The Impact of Female Directors on Board, and Female CEO on Firm Performance: Empirical Evidence from Emerging Economy

Purpose: As per agency theory prospective, board gender diversity enhances the corporate leadership structure which mitigates agency conflicts among stakeholders. Therefore, this study investigates the impact of female directors on board, and female CEOs on firm performance. We also uses board size...

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Autores principales:	Muhammad Tasnim Khan, Sania Sarfraz, Muhammad Husnain
Formato:	article
Lenguaje:	EN
Publicado:	CSRC Publishing 2021
Materias:	Board Structure Gender Diversity Female CEOs Firm Performance Emerging Economy Business HF5001-6182
Acceso en línea:	https://doaj.org/article/75545010da4e4ee0bfad86c74346ddcc
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spelling	oai:doaj.org-article:75545010da4e4ee0bfad86c74346ddcc2021-11-04T02:35:00ZThe Impact of Female Directors on Board, and Female CEO on Firm Performance: Empirical Evidence from Emerging Economy10.26710/jbsee.v7i3.19012519-089X2519-0326https://doaj.org/article/75545010da4e4ee0bfad86c74346ddcc2021-09-01T00:00:00Zhttp://publishing.globalcsrc.org/ojs/index.php/jbsee/article/view/1901https://doaj.org/toc/2519-089Xhttps://doaj.org/toc/2519-0326 Purpose: As per agency theory prospective, board gender diversity enhances the corporate leadership structure which mitigates agency conflicts among stakeholders. Therefore, this study investigates the impact of female directors on board, and female CEOs on firm performance. We also uses board size, and board independence as board level control, while leverage, firm size, capital expenditure & tangibility as firm level control. Design/Methodology/Approach: The study uses a panel data starting from 2005 to 2020 on annual basis. To resolve endogeneity and unobserved heterogeneity problems in panel data analysis, study uses static (fixed effect, & random effect) and dynamic (GMM) estimation techniques in Pakistan. Findings: Result shows the positive impact of female directors on board and female CEOs on firm performance. These findings are robust under alternative measures of firm performance. Implications/Originality/Value: The study suggests that female representation and female CEOs are the important attributes to enhance firm performance. Additionally, females are performing a significant role through monitor and control for excellent corporate leadership structure. Furthermore, this is the first study of its kind which analyzes this relationship in the emerging equity market of Pakistan. Muhammad Tasnim KhanSania SarfrazMuhammad HusnainCSRC PublishingarticleBoard StructureGender DiversityFemale CEOsFirm PerformanceEmerging EconomyBusinessHF5001-6182ENJournal of Business and Social Review in Emerging Economies, Vol 7, Iss 3 (2021)
institution	DOAJ
collection	DOAJ
language	EN
topic	Board Structure Gender Diversity Female CEOs Firm Performance Emerging Economy Business HF5001-6182
spellingShingle	Board Structure Gender Diversity Female CEOs Firm Performance Emerging Economy Business HF5001-6182 Muhammad Tasnim Khan Sania Sarfraz Muhammad Husnain The Impact of Female Directors on Board, and Female CEO on Firm Performance: Empirical Evidence from Emerging Economy
description	Purpose: As per agency theory prospective, board gender diversity enhances the corporate leadership structure which mitigates agency conflicts among stakeholders. Therefore, this study investigates the impact of female directors on board, and female CEOs on firm performance. We also uses board size, and board independence as board level control, while leverage, firm size, capital expenditure & tangibility as firm level control. Design/Methodology/Approach: The study uses a panel data starting from 2005 to 2020 on annual basis. To resolve endogeneity and unobserved heterogeneity problems in panel data analysis, study uses static (fixed effect, & random effect) and dynamic (GMM) estimation techniques in Pakistan. Findings: Result shows the positive impact of female directors on board and female CEOs on firm performance. These findings are robust under alternative measures of firm performance. Implications/Originality/Value: The study suggests that female representation and female CEOs are the important attributes to enhance firm performance. Additionally, females are performing a significant role through monitor and control for excellent corporate leadership structure. Furthermore, this is the first study of its kind which analyzes this relationship in the emerging equity market of Pakistan.
format	article
author	Muhammad Tasnim Khan Sania Sarfraz Muhammad Husnain
author_facet	Muhammad Tasnim Khan Sania Sarfraz Muhammad Husnain
author_sort	Muhammad Tasnim Khan
title	The Impact of Female Directors on Board, and Female CEO on Firm Performance: Empirical Evidence from Emerging Economy
title_short	The Impact of Female Directors on Board, and Female CEO on Firm Performance: Empirical Evidence from Emerging Economy
title_full	The Impact of Female Directors on Board, and Female CEO on Firm Performance: Empirical Evidence from Emerging Economy
title_fullStr	The Impact of Female Directors on Board, and Female CEO on Firm Performance: Empirical Evidence from Emerging Economy
title_full_unstemmed	The Impact of Female Directors on Board, and Female CEO on Firm Performance: Empirical Evidence from Emerging Economy
title_sort	impact of female directors on board, and female ceo on firm performance: empirical evidence from emerging economy
publisher	CSRC Publishing
publishDate	2021
url	https://doaj.org/article/75545010da4e4ee0bfad86c74346ddcc
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The Impact of Female Directors on Board, and Female CEO on Firm Performance: Empirical Evidence from Emerging Economy

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