华沙证券交易所上市公司执行董事会多元化政策的决定因素

Equilibrium Pub Date : 2021-09-30 DOI:10.24136/eq.2021.022
Anna Wawryszuk-Misztal
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引用次数: 1

摘要

研究背景:多元化管理是当前公众讨论的热点问题之一。对于波兰上市公司来说,董事会多元化的要求是相当新的。在华沙证券交易所上市的公司必须就公司遵守《?GPW上市公司最佳实践2016?。该规定基于“遵守还是解释?因此,公司可以决定是否遵守准则中的每一条规则,但不执行一条或多条规则的决定应由公司解释。一些建议的规则涉及董事会(监督和管理)多样性政策的实施,其中多样性指的是性别、教育、年龄和专业经验等方面。本文的目的:本研究旨在调查在WSE上市的国内公司执行董事会多元化政策的决定因素。它还记录了不适用董事会多元化政策的公司提供的解释。方法:研究样本涵盖2016年至2018年11月30日期间在华沙证券交易所上市的268家非金融国内公司。公司?关于公司遵守公司治理准则的最新报告和发布的公司信息?对网站进行了分析,以确定那些宣布实施董事会多元化政策的网站。本研究使用逻辑回归分析来识别可能影响董事会多元化政策实施的企业层面特征。研究结果和附加值:这是第一项分析WSE上市波兰公司董事会多元化政策实施驱动因素的研究。研究表明,大公司、管理委员会规模较大的公司以及由女性担任监事会主席的公司更有可能采取行动,寻求实现管理和监事会的多样性。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
Determinants of board diversity policy implementation by companies listed on the Warsaw Stock Exchange
Research background: Diversity management is one of the hot topic issues present in current public discussions. Board diversity requirements are quite new for Polish public companies. The companies listed on the Warsaw Stock Exchange have to publish a statement on the company's compliance with the corporate governance recommendations and principles included in ?Best Practice for GPW Listed Companies 2016?. This regulation is based on the 'comply or explain? principle, thus the company may decide whether to comply with every rule included in the code, but decision on not implementing one or more rules should be explained by the company. Some of the recommended rules regard the board (supervisory and management) diversity policy implementation, where diversity refers to such dimensions as gender, education, age and professional experience. Purpose of the article: This study aims to investigate determinants of board diversity policy implementation by domestic companies listed on the WSE. It also documents explanations provided by companies that do not apply board diversity policy. Methods: The research sample covers 268 non-financial domestic companies listed on the Warsaw Stock Exchange between 2016 and 30 November 2018. The companies? current reports on company compliance with the corporate governance codes and information issued on companies? websites were analyzed in order to identify those that announced implementation of board diversity policy. This study uses logistic regression analysis to identify the firm-level characteristics that may influence the implementation of board diversity policy. Findings & value added: This is the first study analyzing the drivers of board diversity policy implementation by Polish companies listed on the WSE. It shows that large companies, companies with larger management boards and companies with women acting as presidents of the supervisory boards are more likely to take actions seeking to achieve management and supervisory board diversity.
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