The implication of board's independence, size, and gender inequality on airports’ efficiency

Ane Elixabete Ripoll-Zarraga, Sonia Huderek-Glapska and Anna Chwiłkowska-Kubala

Chapter 16 in Research Handbook on Air Transport Leadership and Governance, 2025, pp 257-279 from Edward Elgar Publishing

Abstract: Adequate management, supervision, and control are essential for effective airport operations decisions. The Board Structure (internal mechanism of corporate governance) embeds a monitoring system (one or two-tier system) for decision-making processes according to the airports’ needs and shareholders’ best interests. However, other factors could implicitly enhance endogamy. Research demonstrates a positive relationship between board size, gender, and the quality of the reporting. However, previous studies have not assessed the implication of board composition features on aviation efficiency. We apply Data Envelopment Analysis (DEA) to estimate 41 airports’ efficiency using 2019 data. We use a second-stage truncated regression to explain efficiency per the Boards’ features (independence, size, and gender equality) and accounting, financing, and company characteristics. The results show that gender equality at the Board level and Board size improve airports’ efficiency significantly. However, a second-tier system, that is, having executive (internal) and non-executive members (external), does not ensure appropriate managerial decisions, thus reducing airports’ efficiency.

Keywords: Corporate governance; Board composition; Gender equality; Airports; Efficiency; DEA; Truncated regression (search for similar items in EconPapers)
Date: 2025
ISBN: 9781803926971
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