Board gender diversity in Italian Ipos

Cristiana Cardi and Caterina Lucarelli
Additional contact information
Cristiana Cardi: Università Politecnica delle Marche

BANCARIA, 2017, vol. 1, 18-37

Abstract: Our empirical analysis of gender diversity, within the boards of 83 Ipos listed in Italian Stock Exchange, shows a lower female participation in board of directors for companies of larger dimensions, higher concentrated shareholding structure, better profitability, higher seniority of both the company and of board members. Financial sector companies show a lower participation of women, as well. Conversely, board gender diversity intensifies when female members hold a familiar relationship with others board members. Our results on effects of gender diversity confirm the ambiguous outcomes revealed in existing literature. Nevertheless, we found evidence that Ipos with a superior gender diversity obtain improved market performances, with a longer survivorship on the stock exchange, lower return volatility and better book to market ratio

JEL-codes: G30 J16 M10 (search for similar items in EconPapers)
Date: 2017
References: Add references at CitEc
Citations:

Downloads: (external link)
http://www.bancaria.it/en/board-gender-diversity-in-italian-ipos/ (text/html)

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:ban:bancar:v:01:y:2017:m:january:p:18-37

Access Statistics for this article

BANCARIA is currently edited by Bancaria Editrice - the publisher of the Italian Banking Association

More articles in BANCARIA from Bancaria Editrice
Bibliographic data for series maintained by Francesco Emiliano Tani ().