Do Women Directors Improve Firm Performance and Risk in India?

Rwan El-Khatib and Nishi Joy ()
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Rwan El-Khatib: College of Business, Zayed University, P.O. Box 19282, Dubai, UAE
Nishi Joy: School of Management Science, University of Stirling, P.O. Box 41222, Ras Al Khaimah, UAE

Quarterly Journal of Finance (QJF), 2021, vol. 11, issue 02, 1-46

Abstract: We examine board diversity in India following a 2013 law requiring all public companies to have at least one female board member. Our results indicate that having women on the board of directors improves firm performance and reduces firm bankruptcy risk. Using data on directors’ backgrounds and social connections, we find that important factors include female directors’ independence, social network size, committee memberships, and graduate education. Our results hold after addressing endogeneity using instrumental variable (IV) and difference-in-differences (DID) approaches.

Keywords: Board gender diversity; women directors; corporate governance; social network size (search for similar items in EconPapers)
Date: 2021
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Citations: View citations in EconPapers (2)

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DOI: 10.1142/S2010139221500063

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