Women Do it Better: An Investigation on the Association between Gender Diversity In Board of Directors and the Financial Performance

Matteo Rossi, Serena Galasso and Arturo Capasso ()
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Matteo Rossi: University of Sannio, Italy
Serena Galasso: University of Sannio, Italy

International Journal of Economics and Financial Issues, 2017, vol. 7, issue 6, 41-50

Abstract: The aim of this study is to analyse the impact of gender diversity on the financial performance of Italian listed companies. A cross-sectional regression used about the data of the year 2016 of Italian listed firms. The study is a mix of descriptive and explanatory research. The model is a scoring model, composed by two variables: Board of Directors (BoD), and Top Management (TM). We investigate the impact of these variables on the Return on Equity, the Price book value, and the EBITDA. The study shows a positive relationship between financial performance and the composition of the BoD and the operational performance and the composition of the Top management. The cross sectional regression highlights also the non-relation on the Return on Equity. Anyway these contrasting results confirm the properness of the model for this kind of research.

Keywords: Gender Diversity; Financial Perfomance; Borad of Directors; Italian Listed Companies (search for similar items in EconPapers)
JEL-codes: G30 G32 M14 (search for similar items in EconPapers)
Date: 2017
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Citations: View citations in EconPapers (6)

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