Female Board Representation and Corporate Performance: A Review and New Estimates for Australia

Nicholas Bayly, Robert Breunig and Chris Wokker
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Nicholas Bayly: Australian National University
Chris Wokker: Australian National University

No 16617, IZA Discussion Papers from Institute of Labor Economics (IZA)

Abstract: Despite a conventional wisdom that female board members positively impact firm performance, a thorough examination of the research to date reveals no consensus that female board members have either a positive or negative effect on firm performance. We build the largest dataset of Australian board appointments assembled to date. We use our data to demonstrate how difficult it is to replicate existing research, with one example from Australia and one from the US. Using event studies and regression analyses we demonstrate that there is little evidence that female board representation affects firm financial performance.

Keywords: gender representation; board of directors; firm performance; female directors (search for similar items in EconPapers)
JEL-codes: G32 J16 N20 (search for similar items in EconPapers)
Pages: 71 pages
Date: 2023-11
New Economics Papers: this item is included in nep-bec, nep-cfn, nep-eff, nep-gen, nep-hrm and nep-lab
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Published - published in: Economic Record, 2024, 100 (330), 386-417

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