Board Gender Diversity and Dividend Policy in Chinese Listed Firms
This study investigates the relationship between gender diversity on the board and dividend payouts in China using a large sample over the period 2003–2017. Our results provide robust and strong evidence showing that gender diversity on the board is positively associated with cash payments of divide...
| Main Authors: | , , , , |
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| Format: | Article |
| Language: | English |
| Published: |
SAGE Publishing
2021-02-01
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| Series: | SAGE Open |
| Online Access: | https://doi.org/10.1177/2158244021997807 |
| _version_ | 1818368913290821632 |
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| author | Qurat Ul Ain Xianghui Yuan Hafiz Mustansar Javaid Jinkai Zhao Li Xiang |
| author_facet | Qurat Ul Ain Xianghui Yuan Hafiz Mustansar Javaid Jinkai Zhao Li Xiang |
| author_sort | Qurat Ul Ain |
| collection | DOAJ |
| description | This study investigates the relationship between gender diversity on the board and dividend payouts in China using a large sample over the period 2003–2017. Our results provide robust and strong evidence showing that gender diversity on the board is positively associated with cash payments of dividends. The empirical outcomes confirm that gender diversity on the board facilitates corporate governance and subsequently promotes dividend payouts. We demonstrate that gender diversity on the board has the greatest effect when the board has critical mass participation (three or more female directors) compared with only their token participation. However, independent female directors increase dividend payouts, while female executive directors do not have a significant impact. Furthermore, we extend the literature on the relationship between dividend payments and government ownership by providing evidence that gender diversity has a higher impact on dividend payouts for state-owned enterprises than non-state-owned enterprises. After controlling the endogeneity problems, our findings are reliable and robust. JEL classifications : G30, G35 |
| first_indexed | 2024-12-13T23:15:30Z |
| format | Article |
| id | doaj.art-0919207437a54ccb8e67f4e775e000d5 |
| institution | Directory Open Access Journal |
| issn | 2158-2440 |
| language | English |
| last_indexed | 2024-12-13T23:15:30Z |
| publishDate | 2021-02-01 |
| publisher | SAGE Publishing |
| record_format | Article |
| series | SAGE Open |
| spelling | doaj.art-0919207437a54ccb8e67f4e775e000d52022-12-21T23:27:57ZengSAGE PublishingSAGE Open2158-24402021-02-011110.1177/2158244021997807Board Gender Diversity and Dividend Policy in Chinese Listed FirmsQurat Ul Ain0Xianghui Yuan1Hafiz Mustansar Javaid2Jinkai Zhao3Li Xiang4Xi’an Jiaotong University, ChinaXi’an Jiaotong University, ChinaSapienza Università di Roma, ItalyShandong University of Science and Technology, Qingdao, ChinaXi’an Jiaotong University, ChinaThis study investigates the relationship between gender diversity on the board and dividend payouts in China using a large sample over the period 2003–2017. Our results provide robust and strong evidence showing that gender diversity on the board is positively associated with cash payments of dividends. The empirical outcomes confirm that gender diversity on the board facilitates corporate governance and subsequently promotes dividend payouts. We demonstrate that gender diversity on the board has the greatest effect when the board has critical mass participation (three or more female directors) compared with only their token participation. However, independent female directors increase dividend payouts, while female executive directors do not have a significant impact. Furthermore, we extend the literature on the relationship between dividend payments and government ownership by providing evidence that gender diversity has a higher impact on dividend payouts for state-owned enterprises than non-state-owned enterprises. After controlling the endogeneity problems, our findings are reliable and robust. JEL classifications : G30, G35https://doi.org/10.1177/2158244021997807 |
| spellingShingle | Qurat Ul Ain Xianghui Yuan Hafiz Mustansar Javaid Jinkai Zhao Li Xiang Board Gender Diversity and Dividend Policy in Chinese Listed Firms SAGE Open |
| title | Board Gender Diversity and Dividend Policy in Chinese Listed Firms |
| title_full | Board Gender Diversity and Dividend Policy in Chinese Listed Firms |
| title_fullStr | Board Gender Diversity and Dividend Policy in Chinese Listed Firms |
| title_full_unstemmed | Board Gender Diversity and Dividend Policy in Chinese Listed Firms |
| title_short | Board Gender Diversity and Dividend Policy in Chinese Listed Firms |
| title_sort | board gender diversity and dividend policy in chinese listed firms |
| url | https://doi.org/10.1177/2158244021997807 |
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