Gender Diversity in Board of Directors and the Relationship between Performance and Financial Risk in Family Firms
This paper analyzes the influence of female participation on the performance and financial risk considering a sample of 218 public companies traded on B3 (Bovespa) from 2010 a 2016. The study also analyzes the influence of female participation on family control companies. Using a random effects meth...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
| Published: |
Associação Nacional de Pós-Graduação e Pesquisa em Administração (ANPAD)
2019-10-01
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| Series: | RAC: Revista de Administração Contemporânea |
| Subjects: | |
| Online Access: | http://www.scielo.br/scielo.php?script=sci_arttext&pid=S1415-65552019000600721&lng=en&nrm=iso&tlng=pt |
| _version_ | 1797761319482425344 |
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| author | Lilian Costa Joelson de Oliveira Sampaio Eduardo Silva Flores |
| author_facet | Lilian Costa Joelson de Oliveira Sampaio Eduardo Silva Flores |
| author_sort | Lilian Costa |
| collection | DOAJ |
| description | This paper analyzes the influence of female participation on the performance and financial risk considering a sample of 218 public companies traded on B3 (Bovespa) from 2010 a 2016. The study also analyzes the influence of female participation on family control companies. Using a random effects methodology and family control dummy and percentage of female presence in boards of director, the study sought to analyze how theses variables and their interactions affect the financial performance of companies. Although the female representation has grown more than 50% in recent years, this share, however, in the board of directors of Brazilian companies is still a minority, close to 9% of the total surveyed. The ownership structure in the family firms is very relevant, with the percentage of 63%. The results suggest a positive relation between female participation and the Tobin-Q, used by value’s proxy, however, this relationship is weaker for firms with a family control. Another result found is that volatility, taken here as a risk’s proxy, is reduced in family run-business. |
| first_indexed | 2024-03-12T19:11:15Z |
| format | Article |
| id | doaj.art-89a4e9c8016e404984f528238a4eb5ba |
| institution | Directory Open Access Journal |
| issn | 1982-7849 |
| language | English |
| last_indexed | 2024-03-12T19:11:15Z |
| publishDate | 2019-10-01 |
| publisher | Associação Nacional de Pós-Graduação e Pesquisa em Administração (ANPAD) |
| record_format | Article |
| series | RAC: Revista de Administração Contemporânea |
| spelling | doaj.art-89a4e9c8016e404984f528238a4eb5ba2023-08-02T05:51:25ZengAssociação Nacional de Pós-Graduação e Pesquisa em Administração (ANPAD)RAC: Revista de Administração Contemporânea1982-78492019-10-0123672173810.1590/1982-7849rac2019180327Gender Diversity in Board of Directors and the Relationship between Performance and Financial Risk in Family FirmsLilian Costa0Joelson de Oliveira Sampaio1Eduardo Silva Flores2Fundação Getulio Vargas, Escola de Economia de São Paulo, São Paulo, SP, BrasilFundação Getulio Vargas, Escola de Economia de São Paulo, São Paulo, SP, BrasilUniversidade de São Paulo, Faculdade de Economia, Administração e Contabilidade, São Paulo, SP, BrasilThis paper analyzes the influence of female participation on the performance and financial risk considering a sample of 218 public companies traded on B3 (Bovespa) from 2010 a 2016. The study also analyzes the influence of female participation on family control companies. Using a random effects methodology and family control dummy and percentage of female presence in boards of director, the study sought to analyze how theses variables and their interactions affect the financial performance of companies. Although the female representation has grown more than 50% in recent years, this share, however, in the board of directors of Brazilian companies is still a minority, close to 9% of the total surveyed. The ownership structure in the family firms is very relevant, with the percentage of 63%. The results suggest a positive relation between female participation and the Tobin-Q, used by value’s proxy, however, this relationship is weaker for firms with a family control. Another result found is that volatility, taken here as a risk’s proxy, is reduced in family run-business.http://www.scielo.br/scielo.php?script=sci_arttext&pid=S1415-65552019000600721&lng=en&nrm=iso&tlng=ptfirms with family controlgender diversityfinancial performanceriskboard of directors |
| spellingShingle | Lilian Costa Joelson de Oliveira Sampaio Eduardo Silva Flores Gender Diversity in Board of Directors and the Relationship between Performance and Financial Risk in Family Firms RAC: Revista de Administração Contemporânea firms with family control gender diversity financial performance risk board of directors |
| title | Gender Diversity in Board of Directors and the Relationship between Performance and Financial Risk in Family Firms |
| title_full | Gender Diversity in Board of Directors and the Relationship between Performance and Financial Risk in Family Firms |
| title_fullStr | Gender Diversity in Board of Directors and the Relationship between Performance and Financial Risk in Family Firms |
| title_full_unstemmed | Gender Diversity in Board of Directors and the Relationship between Performance and Financial Risk in Family Firms |
| title_short | Gender Diversity in Board of Directors and the Relationship between Performance and Financial Risk in Family Firms |
| title_sort | gender diversity in board of directors and the relationship between performance and financial risk in family firms |
| topic | firms with family control gender diversity financial performance risk board of directors |
| url | http://www.scielo.br/scielo.php?script=sci_arttext&pid=S1415-65552019000600721&lng=en&nrm=iso&tlng=pt |
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