GENDER, BOARD, AND WORKING CAPITAL

IF 16.4 1区化学 Q1 CHEMISTRY, MULTIDISCIPLINARY

Accounts of Chemical Research Pub Date : 2021-12-24 DOI:10.1142/s2194565921500147

Matthew Imes, Ofra Bazel-Shoham

引用次数: 1

Abstract

This paper examines the effects of gender board diversity on working capital. The study uses a sample of S&P1500 firms, resulting in 9,157 firm-year observations from 2005 to 2019. Our findings show that greater gender diversity on corporate boards is associated with lower liquidity ratios, including lower non-cash ones. The results are robust to a battery of gender board diversity definitions and to a 2SLS analysis which employs the gender ratio in the county’s population in which the firm is headquartered as an instrumental variable. Based on additional tests of the effects of gender board diversity on managerial efficiency ratios, we conclude that the results are driven by superior monitoring associated with gender diversity on the board.

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性别、董事会和营运资金

本文考察了董事会性别多样性对营运资金的影响。该研究使用了标准普尔1500公司的样本，得出了从2005年到2019年的9157个公司年观察结果。我们的研究结果表明，公司董事会性别多元化程度越高，流动性比率越低，包括非现金比率也越低。对于性别董事会多样性的一系列定义，以及采用公司总部所在县的人口性别比例作为工具变量的2SLS分析，结果都是稳健的。基于对董事会性别多样性对管理效率比率影响的额外测试，我们得出结论，这些结果是由与董事会性别多样性相关的卓越监控推动的。

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

Accounts of Chemical Research 化学-化学综合

CiteScore

31.40

自引率

1.10%

发文量

312

审稿时长

2 months

期刊介绍： Accounts of Chemical Research presents short, concise and critical articles offering easy-to-read overviews of basic research and applications in all areas of chemistry and biochemistry. These short reviews focus on research from the author’s own laboratory and are designed to teach the reader about a research project. In addition, Accounts of Chemical Research publishes commentaries that give an informed opinion on a current research problem. Special Issues online are devoted to a single topic of unusual activity and significance. Accounts of Chemical Research replaces the traditional article abstract with an article "Conspectus." These entries synopsize the research affording the reader a closer look at the content and significance of an article. Through this provision of a more detailed description of the article contents, the Conspectus enhances the article's discoverability by search engines and the exposure for the research.