Females’ Representation in the Boardroom and Their Impact on Financial Distress: An Evidence from Family Businesses in India

Q3 Business, Management and Accounting

Indian Journal of Corporate Governance Pub Date : 2018-06-01 DOI:10.1177/0974686218763857

Sangeeta Mittal, Lavina

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引用次数: 19

Abstract

Abstract This study empirically examine the females’ representation (gender diversity) on the board as well as their impact on financial distress by taking the sample of Indian-listed family firms for a period ranging from 2013 to 2016. Descriptive statistics and logistic regression have been used to find out the influence of feminine on financial distress. The results of descriptive statistics show that on an average, there is just 9 per cent share of females on the board to a maximum of 28 per cent and only 2 per cent of firms have female chief executive officer (FCEO). Further, females have a diminutive impact on financial distress since their presence on the board is very low. Only one variable, females’ percentage (FPER) on the board is significant and negatively associated with financial distress. However, other insignificant variables are also negatively related with financial distress indicating that gender diversity on the board can minimise the financial distress. Consequently, practical implications derived from the present study are that there should be a considerable share of females on the board and executive positions so that their decisions could considerably impact the firm’s performance and be helpful to reduce the financial distress.

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女性在董事会会议室的代表性及其对财务困境的影响——来自印度家族企业的证据

摘要本研究以2013年至2016年印度上市家族企业为样本，实证检验了女性在董事会中的代表性(性别多样性)及其对财务困境的影响。运用描述性统计和逻辑回归分析，探讨女性对财务困境的影响。描述性统计的结果显示，平均而言，董事会中女性的比例只有9%，最高不超过28%，只有2%的公司有女性首席执行官。此外，女性对财务困境的影响很小，因为她们在董事会中的比例非常低。只有一个变量，女性在董事会中的比例(FPER)与财务困境呈显著负相关。然而，其他不重要的变量也与财务困境负相关，表明董事会的性别多样性可以最大限度地减少财务困境。因此，从本研究中得出的实际含义是，董事会和行政职位中应该有相当大的女性份额，以便她们的决定可以大大影响公司的业绩，并有助于减少财务困境。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Indian Journal of Corporate Governance Business, Management and Accounting-Business and International Management

CiteScore

2.00

自引率

0.00%

发文量

期刊介绍： Indian Journal of Corporate Governance is a bi-annual refereed journal that provides a forum for discussions and exchanging views on a wide range of corporate governance issues ranging from board practices, independent directors, whistle blower policies and shareholder activism on one hand to media’s role in corporate governance, corporate social responsibility and sustainability reporting on the other. It comprises of research articles, concept papers, case studies and reports providing a blend of theory and practices of corporate governance globally to cater to the interests of practitioners, academics, researchers and policy makers.