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Tytuł artykułu

Delineating the influence of boardroom gender diversity on corporate social responsibility, financial performance, and reputation

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Warianty tytułu
PL
Wpływ zróżnicowania płci członków zarządu na odpowiedzialność społeczną, wyniki finansowe i reputację firmy
Języki publikacji
EN
Abstrakty
EN
Background: The current study reveals the effectiveness of gender diversity in the boardroom and considers its impact on a firm’s corporate social responsibility, financial performance and reputation, which leads towards business sustainability.The study is based on stakeholder theory assumptions which state that female directors play a vital role in board diversification. Methodology: 100 index firms listed on the Pakistan Stock Exchange were chosen as a sample size. The firm’s financial performance was measured by using three proxies in order to get robust results. Panel data of 6 years from 2010 to 2015 was applied for data analysis. The data was analyzed by applying the Fixed-Random OLS regression, which revealed that gender diversity in the boardroom has no significant relationship with corporate social responsibility (CSR), financial performance, and the reputation of a firm. Results: Study results revealed that HODI mitigates corporate social responsibility activity. According to the Fixed-Random Regression results, PW has no significant impact on shareholder return. Sales and ROA have a significant positive relationship with SHR. Conclusions: There is a negative relationship between boardroom gender diversity and a firm’s financial performance. Females in boardrooms either cause negative effects or have no impact on the firm’s financial performance. Similarly, there is no significant relationship between the presence of women in boardrooms and a firm’s reputation.
PL
Wstęp: Obecne badania ujawniają efektywność dla firmy wynikającą ze zróżnicowania płciowego członków zarządu oraz na społeczną odpowiedzialność tej firmy, jak również jej wyniki finansowe i reputację, co prowadzi do zrównoważonego rozwoju biznesowego firmy. W pracy poddano analizie wpływ udziału żeńskich członków zarządu na dywersyfikację działań firmy. Metody: Jako próbę losową wybrano 100 firm umieszczonych na liście giełdy pakistańskiej. Wyniki finansowe były mierzone przy pomocy trzech wskaźników w celu uzyskania bardziej dokładnych wyników. Dane do analizy pobrano za okres od roku 2010 do 2015. Uzyskane dane zostały poddane analizie regresji Fixed-Random OLS, która wykazała brak wpływu zróżnicowania płci członków zarządu na społeczną odpowiedzialność (CSR), wyniki finansowe oraz reputację firmy. Wyniki: Uzyskane wyniki pokazują, że HODI łagodzi aktywność związaną ze społeczną odpowiedzialność. Zgodnie z wynikami przeprowadzonej analizy regresji, PW nie ma istotnego wpływu na zyski finansowe udziałowców. Sprzedaż oraz ROA wykazały pozytywną korelację z SHR. Wnioski: Uzyskano negatywną korelację pomiędzy zróżnicowaniem płciowym członków zarządu a wynikami finansowymi firmy. Obecność kobiet w zarządzie albo miała negatywny wpływ albo nie miała wpływu na wyniki finansowe firmy. Podobnie, nie zaobserwowano istotnej zależności pomiędzy obecnością kobiet w zarządzenie a firmą.
Czasopismo
Rocznik
Strony
61--74
Opis fizyczny
Bibliogr. 38 poz., rys., tab.
Twórcy
autor
  • Business School, Hohai University, Nanjing, Jiangsu, PR China, 211100
autor
  • Business School, Hohai University Nanjing, Jiangsu, PR China, 211100
  • Department of Management and HR, Business School, Hohai University Nanjing, Jiangsu, PR China, 211100
Bibliografia
  • 1. Alm M., Winberg J., 2016. How Does Gender Diversity on Corporate Boards Affect the Firm Financial Performance? https://gupea.ub.gu.se/bitstream/2077/41620/1/gupea_2077_41620_1.pdf
  • 2. Arlow P., Gannon M.J., 1982. Social responsiveness, corporate structure, and economic performance. Academy of Management Review, 7(2), 235-241. http://doi.org/10.5465/amr.1982.4285580
  • 3. Bear S., Rahman N., Post C., 2010. The impact of board diversity and gender composition on corporate social responsibility and firm reputation. Journal of Business Ethics, 97(2), 207-221. http://doi.org/10.1007/s10551-010-0505-2
  • 4. Belal A.R., 2000. Environmental reporting in developing countries: empirical evidence from Bangladesh. Eco-Management and Auditing: The Journal of Corporate Environmental Management, 7(3), 114-121. http://doi.org/10.1002/1099-0925(200009)7:3<114::AID-EMA131>3.0.CO;2-E
  • 5. Bukhari F.Y., Ramzan M., 2013. Gender discrimination: A myth or truth women status in Pakistan. Journal of Business and Management, 8(2), 88-97.
