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The effect of gender-diverse boards on firms financial performance : Evidence from France and the United States

Lintelo, N. te (2020) The effect of gender-diverse boards on firms financial performance : Evidence from France and the United States.

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Abstract:In this study, the relationship between board gender diversity and financial firm performance is examined in the French and U.S. context. Based on a sample of 107 firms listed on the SBF 120 (France) and the S&P 500 (U.S.) for the periods 2010-2011 and 2016-2018, ordinary least squares (OLS) regression analysis is conducted. The results show no evidence that women corporate directors influence the financial performance of French and U.S. firms. Besides, the results show no evidence that executive and independent women directors increase financial firm performance for the French sample. However, the U.S. sample shows some limited evidence that executive women directors have a beneficial effect on Tobin’s Q. Also, the results show no evidence that the implementation of the mandatory gender quota in France had a negative effect as a consequence of the restrictions in the freedom to choose directors. Last, the results indicate that the choice of board structure (one-tier vs two-tier) and the attendance of women board directors do not impact the performance of firms. In conclusion, the presence of women on the board of directors does not influence the financial performance of French and U.S. firms.
Item Type:Essay (Master)
Faculty:BMS: Behavioural, Management and Social Sciences
Programme:Business Administration MSc (60644)
Link to this item:https://purl.utwente.nl/essays/81521
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