings strongly suggest that the solvency of Norwegian firms did not change significantly after the appointment of a large number of female directors. This result is robust to a battery of sensitivity checks. [ABSTRACT FROM AUTHOR]

Exploring the relationship between corporate social responsibility (CSR) strategy, family business, and board characteristics in Thailand provides invaluable insights into how boards of family businesses integrate CSR considerations, leading to responsible business practices and sustainable development in Thailand. Relying on the top 100 listed firms in the Stock Exchange of Thailand and the Refinitiv's CSR strategy score, we find that family business firms or firms with CEO serving as the chairman of board engage less CSR strategy, being consistent with the agency cost hypothesis and the expropriation view of family businesses. Additionally, in line with the resource dependency theory, female directors, independent directors, board tenure, and board size positively influence a firm's CSR. Additional analyses including the Heckman's sample selection bias and 2SLS instrumental variable approaches show that our results are robust and are not driven by unobserved heterogeneity. More importantly, gender diversity is an exemplary governance mechanism as it is the only board characteristic with a positive effect on CSR in both family and non‐family sub‐samples. While board tenure is positively associated with CSR in the non‐family business sample, larger board size and more board independence in the family business positively influence a firm's CSR. Findings from the family business sample support the functional view of board and socioemotional wealth of family firms. [ABSTRACT FROM AUTHOR]

In the last decade, gender diversity on boards or women in the boardroom has gained the attention of academics and practitioners. This paper aims to explore how women directors affect corporate cash holdings in Indonesia. This study utilizes data on Kompas 100 index firms for 2014–2021. A fixed-effect estimator is used to analyze data. The study reveals that female directors positively influence cash holdings. This finding remains robust when employing an alternative proxy for female directors and excluding observations during the COVID-19 period. Additionally, the findings indicate notable variations in cash holdings between companies with and without female directors. Regarding control variables, a firm’s cash holdings are negatively influenced by board size, leverage, company size, and net working capital. Firm profitability and growth opportunities positively influence cash holdings. This paper also documents that institutional ownership weakens the nexus between female directors and cash holding. The findings highlight that female directors hold higher amounts of cash because of their increased risk aversion. This study enriches the discussion on female directors and cash-holding levels in a developing country with a two-tiered board system. AcknowledgmentsThis study is not funded by any funding agency.

Abstrak - Apakah Kontrol Keluarga dan Direktur Wanita Meningkatkan Nilai Perusahaan? Tujuan Utama - Penelitian ini berupaya untuk menyelidiki mekanisme kontrol keluarga dan direktur perempuan untuk peningkatan nilai perusahaan nilai. Metode – Penelitian ini menggunakan metode regresi berganda. Sampel penelitian adalah perusahaan non-keuangan di Bursa Efek Indonesia periode 2019-2021. Temuan Utama – Penelitian ini mengungkapkan bahwa kinerja keuangan tidak mampu mejadi jembatan mekanisme dalam meningkatkan nilai perusahaan. Hal ini disebabkan pada perusahaan terbuka tidak terdapat kontrol keluarga yang besar. Selain itu, keberadaan perempuan cenderung bias. Implikasi Teori dan Kebijakan – Penelitian ini memperluas pemahaman mengenai teori stewardship dan upper echelon untuk menjelaskan bagaimana kontrol keluarga dan direktur wanita mempengaruhi nilai perusahaan. Selain itu, penelitian ini juga menyarankan regulator dan politisi terkait kesadaran gender dalam perusahaan. Kebaruan Penelitian – Hasil studi ini merupakan upaya awal untuk menetapkan gambaran bagaimana direktur perempuan dan perusahaan keluarga meningkatkan nilai perusahaan. Abstract - Do Family Control and Female Directors Increase Firm Value? Main Purpose - This research investigates the mechanisms of family control and female directors to increase firm value. Method – This research uses the multiple regression method. The research sample is non-financial companies on the Indonesia Stock Exchange for 2019-2021. Main Findings – This research reveals that financial performance cannot be a bridge mechanism in increasing company value. This phenomenon happened because there is no large family control in public companies. Apart from that, the presence of women tends to be biased. Theory and Practical Implications – This research expands the understanding of stewardship and upper-echelon theory to explain how family control and female directors affect firm value. Apart from that, this research also advises regulators and politicians regarding gender awareness in companies. Novelty – The results of this study are an initial attempt to paint a picture of how female directors and family firms increase firm value.

Social enterprises combine social and financial goals. Previous studies have theorized the existence of a dual objective and maintain that it can lead to conflicts and create trade-offs. While the literature on trade-offs is extensively developed, empirical evidence is lacking on how the intensity of trade-offs might vary among organizations. We fill the void by investigating the moderating effect of female directorship on the relationship between the social and financial goals of social enterprises. Using data on 1193 microfinance organizations (MFOs) from 108 countries between 2007 and 2019, we find that a high proportion of women in the boardroom attenuates social-financial trade-offs. Further, our results show that the mitigating effect of female directorship on social-financial trade-offs is more pronounced in nonprofit MFOs, in unsubsidized MFOs, in the period since the recent microcredit crisis, and in countries where women are more empowered in terms of access to higher education, leadership positions, and employment opportunities. We attribute our findings to the distinctive skills, competences, and experiences of women, including an ethical social orientation, as well as their transformational and relational leadership style. The findings are supported by predictions based on resource dependence and leadership style theories. [ABSTRACT FROM AUTHOR]

This article places a critical lens over one part of an empirical study to explore the political reasons for why (or why not) women on boards policies are effective (or not) in Aotearoa New Zealand. Political intersectionality is used as a heuristic tool to link the political agendas of macro level public policies to meso‐level organizational processes and how these (re)shape the micro‐level everyday politics of structural privilege and disadvantage. Interview data from 10 influential male directors show how the political agendas of powerful interest groups can shape the dialog and further embed the status quo by promoting a business case for gender diversity based on the inherent assumption that it incentivizes businesses to function as meritocracies. We argue that power and conflicting political interests must be addressed if diversity‐related interventions are to achieve the desired gender equity and social justice outcomes in a board membership. [ABSTRACT FROM AUTHOR]

Copyright of Contaduría y Administración is the property of Facultad de Contaduria y Administracion-Universidad Nacional Autonoma de Mexico and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

This paper investigates the relationship between female CEOs and insolvency risk of US property‐casualty insurance companies. We show that female CEOs are associated with lower insurer insolvency propensity, higher z‐score, and lower standard deviation of return on assets. These findings are robust to alternative econometric specifications to address potential endogeneity concerns and self‐selection issues, including propensity score matching, the instrumental variable approach, and the difference‐in‐difference approach. Furthermore, we find that the impact of female CEOs on insurer insolvency risk is moderated by firm capitalization, the presence of female directors, and political conservatism of insurers' home states. [ABSTRACT FROM AUTHOR]