Determinants of Iberian companies’ performance: corporate boards and the nonlinearity of gender diversity
Gender in Management
; 37(7):912-932, 2022.
Article
in English
| ProQuest Central | ID: covidwho-1992485
ABSTRACT
Purpose>This paper aims to analyze the performance determinants of listed companies in the Iberian Peninsula, focusing on the analysis of the effect of gender diversity and the structure of the board of directors.Design/methodology/approach>To achieve this aim, the authors analyzed 97 listed companies, of which 23 are Portuguese and 74 are Spanish, between 2015 and 2019. The authors use Arellano and Bond’s (1991) generalized method of moments system model to test the hypotheses.Findings>The results show an important impact of corporate governance variables on corporate performance. Specifically, board size, average director age and board academic qualifications are crucial to explaining profitability and market value. Moreover, the authors identified a nonlinear relationship between gender diversity and profitability and market value levels due to critical mass theory and quotas that enhance more social justice. The authors concluded that the corporate performance determinants differ depending on the performance measures.Originality/value>To the best of the authors’ knowledge, this study is the first to analyze the nonlinear effect of gender diversity and board structure (size, educational qualifications and average director age) on the performance of Iberian listed companies as a single market.
Business And Economics; Performance; Board structure; Gender diversity; Portugal; Spain; GMM system; Return on assets; Management decisions; Qualifications; Macroeconomics; Investigations; Dependency theory; Sovereign debt; Age; Hypotheses; Stockholders; Gender; Decision making; Corporate governance; Gross Domestic Product--GDP; Literature reviews; Boards of directors; COVID-19
Full text:
Available
Collection:
Databases of international organizations
Database:
ProQuest Central
Language:
English
Journal:
Gender in Management
Year:
2022
Document Type:
Article
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