IDEAS home Printed from https://ideas.repec.org/a/eee/riibaf/v74y2025ics0275531924004574.html
   My bibliography  Save this article

Board gender diversity, CEO power and LGBTQ-supportive corporate policies

Author

Listed:
  • Brahma, Sanjukta
  • Boateng, Agyenim

Abstract

This study investigates the effect of two key corporate governance mechanisms, board gender diversity, chief executive officer (CEO) power, and their interactions on firms’ implementation of lesbian, gay, bisexual, transgender, and queer (LGBTQ)-supportive policies. Using 348 Fortune 500 firms from 2003–2023, our study reveals that the presence of three or more female directors on the board is positively associated with LGBTQ-supportive policies. We also find that CEO formal (informal) power has a positive (negative) impact on LGBTQ-supportive policies. Lastly, we document that whereas the effects of the interactions of CEO formal power with both the gender diversity measures are positive, the interactions between CEO informal power and gender diversity measures: critical mass and token are positive and negative respectively. Overall, the results suggest that CEO power could act as a double-edged sword, and a high female director representation reduces the negative effect of CEO informal power on LGBTQ-supportive policy implementations.

Suggested Citation

  • Brahma, Sanjukta & Boateng, Agyenim, 2025. "Board gender diversity, CEO power and LGBTQ-supportive corporate policies," Research in International Business and Finance, Elsevier, vol. 74(C).
  • Handle: RePEc:eee:riibaf:v:74:y:2025:i:c:s0275531924004574
    DOI: 10.1016/j.ribaf.2024.102664
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0275531924004574
    Download Restriction: Full text for ScienceDirect subscribers only

    File URL: https://libkey.io/10.1016/j.ribaf.2024.102664?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    More about this item

    Keywords

    LGBTQ-supportive; Board gender diversity; CEO power; Leadership; Top management;
    All these keywords.

    JEL classification:

    • G34 - Financial Economics - - Corporate Finance and Governance - - - Mergers; Acquisitions; Restructuring; Corporate Governance
    • J10 - Labor and Demographic Economics - - Demographic Economics - - - General
    • M14 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Corporate Culture; Diversity; Social Responsibility

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:riibaf:v:74:y:2025:i:c:s0275531924004574. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/locate/ribaf .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.