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

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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

JEL Classifications: G32, M14, G30

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Author Biographies

Matteo Rossi, University of Sannio

Assistant Professor of Corporate FinanceDEMM Department

Arturo Capasso, University of Sannio

Full Professor of Corporate GovernanceDEMM Department

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Published

2017-12-09

How to Cite

Rossi, M., Galasso, S., & Capasso, A. (2017). Women Do it Better: An Investigation on the Association between Gender Diversity In Board of Directors and the Financial Performance. International Journal of Economics and Financial Issues, 7(6), 41–50. Retrieved from https://www.econjournals.com/index.php/ijefi/article/view/5577

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