  • 6. Campbell K., Manguez-Vera A., 2008. Gender diversity in the boardroom and firm financial performance. Journal of Business Ethics, 83(3), 435-451. http://doi.org/10.1007/s10551-007-9630-y
  • 7. Campbell K., Vera A.M., 2010. Female board appointments and firm valuation: Short and long-term effects. Journal of Management & Governance, 14(1), 37-59. http://doi.org/10.1007/s10997-009-9092-y
  • 8. Carroll A.B., 1979. A three-dimensional conceptual model of corporate performance. Academy of Management Review, 4(4), 497-505. http://doi.org/10.5465/amr.1979.4498296
  • 9. Chapple L., Humphrey J.E., 2014. Does board gender diversity have a financial impact? Evidence using stock portfolio performance. Journal of Business Ethics, 122(4), 709-723. http://doi.org/10.1007/s10551-013-1785-0
  • 10. Cowen S.S., Ferreri L.B., Parker L.D., 1987. The impact of corporate characteristics on social responsibility disclosure: A typology and frequency-based analysis. Accounting, Organizations and Society, 12(2), 111-122. http://doi.org/10.1016/0361-3682(87)90001-8
  • 11. Ferreira D., 2010. Board Diversity, Chapter 12 in Corporate Governance: A Synthesis of Theory, Research, and Practice, Anderson, R. and HK Baker. John Wiley & Sons.
  • 12. Fuentes-Medina M.L., Morini-Marrero S., Verona-Martel M.C., 2013. The women’s role in corporate reputation. Proceedings in ARSA-Advanced Research in Scientific Areas, (1). ISBN: 978-80-554-0825-5
  • 13. Iqbal N., Ahmad N., Basheer N.A., Nadeem M., 2012. Impact of corporate social responsibility on financial performance of corporations: Evidence from Pakistan. International Journal of Learning and Development, 2(6), 107-118. http://doi.org/10.5296/ijld.v2i6.2717
  • 14. Isidro H., Sobral M., 2015. The effects of women on corporate boards on firm value, financial performance, and ethical and social compliance. Journal of Business Ethics, 132(1), 1-19. http://doi.org/10.1007/s10551-014-2302-9
  • 15. Jamali D., Safieddine A.M., Rabbath M., 2008. Corporate governance and corporate social responsibility synergies and interrelationships. Corporate Governance: An International Review, 16(5), 443-459. http://doi.org/10.1111/j.1467-8683.2008.00702.x
  • 16. Kanter R.M., 1977. Men and women of the corporation. New York: Basic Books.
  • 17. Khan H.U.Z., 2010. The effect of corporate governance elements on corporate social responsibility (CSR) reporting: Empirical evidence from private commercial banks of Bangladesh. International Journal of Law and Management, 52(2), 82-109. http://doi.org/10.1108/17542431011029406
  • 18. Konrad A.M., Kramer V., Erkut S., 2008. The impact of three or more women on corporate boards. Organizational Dynamics, 37(2), 145-164. http://doi.org/10.1016/j.orgdyn.2008.02.005
  • 19. Long J.S., Freese J., 2006. Regression models for categorical dependent variables using Stata. Stata press.
