Women in Top Management and Corporate Share Price: The Mediating Role of Management Learning

Felicity K. Mathye and Collins C. Ngwakwe
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Felicity K. Mathye: University of Limpopo, South Africa
Collins C. Ngwakwe: University of Limpopo, South Africa

Managing Global Transitions, 2020, vol. 18, issue 2 (Summer), 111-126

Abstract: The objective of this paper is to evaluate the relationship between the number of females in corporate top management and share value. Given the inconsistencies in previous research, this paper contributes a new model to existing literature by mediating the number of women in top management with the ‘management learning’ variable, which is absent in previous research models. The paper applied a panel data regression approach. Findings from the first analysis (without management learning) indicate a positive relationship (though not significant). Findings from the second analysis (with management learning into the model) show that women in top management are positively and significantly related to share value. The paper concludes that the inclusion and supporting of women in top management through management learning can create a competitive value for the organisation. The paper recommends extension of this new model in future research with more time series and more cross sectional units.

Keywords: share price; gender equity; women in top management; corporate governance; market value; management learning (search for similar items in EconPapers)
JEL-codes: G1 G11 G12 G13 (search for similar items in EconPapers)
Date: 2020
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DOI: 10.26493/1854-6935.18.111-126

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