EconPapers    
Economics at your fingertips  
 

Board Gender Diversity and Firm Risk

Zyed Achour

Post-Print from HAL

Abstract: In this chapter, we address the following question: Does board gender diversity affect global risk? Drawing on agency theory, upper echelon theory, and human capital theory, we hypothesize that gender diversity on the board of directors will decrease the volatility of firm risk. Applying fixed effect estimation on a panel data of listed French companies (SBF120) for the years 2011–2018, the results show a negative link between the percentage of female directors on the board and the standard deviation of monthly stock return as firm risk proxy suggesting that the inclusion of more women on corporate boards could improve financial stability. Our findings contribute to the literature by providing empirical evidence from France occupying the first place at the European level with the most female presence on the boards of directors.1

Keywords: board gender diversity; board of directors; corporate governance; firm risk; SBF 120 (search for similar items in EconPapers)
Date: 2021-11-15
New Economics Papers: this item is included in nep-bec, nep-cfn, nep-cwa, nep-gen, nep-isf and nep-rmg
Note: View the original document on HAL open archive server: https://hal.science/hal-03471445
References: View references in EconPapers View complete reference list from CitEc
Citations:

Published in Corporate Governance - Recent Advances and Perspectives [Working Title], IntechOpen, 2021, ⟨10.5772/intechopen.100189⟩

Downloads: (external link)
https://hal.science/hal-03471445/document (application/pdf)

Related works:
Chapter: Board Gender Diversity and Firm Risk Downloads
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-03471445

DOI: 10.5772/intechopen.100189

Access Statistics for this paper

More papers in Post-Print from HAL
Bibliographic data for series maintained by CCSD ().

 
Page updated 2025-03-19
Handle: RePEc:hal:journl:hal-03471445