IDEAS home Printed from https://ideas.repec.org/a/taf/femeco/v20y2014i3p136-162.html
   My bibliography  Save this article

Firm Performance and Women on the Board: Evidence from Spanish Small and Medium-Sized Enterprises

Author

Listed:
  • Juan Francisco Martín-Ugedo
  • Antonio Minguez-Vera

Abstract

This study examines gender diversity on boards of directors in a sample of nonfinancial Spanish small and medium-sized enterprises (SMEs) for 2003-8, finding that the probability of women on the board increases with firm performance, defined as return on assets, and family ownership, but diminishes with corporate ownership and firm risk. It also finds, when examining the full sample, a positive effect of the presence of women board members on firm performance. The study also obtains a similar positive effect in most subsamples, including in firms with corporate ownership, where family connections play less role in the election of board members, and in firms in the secondary and tertiary sectors, which are characterized by having greater proximity to final consumers than those in the primary sector.

Suggested Citation

  • Juan Francisco Martín-Ugedo & Antonio Minguez-Vera, 2014. "Firm Performance and Women on the Board: Evidence from Spanish Small and Medium-Sized Enterprises," Feminist Economics, Taylor & Francis Journals, vol. 20(3), pages 136-162, July.
    • Handle: RePEc:taf:femeco:v:20:y:2014:i:3:p:136-162
    DOI: 10.1080/13545701.2014.895404
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1080/13545701.2014.895404
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1080/13545701.2014.895404?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.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Đặng, Rey & Houanti, L’Hocine & Reddy, Krishna & Simioni, Michel, 2020. "Does board gender diversity influence firm profitability? A control function approach," Economic Modelling, Elsevier, vol. 90(C), pages 168-181.
    2. Anna Wawryszuk-Misztal, 2021. "Determinants of board diversity policy implementation by companies listed on the Warsaw Stock Exchange," Equilibrium. Quarterly Journal of Economics and Economic Policy, Institute of Economic Research, vol. 16(3), pages 617-637, September.
    3. IWASAKI, Ichiro & MA, Xinxin & MIZOBATA, Satoshi, 2024. "Board Gender Diversity in China and Eastern Europe," CEI Working Paper Series 2023-09, Center for Economic Institutions, Institute of Economic Research, Hitotsubashi University.
    4. Benedict Valentine Arulanandam & Christo Selvan & Goh Xin Tong, 2023. "Critical Factors Influencing Firms' Risk-Taking Behaviour: CEO Characteristics and the Moderating Role of the Audit Committee," Central European Business Review, Prague University of Economics and Business, vol. 2023(5), pages 1-41.
    5. Joanna Tyrowicz & Siri Terjesen & Jakub Mazurek, 2017. "All on board? New evidence on board gender diversity from a large panel of firms," GRAPE Working Papers 5, GRAPE Group for Research in Applied Economics.
    6. 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.
    7. Barbara Pistoresi & Erica Poma & Alberto Rinaldi, 2022. "Gender quota on corporate boards in Italy: spillover effects and financial performance," Department of Economics 0208, University of Modena and Reggio E., Faculty of Economics "Marco Biagi".
    8. Saeed, Abubakr & Sameer, Muhammad, 2017. "Impact of board gender diversity on dividend payments: Evidence from some emerging economies," International Business Review, Elsevier, vol. 26(6), pages 1100-1113.
    9. Pilar Giraldez-Puig & Emma Berenguer, 2018. "Family Female Executives and Firm Financial Performance," Sustainability, MDPI, vol. 10(11), pages 1-15, November.
    10. Vladan Pavlovic & Goranka Knezevic & Radica Bojicic, 2023. "Do the Profitability, the Volume of Assets, and Equity of Public Enterprises Have Any Role in Local Authorities' Gender and Age Policy? – A Case Study of Belgrade," Economic Studies journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 2, pages 172-191.
    11. Maria Giuseppina Bruna & Rey Dang & Marie-José Scotto & Aymen Ammari, 2019. "Does board gender diversity affect firm risk-taking? Evidence from the French stock market," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 23(4), pages 915-938, December.
    12. Syed Shafqat Mukarram & Abubakr Saeed & Shawkat Hammoudeh & Muhammad Mustafa Raziq, 2018. "Women on Indian boards and market performance: a role-congruity theory perspective," Asian Business & Management, Palgrave Macmillan, vol. 17(1), pages 4-36, February.
    13. Tien Quang Tran, 2020. "Identifying Female Leadership and Performance in Small and Medium-Sized Enterprises in a Transition Economy: The Case Study of Vietnam," Asian Economic and Financial Review, Asian Economic and Social Society, vol. 10(2), pages 132-145, February.
    14. Rachana Vishwakarma, 2017. "Women on Board and its Impact on Performance: Evidence from Microfinance Sector," Indian Journal of Corporate Governance, , vol. 10(1), pages 58-73, June.
    15. Tomislava Paviæ Kramariæ & Marko Miletiæ, 2022. "The influence of demographic, cultural, and educational background in the boardroom on firm performance – The Croatian evidence," Zbornik radova Ekonomskog fakulteta u Rijeci/Proceedings of Rijeka Faculty of Economics, University of Rijeka, Faculty of Economics and Business, vol. 40(1), pages 79-95.
    16. Saeed, Abubakr & Belghitar, Yacine & Yousaf, Amna, 2016. "Firm-level determinants of gender diversity in the boardrooms: Evidence from some emerging markets," International Business Review, Elsevier, vol. 25(5), pages 1076-1088.
    17. Paolo Saona & Laura Muro & Pablo San Martín & Carlos Cid, 2020. "Ibero-American corporate ownership and boards of directors: implementation and impact on firm value in Chile and Spain," Economic Research-Ekonomska Istraživanja, Taylor & Francis Journals, vol. 33(1), pages 2138-2170, January.

    More about this item

    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:taf:femeco:v:20:y:2014:i:3:p:136-162. 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: Chris Longhurst (email available below). General contact details of provider: http://www.tandfonline.com/RFEC20 .

    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.