Board gender diversity, firm performance and corporate financial distress risk
International Evidence From Tourism Industry
Bibliographic Data
| ID | 6058699 |
|---|---|
| Authors | Kin Wai Lee (0000-0003-4092-3865, Nanyang Technological University), Tiong Yang Thong (0000-0003-0755-8894, James Cook University Singapore) |
| Year | 2023 |
| Volume | 42 |
| Issue | 4 |
| Pages | 530-550 |
| Publication date | 2023-05-04 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | Equal Opportunities International (JOURNAL) |
| Journal identifiers | ISSN: 1758-7093 • E-ISSN: 2040-7149 |
| Publisher | Emerald (PUBLISHER) |
| DOI | 10.1108/edi-11-2021-0283 |
| OpenAlex | W4283751837 |
| Language | EN |
| Citations received | 6 |
| References cited | 44 |
Purpose This paper examines contextual factors that affect the association between board gender diversity and firm performance. Design/methodology/approach The authors use a global sample of listed firms in the tourism industry in 30 countries from 2015 to 2020. Findings First, firm performance is positively associated with the proportion of female directors on a board. Second, the positive association between firm performance and the proportion of female directors on the board is higher in (1) countries with stronger shareholder rights, (2) countries with stronger securities law regulation stipulating disclosure of board diversity, (3) countries with stronger economic empowerment of women, and (4) during the COVID-19 crisis. Third, corporate financial distress risk is lower in firms with higher proportion of female directors on the board. Fourth, the negative association between corporate financial distress risk and the proportion of female directors on the board is more pronounced in (1) countries with stronger securities law regulations stipulating disclosure of board gender diversity, (2) countries with stronger economic empowerment of women, and (3) during the COVID-19 crisis. Originality/value The results indicate that contextual factors (comprising country-level corporate governance structures, economic empowerment of women and economic crisis) can affect the association between board gender diversity and firm performance
Business · Corporate governance · Demographic economics · Economic growth · Economics · Emerging markets · Empowerment · Financial crisis · Gender diversity · Political science · Shareholder · Tourism · Corporate Finance and Governance · Corporate Social Responsibility Reporting · Gender Diversity and Inequality · Law · Accounting · Finance
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| Unique citing works | 6 |
|---|---|
| Citations per year | 2 |
| Citation span | 2023 - 2026 (4) |
| Citation velocity | current |
| Highly cited | No |
| Citation types | Neutral: 6 |