Board gender diversity and firm performance: Empirical evidence from Hong Kong, South Korea, Malaysia and Singapore

Daniel C.M. Low, Helen Roberts and Rosalind H. Whiting

Pacific-Basin Finance Journal, 2015, vol. 35, issue PA, 381-401

Abstract: Utilising a sample of Asian firms from Hong Kong, South Korea, Malaysia and Singapore, this study shows that increasing numbers of female directors on the board have a positive effect on firm performance, as measured by return on equity (ROE). However, the positive effects of gender diversity appear to be diminished in countries with higher female economic participation and empowerment. This may be due to tokenism and suggests that forcing female director appointment or mandating gender quotas can reduce firm performance in countries with strong cultural resistance.

Keywords: Board of directors; Gender; Diversity; Asia (search for similar items in EconPapers)
JEL-codes: G30 G34 G38 J16 (search for similar items in EconPapers)
Date: 2015
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Citations: View citations in EconPapers (71)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:pacfin:v:35:y:2015:i:pa:p:381-401

DOI: 10.1016/j.pacfin.2015.02.008

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