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Chief executive officer power and board gender diversity

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  • Brodmann, Jennifer
  • Hossain, Ashrafee
  • Singhvi, Meghna

Abstract

This study explores the role of chief executive officer (CEO) power in determining board gender diversity. We constructed a CEO power index to measure gender diversity. We find that CEO power exerts a positive influence on board gender diversity. This finding is robust when compared to alternate measures of CEO power and board diversity. We also conduct various robustness and endogeneity tests, such as entropy balancing, two-stage least squares regression analysis, lead-lag specification, and system generalized method of moments, and our results survive in all cases. In the cross-sectional setup, we determine that firms with a larger board, a younger board, and higher level of institutional ownership most effectively influence the association between CEO power and gender diversity.

Suggested Citation

  • Brodmann, Jennifer & Hossain, Ashrafee & Singhvi, Meghna, 2022. "Chief executive officer power and board gender diversity," Finance Research Letters, Elsevier, vol. 44(C).
    • Handle: RePEc:eee:finlet:v:44:y:2022:i:c:s154461232100180x
    DOI: 10.1016/j.frl.2021.102099
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    Cited by:

    1. Baoyin Qiu & Haohan Ren & Jingjing Zuo & Bo Cheng, 2023. "Social Trust and Female Board Representation: Evidence from China," Journal of Business Ethics, Springer, vol. 188(1), pages 187-204, November.
    2. Yasar, Alperen, 2023. "Power struggles and gender discrimination in the workplace," SocArXiv t4g83, Center for Open Science.
    3. Hossain, Ashrafee & Rjiba, Hatem & Zhang, Dongyang, 2023. "Ex-ante litigation risk and firm-level climate-change exposure," Journal of Economic Behavior & Organization, Elsevier, vol. 214(C), pages 731-746.
    4. Pochara Arayakarnkul & Pattanaporn Chatjuthamard & Sirimon Treepongkaruna, 2022. "Board gender diversity, corporate social commitment and sustainability," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 29(5), pages 1706-1721, September.
    5. Meng, Chenyang & Shi, Daqian & Wang, Bin, 2023. "The impact of green human capital of entrepreneur on enterprise green innovation: A study based on the theory of pro-environmental behavior," Finance Research Letters, Elsevier, vol. 58(PB).

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    More about this item

    Keywords

    Chief executive officer (CEO) power; Board gender diversity; Corporate governance;
    All these keywords.

    JEL classification:

    • G30 - Financial Economics - - Corporate Finance and Governance - - - General
    • G34 - Financial Economics - - Corporate Finance and Governance - - - Mergers; Acquisitions; Restructuring; Corporate Governance
    • G39 - Financial Economics - - Corporate Finance and Governance - - - Other

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