CFO gender, gender quotas and accounting conservatism
These days, more countries install policies to create more gender equality in boardrooms. The impact of these new regulations lack scientific research and there is no common opinion on the effects of gender on corporate decision making. With a sample of listed European firms from countries that have and have not installed binding gender quotas, this thesis explores the effect of both CFO gender and binding gender quotas on accounting conservatism. Using the Ball and Shivakumar Asymmetric Accrual to Cash-flow Measure, the study finds a significant result that with a female CFO, a company uses more accounting conservatism. The same result is found when a company is subject to a binding gender quota. Inconsistent results are found when the marginal impact of a female CFO in a company that is not subject to a binding gender quota is researched, therefore this subject needs further research. This study adds to the literature of gender, gender quotas and accounting conservatism by concluding that both CFO gender and binding gender quotas have an effect on the use of accounting conservatism.
Faculteit der Managementwetenschappen