Do female directors mitigate asymmetric cost behavior? Evidence from international data

Anh Tuan Le, Thao Phuong Tran, Tzu Chang Forrest Cheng

研究成果: 雜誌貢獻期刊論文同行評審

1 引文 斯高帕斯(Scopus)

摘要

Using an international sample of firms across 37 countries from 1999 to 2018, we find that firms with more gender diversity exhibit lower cost stickiness. The results are robust for alternative measures of variables and after addressing endogeneity issues through a two-stage least squares estimation. Furthermore, the impact of board gender diversity on firm cost stickiness is more pronounced in firms that have higher agency costs, lower corporate governance, higher risk-taking, and non-overconfident managers. Overall, our findings contribute to the extant literature by offering evidence of the role female directors play in minimizing agency problems and reducing asymmetric cost behavior.

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文章編號103121
期刊Finance Research Letters
49
DOIs
出版狀態已出版 - 10月 2022

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