Izvorni znanstveni članak
https://doi.org/10.1080/1331677X.2021.1952086
Female presence in corporate governance, firm performance, and the moderating role of family ownership
Ali Amin
Rizwan Ali
Ramiz ur Rehman
Muhammad Akram Naseem
Muhammad Ishfaq Ahmad
Sažetak
Assessing the role of diversity in corporate governance has
attracted growing interest. In addition, significant relationships
are expected between diversity dimensions and firm performance.
This research aims to analyze the relationships between female
presence in corporate board-firm financial performance and the
extent to which such influence is moderated by family ownership.
The study’s sample, based on the listed firms on the Pakistan
Stock Exchange (PSX), represents the nonfinancial sector from
2008 to 2019 with 2087 firm-year observations. Fixed-effect
regression analysis was applied to examine the proposed hypothesis. The study’s findings indicate that the presence of women in
corporate governance is positively associated with firm financial
performance. Simultaneously, the mentioned relationship is less
pronounced when family ownership is a moderator. The empirical
findings of the study support the argument that the presence of
women in corporate boards is positively associated with financial
performance and supports the reforms made by codes of corporate governance (CCG) that make the presence of female directors’
mandatory on the corporate boards. Additionally, the study findings partially confirm that a higher proportion of women on the
board increases firm performance. This study offers insights for
policymakers to implement legislation for a diverse gender placement in the board of directors and exploit the potential benefits
of the gender-balanced board, which generally improves firm
performance.
Ključne riječi
Corporate governance; board diversity; firm performance; family ownership
Hrčak ID:
302028
URI
Datum izdavanja:
31.3.2023.
Posjeta: 1.938 *