Women directors, educational background and firm value of Spanish listed companies
Bibliographic Data
| ID | 12920993 |
|---|---|
| Authors | Patricia Molinero-Díez (Universidad de Burgos, corresponding author), Virginia Blanco Mazagatos (0000-0002-1201-0922, Universidad de Burgos), Íñigo García-Rodriguez (0000-0003-2662-8018, Universidad de Burgos), M Elena Romero‐Merino (0000-0003-0920-4950, Universidad de Burgos) |
| Year | 2022 |
| Volume | 37 |
| Issue | 7 |
| Pages | 816-835 |
| Publication date | 2022-06-10 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | Gender in Management An International Journal (JOURNAL) |
| Journal identifiers | ISSN: 1754-2413 • E-ISSN: 1754-2421 |
| Publisher | Emerald Publishing Limited (PUBLISHER • GB) |
| DOI | 10.1108/gm-07-2020-0221 |
| OpenAlex | W4281874730 |
| Language | EN |
| Citations received | 2 |
| References cited | 50 |
Purpose This study aims to evaluate changes in the presence of women on Spanish boards after the Unified Good Governance Code of Listed Companies (2006) and the Organic Law 3/2007 on Gender Equality, and this study compares the educational background of women and men directors. Also, this study analyses the influence of gender diversity and educational background of women directors on economic performance, corporate social responsibility (CSR) and, ultimately, firm value. In addition, this study explores the differences in board gender composition and its effect on firm value during the crisis and post-crisis periods. Finally, this study analyses the different influence of women directors depending on their typology. Design/methodology/approach This study uses a system of structural equations and a sample of 4,101 directors of 30 Spanish companies listed on IBEX-35 over 2008–2017. Findings The results show that women’s presence on boards has grown since 2008, and they have higher educational background than men. This study finds that women directors improve economic performance and CSR, though results are non-significant for firm value. Women directors with a bachelor’s or master’s degree increase economic and social performance but reduce firm value. Women directors with business or industry-related studies positively influence CSR but business specialisation negatively affects economic performance and firm value. Originality/value This study analyses the direct and indirect effect of women directors on firm value, the influence of their educational background and the potential differences arising from the economic situation (crisis) and the type of board position they hold
Bachelor · Business · Corporate governance · Corporate social responsibility · Demographic economics · Diversity (politics · Economics · Enterprise value · Gender diversity · Originality · Political science · Public relations · Qualitative research · Social science · Sociology · Typology · Value (mathematics · Corporate Finance and Governance · Family Business Performance and Succession · Gender Diversity and Inequality · Accounting · Finance
Women in the boardroom and their impact on governance and performance☆
Women and Racial Minorities in the Boardroom
Three-Stage Least Squares
Does female board representation influence firm performance? The Danish evidence
Corporate Social Performance Revisited
Does board gender diversity improve the informativeness of stock prices?
Corporate Governance, Board Diversity, and Firm Value
Gender Diversity in the Boardroom and Firm Financial Performance
The Relationship between Women Directors and Corporate Social Responsibility
The Ultimate Glass Ceiling Revisited
Boardroom Diversity and its Effect on Social Performance
Women on corporate boards and corporate financial and non-financial performance
The Impact of Board Diversity and Gender Composition on Corporate Social Responsibility and Firm Reputation
The Effects of Women on Corporate Boards on Firm Value, Financial Performance, and Ethical and Social Compliance
Women on board
French supervisory board gender composition and quota threat
| Unique citing works | 2 |
|---|---|
| Citations per year | 2 |
| Citation span | 2025 - 2026 (2) |
| Citation velocity | current |
| Highly cited | No |
| Citation types | Neutral: 2 |