Attributes of Women Directors and Corporate Governance

A special issue of Journal of Risk and Financial Management (ISSN 1911-8074). This special issue belongs to the section "Business and Entrepreneurship".

Deadline for manuscript submissions: closed (28 February 2023) | Viewed by 6928

Special Issue Editor


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Guest Editor
Department of Accountancy and Finance, School of Business, University of Otago, Dunedin 9054, New Zealand
Interests: corporate governance in emerging countries; corporate social responsibility reporting; capital market disclosure

Special Issue Information

Dear Colleagues,

Over the past two decades, policymakers worldwide have adopted numerous initiatives to promote corporate gender equity. This has inspired extensive research in accounting and finance, particularly regarding women’s role in corporate boards.

Despite the increasing number of studies discussing how board gender diversity affects firm-level outcomes, most studies only consider the presence or absence of women directors and the proportion of female directors on corporate boards. Most recently, the focus has shifted to attributes of women directors, such as their independence, committee membership, leadership, tenure, age, nationality/ethnicity, business education, other board membership, social connection, reputation, etc. (Platt and Platt 2012, Nekhili and Gatfaoui 2013, Bennouri et al. 2018, Gull et al. 2018). These studies provide valuable insights into the effect of different attributes of women directors. However, more work is needed to examine whether women board members’ attributes affect firm-level outcomes in different institutional settings, such as family dominance, relatively weaker country-level investor protection, mandatory gender quota, and COVID-19.

This Special Issue aims to provide new insights into women board members’ attributes at different firm-level outcomes. Potential topics include (but are not limited to):

  • Corporate board effectiveness;
  • Firm performance;
  • Earnings management;
  • Social and environmental performance/disclosure;
  • Climate risk;
  • Corporate risk;
  • Gender pay gap;
  • Management and non-management-level gender diversity;
  • COVID-19;
  • Sustainable supply chain.

Original research that complements our understanding of new ideas, innovation, and practices to promote board gender diversity and contribution through rich data analysis is encouraged.

References

Bennouri, Moez, Tawhid Chtioui, Haithem Nagati, and Mehdi Nekhili. 2018. Female board directorship and firm performance: What really matters? Journal of Banking & Finance 88: 267–291.

Gull, Ammar Ali, Mehdi Nekhili, Haithem Nagati, and Tawhid Chtioui. 2018. Beyond gender diversity: How specific attributes of female directors affect earnings management. The British Accounting Review 50: 255–274.

Nekhili, Mehdi, and Hayette Gatfaoui. 2013. Are demographic attributes and firm characteristics drivers of gender diversity? Investigating women’s positions on French boards of directors. Journal Of Business Ethics 118: 227–249.

Platt, Harlan, and Marjorie Platt. 2012. Corporate board attributes and bankruptcy. Journal of Business Research 65: 1139–1143.

Dr. Pallab Kumar Biswas
Guest Editor

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Published Papers (3 papers)

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Research

26 pages, 934 KiB  
Article
Gender Diversity and Human Capital Efficiency in Australian Institutions: The Moderating Role of Workforce Environment Quality
by Seema Miglani and Victoria Obeng
J. Risk Financial Manag. 2023, 16(7), 343; https://doi.org/10.3390/jrfm16070343 - 22 Jul 2023
Viewed by 1431
Abstract
We examine the relationship between board gender diversity and human capital efficiency and further consider the moderating role of workforce environment quality from the perspectives of profit-making and loss-making firms. Using a sample of 2700 firm-year observations from listed Australian firms for the [...] Read more.
We examine the relationship between board gender diversity and human capital efficiency and further consider the moderating role of workforce environment quality from the perspectives of profit-making and loss-making firms. Using a sample of 2700 firm-year observations from listed Australian firms for the period 2008–2019, we found a positive relationship between the presence of females on boards and human capital efficiency which was more pronounced for loss-making firms as against profit-making firms. Additionally, the relationship between gender diversity and human capital efficiency was moderated by the quality of workforce environment with the moderating effect being more pronounced for loss-making firms as compared to profit-making firms. Board gender diversity plays a substitutive role in the management of human capital efficiency for loss-making firms where investment in human capital development is limited. Full article
(This article belongs to the Special Issue Attributes of Women Directors and Corporate Governance)
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13 pages, 429 KiB  
Article
Investigating the Quality of Gender Equality Non-Financial Information Disclosed in the Cooperative Credit Sector: A Case Study
by Olga Ferraro and Elena Cristiano
J. Risk Financial Manag. 2022, 15(12), 595; https://doi.org/10.3390/jrfm15120595 - 12 Dec 2022
Cited by 3 | Viewed by 1818
Abstract
Credit institutions, according to the 2014/95/EU Directive (implemented in Italy with Legislative Decree No. 254/2016) are obliged to report non-financial and diversity information. Our article focuses on the diversity information to investigate whether the obligation to disclose diversity information within the mandatory non-financial [...] Read more.
Credit institutions, according to the 2014/95/EU Directive (implemented in Italy with Legislative Decree No. 254/2016) are obliged to report non-financial and diversity information. Our article focuses on the diversity information to investigate whether the obligation to disclose diversity information within the mandatory non-financial statement (NFS) led to an improvement of the quality of the gender equality information. To address this aim we analyzed five consolidated mandatory NFSs (CNFSs) for the Iccrea Cooperative Banking Group (ICBG) covering the 2017–2021 period. We selected ICBG because of the dearth of studies on the cooperative banking sector, which represent a relevant component of the national banking system in Italy. To the best of our knowledge, this paper is the first study to explore the quality of information on gender equality in mandatory NFSs for a cooperative banking group using a longitudinal approach. The analysis of the case study’s findings provides evidence that ICBG worked to align its gender information with the Decree requirements and the GRI standards. The longitudinal analysis highlights that, during the five years under study, the ICBG’s information on gender came to fully reflect the EU and Italian requirements. Full article
(This article belongs to the Special Issue Attributes of Women Directors and Corporate Governance)
24 pages, 396 KiB  
Article
Financial Fraud, Independent Female Directors and CEO Power
by Nafisah Yami and Jannine Poletti-Hughes
J. Risk Financial Manag. 2022, 15(12), 575; https://doi.org/10.3390/jrfm15120575 - 2 Dec 2022
Cited by 3 | Viewed by 3081
Abstract
This paper investigates the effect of female directors on financial fraud, focusing on the role of independent female directors and their demographics, such as experience, financial expertise, and audit committee membership. We find that independent female directors have a negative and significant influence [...] Read more.
This paper investigates the effect of female directors on financial fraud, focusing on the role of independent female directors and their demographics, such as experience, financial expertise, and audit committee membership. We find that independent female directors have a negative and significant influence on financial fraud, which is enhanced by their experience and financial expertise. The positive effect is also significant for those female directors that are members of the audit committee and have financial expertise. Independent female directors offset the increased likelihood of fraud in the presence of powerful CEOs, suggesting that the impact of their contribution is more valuable when there is managerial entrenchment. Full article
(This article belongs to the Special Issue Attributes of Women Directors and Corporate Governance)
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