Board gender diversity and voluntary disclosure: moderation of family ownership in India

Rupjyoti Saha and Santi Gopal Maji

International Journal of Accounting & Information Management, 2024, vol. 32, issue 5, 749-772

Abstract: Purpose - Given the dominance of family ownership in India, this paper aims to examine whether the impact of board gender diversity (BGD) on voluntary disclosure (VD) is moderated by family ownership. Design/methodology/approach - Based on a panel data set of the top 100 listed Indian firms for five years, this study examines the impact of BGD on VD by segregating the sample between family-owned and nonfamily firms. For empirical analysis, we use appropriate panel data models. For robustness, we employ a three-stage least square (3SLS) model. Findings - The findings reveal the significant positive impact of BGD in terms of its different measures on VD for family and nonfamily firms. However, the impact becomes insignificant for nonfamily-owned firms when female directors are not substantially represented on the board. Originality/value - This study extends the ongoing debate about the outcomes of the mandatory gender quota on board by providing novel evidence on the difference between the impact of BGD on VD for family and nonfamily firms in the Indian context.

Keywords: Board gender diversity; Voluntary disclosure; Panel data regression; India (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:eme:ijaimp:ijaim-05-2023-0132

DOI: 10.1108/IJAIM-05-2023-0132

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