Gender Diversity in Board of Directors and the Relationship between Performance and Financial Risk in Family Firms

Lilian Costa, Joelson Sampaio () and Eduardo Flores

RAC - Revista de Administração Contemporânea (Journal of Contemporary Administration), 2019, vol. 23, issue 6, 721-738

Abstract: 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.

Date: 2019
References: Add references at CitEc
Citations:

Downloads: (external link)
https://rac.anpad.org.br/index.php/rac/article/view/1364/1417 (text/html)
https://rac.anpad.org.br/index.php/rac/article/download/1364/1417 (application/pdf)

Related works:
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:abg:anprac:v:23:y:2019:i:6:1364

Access Statistics for this article

RAC - Revista de Administração Contemporânea (Journal of Contemporary Administration) is currently edited by Marcelo de Souza Bispo

More articles in RAC - Revista de Administração Contemporânea (Journal of Contemporary Administration) from ANPAD - Associação Nacional de Pós-Graduação e Pesquisa em Administração
Bibliographic data for series maintained by Information Technology of ANPAD ().