  • 20. Lückerath-Rovers M., 2013. Women on boards and firm performance. Journal of Management&Governance, 17(2), 491-509. http://doi.org/10.1007/s10997-011-9186-1
  • 21. Majeed S., Aziz T., Saleem S., 2015. The effect of corporate governance elements on corporate social responsibility (CSR) disclosure: An empirical evidence from listed companies at KSE Pakistan. International Journal of Financial Studies, 3(4), 530-556. http://doi.org/10.3390/ijfs3040530
  • 22. Marinova J., Plantenga J., Remery C., 2016. Gender diversity and firm performance: Evidence from Dutch and Danish boardrooms. The International Journal of Human Resource Management, 27(15), 1777-1790. http://doi.org/10.1080/09585192.2015.1079229
  • 23. Mian S.N., 2010. Corporate social disclosure in Pakistan: A case study of fertilizers industry. The Journal of Commerce, 2(1), 1.
  • 24. Mirza H.H., Mahmood S., Andleeb S., Ramzan F., 2012. Gender diversity and firm performance: Evidence from Pakistan. Journal of Social and Development Science, 3(5), 161-166.
  • 25. Mukasa K.D., Lim H., Kim K., 2015. How do corporate social responsibility activities influence corporate reputation? Evidence from Korean firms. Journal of Applied Business Research (JABR), 31(2), 383-396. http://doi.org/10.19030/jabr.v31i2.9119
  • 26. Orlitzky M., Schmidt F.L., Rynes S.L., 2003. Corporate social and financial performance: A meta-analysis. Organization Studies, 24(3), 403-441. http://doi.org/10.1177/0170840603024003910
  • 27. Perryman A.A., Fernando G.D., Tripathy A., 2016. Do gender differences persist? An examination of gender diversity on firm performance, risk, and executive compensation. Journal of Business Research, 69(2), 579-586. http://doi.org/10.1016/j.jbusres.2015.05.013
  • 28. Pfeffer J., Salancik G.R., 2003. The external control of organizations: A resource dependence perspective. Stanford University Press.
  • 29. Rhode D.L., Packel A.K., 2014. Diversity on corporate boards: How much difference does difference make. Del. J. Corp. L., 39, 377.
  • 30. Rose C., 2007. Does female board representation influence firm performance? The Danish evidence. Corporate Governance: An International Review, 15(2), 404-413. http://doi.org/10.1111/j.1467-8683.2007.00570.x
  • 31. Sarah C., Mona L.K., 2008. Critical mass theory and women’s political representation. Political Studies, 56(3), 725-736. http://doi.org/10.1111/j.1467-9248.2007.00712.x
  • 32. Sarfraz M., Qun W., Abdullah M.I., Tahir S., 2019. Authentic Leadership, Hope, Work Engagement and Creativity. Journal of Applied Management and Investments, 8(1), 19-31.
  • 33. Sarfraz M., Qun W., Shah S.G.M., Fareed Z., 2019. Do Hierarchical Jumps in CEO Succession Invigorate Innovation? Evidence from Chinese Economy. Sustainability, 11(7), 2017. http://doi.org/10.3390/su11072017
  • 34. Smith N., Smith V., Verner M., 2006. Do women in top management affect firm performance? A panel study of 2,500 Danish firms. International Journal of Productivity and Performance Management, 55(7), 569-593. http://doi.org/10.1108/17410400610702160
  • 35. Terjesen S., Sealy R., Singh V., 2009. Women directors on corporate boards: A review and research agenda. Corporate Governance: An International Review, 17(3), 320-337. http://doi.org/10.1111/j.1467-8683.2009.00742.x
  • 36. Williams R.J., 2003. Women on corporate boards of directors and their influence on corporate philanthropy. Journal of Business Ethics, 42(1), 1-10. http://doi.org/10.1023/A:1021626024014
  • 37. Wood D.J., 1991. Toward improving corporate social performance. Business Horizons, 34(4), 66-73. http://doi.org/10.1016/0007-6813(91)90008-j
  • 38. Yasser Q.R., 2012. Affects of female directors on firms performance in Pakistan. Modern Economy, 3, 817-825.
Uwagi
PL
Opracowanie rekordu ze środków MNiSW, umowa Nr 461252 w ramach programu "Społeczna odpowiedzialność nauki" - moduł: Popularyzacja nauki i promocja sportu (2020).
Typ dokumentu
Bibliografia
Identyfikator YADDA
bwmeta1.element.baztech-0e6a7f5e-f892-4f4b-9e20-29b6f8dad47c
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