The DOI matches its Crossref record; 39 of the 39 references it cites were found in a registry or an index.
The impact of board gender composition on dividend payouts
Open accessAbstract
This paper investigates whether female independent directors are more likely to impose high dividend payouts. We find evidence that firms with a larger fraction of female directors on their board have greater dividend payouts. This finding is robust to alternative econometric specifications, and alternative measures of dividend payouts and female board representation. The positive effect of board gender composition on dividends remains when we employ propensity score matching, the instrumental variable approach, and difference-in-differences approach to address potential endogeneity concerns. Furthermore, we find that board gender composition significantly increases the dividend payout only for firms with weak governance, suggesting that female directors use dividend payouts as a governance device.
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Cites
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Cox, D. R. (1972) · Journal of the Royal Statistical Society Series B: Statistical Methodology · doi:10.1111/j.2517-6161.1972.tb00899.x · Cited by 39,793
Regression Models and Life-Tables
Cox, D. R. (1992) · Springer Series in Statistics · doi:10.1007/978-1-4612-4380-9_37 · Cited by 26,297
Agency Costs of Free Cash Flow, Corporate Finance, and Takeovers
Jensen, M. C. (1986) · Cited by 17,275
Large Sample Properties of Generalized Method of Moments Estimators
Hansen, L. P. (1982) · Econometrica · doi:10.2307/1912775 · Cited by 13,467
Testing for Weak Instruments in Linear IV Regression
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Women in the boardroom and their impact on governance and performance☆
Adams, R. B., & Ferreira, D. (2009) · Journal of Financial Economics · doi:10.1016/j.jfineco.2008.10.007 · Cited by 5,711
Outside directors and CEO turnover
Weisbach, M. S. (1988) · Journal of Financial Economics · doi:10.1016/0304-405x(88)90053-0 · Cited by 4,234
Corporate Governance, Board Diversity, and Firm Value
Carter, D. A., Simkins, B. J., & Simpson, W. G. (2003) · Financial Review · doi:10.1111/1540-6288.00034 · Cited by 3,353
Two Agency-Cost Explanations of Dividends
Easterbrook, F. H. (1984) · eYLS (Yale Law School) · Cited by 3,065
Disappearing dividends: changing firm characteristics or lower propensity to pay?
Fama, E. F., & French, K. R. (2001) · Journal of Financial Economics · doi:10.1016/s0304-405x(01)00038-1 · Cited by 3,035
Cited by
Payout policy and ESG: A European investigation
Salvi, A., Nirino, N., Battisti, E., & Gianfrancesco, I. (2024) · Research in International Business and Finance · doi:10.1016/j.ribaf.2023.102189 · Cited by 39
Metadata
- Authors
- Chen, J., Leung, W. S., & Goergen, M.
- Venue
- Journal of Corporate Finance
- Publisher
- Elsevier BV
- Published
- 2017-04
- Volume
- 43
- Pages
- 86-105
- ISSN
- 0929-1199 (ISSN-L)
- OpenAlex
- W2530129800
- Cited by
- 432
- References
- 39
- FWCI
- 78.02
- Type
- journal article
- Language
- en
- Open access
- hybrid
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Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.
