Journal ArticleDOI
The Effects and the Mechanisms of Board Gender Diversity: Evidence from Financial Manipulation
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This paper examined the impact of board gender diversity on financial misconduct and found that firms with gender-diverse boards commit fewer financial reporting mistakes and engage in less fraud, after accounting for the potentially endogenous nature of board demographic characteristics via instrumental variable approach.Abstract:
This study examines the impact of board gender diversity on financial misconduct. The findings suggest firms with gender-diverse boards commit fewer financial reporting mistakes and engage in less fraud. The findings hold after accounting for the potentially endogenous nature of board demographic characteristics via instrumental variable approach. Furthermore, the findings are consistent in pre- and post-regulation (Sarbanes–Oxley) periods and hold for firms with good and bad governance. The findings do not seem driven by differences in effort or quality, in terms of independence and expertise, of female and male directors. The benefit derived from increasing the number of female directors on corporate boards seems to diminish at higher levels of gender diversity, indicating that impact of gender diversity on decreasing the likelihood of financial misconduct may be a result of a change to board group dynamics.read more
Citations
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Journal ArticleDOI
Women on corporate boards and corporate financial and non-financial performance: A systematic literature review and future research agenda
TL;DR: This paper provided an up-to-date and comprehensive systematic literature review (SLR) of the existing research on women on corporate boards (WOCBs) and corporate financial and non-financial performance.
Journal ArticleDOI
Board diversity and firm performance: The role of business group affiliation
TL;DR: In this paper, the authors examined how business group affiliation influences the relationship between board diversity and firm performance as a contextual/confounding factor, and found that board demographic diversity is positively associated with the firm performance (Tobin's Q) of standalone firms, but this association is negative for group-affiliated firms.
Journal ArticleDOI
The impact of board gender diversity on corporate social responsibility in the Arab Gulf states
Ayman Issa,Hong-Xing Fang +1 more
TL;DR: In this paper, the impact of board gender diversity on the level of corporate social responsibility disclosure in the Arab Gulf states is examined. But, the study is limited to the Arab countries and it focuses on oil-rich countries.
Journal ArticleDOI
Gender Diversity in Senior Management, Strategic Change, and Firm Performance: Examining the Mediating Nature of Strategic Change in High Tech Firms
TL;DR: In this paper, Treasures at UT Dallas is restricted to current UTD affiliates (use the provided Link to Article) due to copyright restrictions due to the nature of the content.
Journal ArticleDOI
Board diversity and stock price crash risk
TL;DR: In this article, board diversity is classified into relation-oriented diversity (gender and age) and task oriented diversity (tenure and education), and the effect of board diversity on stock price crash risk is analyzed.
References
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Management Ownership and Market Valuation: An Empirical Analysis
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Instrumental variables regression with weak instruments
TL;DR: In this paper, the authors developed asymptotic distribution theory for instrumental variable regression when the partial correlation between the instruments and a single included endogenous variable is weak, here modeled as local to zero.
Journal ArticleDOI
Gender Differences in Preferences
Rachel Croson,Uri Gneezy +1 more
TL;DR: This paper reviewed the literature on gender differences in economic experiments and identified robust differences in risk preferences, social (other-regarding) preferences, and competitive preferences, speculating on the source of these differences and their implications.
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Testing for Weak Instruments in Linear IV Regression
James H. Stock,Motohiro Yogo +1 more
TL;DR: This paper proposed quantitative definitions of weak instruments based on the maximum IV estimator bias, or the maximum Wald test size distortion, when there are multiple endogenous regressors, and tabulated critical values that enable using the first-stage F-statistic (or, for instance, the Cragg-Donald (1993) statistic) to test whether give n instruments are weak.