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Female Board Representation and Capital Markets : International Evidence

Title data

Loy, Thomas ; Rupertus, Hendrik:
Female Board Representation and Capital Markets : International Evidence.
2016
Event: 78. Jahrestagung des Verbandes der Hochschullehrer für Betriebswirtschaft , 18.-20.05.2016 , München.
(Conference item: Conference , Paper )

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Abstract in another language

There are considerable cross-country discrepancies in female board representation. We examine institutional factors associated with female board participation. Moreover, we analyze whether it has effects on investors’ perception of the firm. Board appointments are endogenous choices. We explicitly address endogeneity by employing an Instrumental Variable approach on the country-level and Propensity Score Matching on the firm-level. Our results indicate that a societal climate of gender equality contributes to increased female board participation, and that boards without women do not result in worse (or better) stock performance. Hence, the gender gap is an ethical issue and should be closed because of basic fairness.

Further data

Item Type: Conference item (Paper)
Refereed: Yes
Institutions of the University: Faculties > Faculty of Law, Business and Economics > Department of Business Administration > Junior Professorship Auditing > Junior Professorship Auditing - Juniorprof. Dr. Thomas Loy
Profile Fields > Emerging Fields > Governance and Responsibility
Research Institutions > Research Units > Forschungsstelle für Unternehmens- und Kapitalmarktrecht sowie Unternehmenssteuerrecht - Companies, Capital Markets and Taxes - CoCapT
Faculties
Faculties > Faculty of Law, Business and Economics
Faculties > Faculty of Law, Business and Economics > Department of Business Administration
Faculties > Faculty of Law, Business and Economics > Department of Business Administration > Junior Professorship Auditing
Profile Fields
Profile Fields > Emerging Fields
Research Institutions
Research Institutions > Research Units
Result of work at the UBT: Yes
DDC Subjects: 300 Social sciences > 330 Economics
Date Deposited: 23 Aug 2016 08:16
Last Modified: 23 Aug 2016 08:16
URI: https://eref.uni-bayreuth.de/id/eprint/34247