Gender diversity in the board of directors. Gender diversity, ownership, and firm performance in China
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2019-09-06
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en
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This study examines the relationship between board gender diversity and firm performance, and the moderating influence of private ownership on this relation. Previous research on board gender diversity and firm performance is increasing, but shows contradicting evidence. This paper provides new insights on board gender diversity and firm performance, by adding empirical evidence of a developing economy to the existing literature. This study uses a panel data set on all Chinese listed firms covering a period from 2008 to 2017. A fixed effects regression, in which is controlled for non-varying firm-specific factors, is employed to test the relationship. Moreover there is tested for reverse causality. The percent of women in the board of directors are found to have no effect on firm performance when it is measured by Tobin’s Q, but are found to have a significant negative effect on firm performance when measured by return on assets. Moreover, private ownership is found to have no moderating effect on Tobin’s Q, but a positive moderating effect on return on assets.
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Faculteit der Managementwetenschappen