Board Gender Diversity and Firm Financial Performance: A Quantile Regression Analysis

Abstract

Numerous empirical studies have been conducted to analyze the impact of board gender diversity (BGD) on firm performance without being able to establish a clear relationship. In this paper, we reassess the relationship between BGD and firm performance by using a quantile regression approach. Our results indicate that BGD matters only across a subset of the firm performance distribution. Moreover, when the possible endogeneity of the relationship between BGD and firm performance is taken into account, there are some conditions under which a positive and significant relationship is observed for the eight lowest quantiles.

Citation

Charles, A., Dang, R. and Redor, E. (2018), "Board Gender Diversity and Firm Financial Performance: A Quantile Regression Analysis", International Corporate Governance and Regulation (Advances in Financial Economics, Vol. 20), Emerald Publishing Limited, Leeds, pp. 15-55. https://doi.org/10.1108/S1569-373220180000020002