The DOI matches its Crossref record; 6 of the 6 references it cites were found in a registry or an index.
Does board gender diversity improve the informativeness of stock prices?
Open accessAbstract
We show that stock prices of firms with gender-diverse boards reflect more firm-specific information after controlling for corporate governance, earnings quality, institutional ownership and acquisition activity. Further, we show that the relationship is stronger for firms with weak corporate governance suggesting that gender-diverse boards could act as a substitute mechanism for corporate governance that would be otherwise weak. The results are robust to alternative specifications of informativeness and gender diversity and to sensitivity tests controlling for time-invariant firm characteristics and alternative measures of stock price informativeness. We also find that gender diversity improves stock price informativeness through the mechanism of increased public disclosure in large firms and by encouraging private information collection in small firms.
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Citations
Cites
Common risk factors in the returns on stocks and bonds
Fama, E. F., & French, K. R. (1993) · Journal of Financial Economics · doi:10.1016/0304-405x(93)90023-5 · Cited by 25,754
CAPITAL ASSET PRICES: A THEORY OF MARKET EQUILIBRIUM UNDER CONDITIONS OF RISK*
Sharpe, W. F. (1964) · The Journal of Finance · doi:10.1111/j.1540-6261.1964.tb02865.x · Cited by 19,441
Corporate Governance and Equity Prices
Gompers, P., Ishii, J., & Metrick, A. (2003) · The Quarterly Journal of Economics · doi:10.1162/00335530360535162 · Cited by 6,120
Do Women Shy Away From Competition? Do Men Compete Too Much?
Niederle, M., & Vesterlund, L. (2007) · The Quarterly Journal of Economics · doi:10.1162/qjec.122.3.1067 · Cited by 3,186
SECURITY PRICES, RISK, AND MAXIMAL GAINS FROM DIVERSIFICATION*
Lintner, J. (1965) · The Journal of Finance · doi:10.1111/j.1540-6261.1965.tb02930.x · Cited by 2,452
What Differences Make a Difference?: The Promise and Reality of Diverse Teams in Organizations
Mannix, E., & Neale, M. A. (2005) · Psychological Science in the Public Interest · doi:10.1111/j.1529-1006.2005.00022.x · Cited by 1,276
Cited by
Female Directors and Earnings Quality*
SRINIDHI, B., GUL, F. A., & TSUI, J. (2011) · Contemporary Accounting Research · doi:10.1111/j.1911-3846.2011.01071.x · Cited by 1,312
Self-citationThe role of board gender and foreign ownership in the CSR performance of Chinese listed firms
McGuinness, P. B., Vieito, J. P., & Wang, M. (2017) · Journal of Corporate Finance · doi:10.1016/j.jcorpfin.2016.11.001 · Cited by 939
The Influence of Board Composition on Sustainable Development Disclosure
Jizi, M. (2017) · Business Strategy and the Environment · doi:10.1002/bse.1943 · Cited by 593
Perryman, A. A., Fernando, G. D., & Tripathy, A. (2016) · Journal of Business Research · doi:10.1016/j.jbusres.2015.05.013 · Cited by 485
The impact of board gender composition on dividend payouts
Chen, J., Leung, W. S., & Goergen, M. (2017) · Journal of Corporate Finance · doi:10.1016/j.jcorpfin.2017.01.001 · Cited by 432
Metadata
- Authors
- Gul, F. A., Srinidhi, B., & Ng, A. C.
- Venue
- Journal of Accounting and Economics
- Publisher
- Elsevier BV
- Published
- 2011-04
- Volume
- 51
- Issue
- 3
- Pages
- 314-338
- ISSN
- 0165-4101 (ISSN-L)
- OpenAlex
- W1987307803
- Cited by
- 1,570
- References
- 6
- FWCI
- 71.06
- Type
- journal article
- Language
- en
- Open access
- green
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Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
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