Does ownership matter? family influence on the relationship between female board expertise and stock price crash risk in Pakistan

Issues of social justice underlie the clamour for greater gender balance in top-management. The present study reveals that pursuit of such social justice is also value-enhancing in relation to the longer-run performance of initial public offerings (IPO) stocks, especially where female board members are unencumbered by family-connection with other directors. This study examines the economic benefits of board gender diversity for state- and privately controlled firms in the Hong Kong IPO market. Gender board diversity is much less common in state-run IPO firms. Within the subset of privately controlled IPO firms, distinction exists between entities that accommodate family-connected board officers and those that do not. Specifically, this study focuses on family-ties between board members. This issue allows for finer-grained assessment of family influence on firm performance. Stronger post-listing stock, return-on-assets and sales-on-assets performance arise in (1) privately controlled firms without family-connected board members and in (2) state-run entities. Gender diversity thus serves as a positive, but only when female director presence is untrammelled by family associations between directors. However, there is little evidence of a link between female board representation and IPO underpricing. Relative to state-backed issuers, privately controlled firm boards accommodate more women, younger officers and a broader mix of nationalities, but appear more-inclined to unify CEO and chair positions. Board duality, the fraction of independent directors and directors’ age and nationality exhibit little relation with initial and aftermarket stock returns. In prescriptive terms, minority investors gain from the inclusion of female directors, especially when IPO firm directors are unencumbered by family-affiliation with other board members. Results therefore add to the clarion of calls for greater female board presence.

The objective of this study is to investigate the mediating effect of female gender representation on the nexus between board expertise and incidence of corporate financial misconduct. The study was anchored on the agency theory and adopted a panel research design. Population of the study was made up of all manufacturing firms listed on the Nigeria Exchange Group (NGX) as at 31st December 2023. Findings of the study show that board expertise significantly reduces the likelihood of financial misconduct while female board representation has no significant positive effect. The joint effect of board expertise and female board representation was positive indicating the inclusion of women on board weakens the positive effect of board expertise on financial misconduct. Ensuing from our findings, we recommend that companies should place emphasis on professional experience and educational qualification rather than gender diversity in appointments to boards.

The primary objective of this research is to investigate the extent to which specific attributes of the board of directors affect Carbon Emission Disclosure (CED) practices within energy firms across Indonesia and Malaysia. The research population comprises all energy companies listed on the Indonesia Stock Exchange and Bursa Malaysia during the period 2022–2024. Using a purposive sampling method, the samples were selected based on specific criteria, primarily the accessibility of sustainability and annual reports and the completeness of the data required for the analysis, resulting in 119 firm-year observations. This study adopts a quantitative approach and employs multiple linear regression to analyze the effects of foreign board members, female board members, board expertise, and board educational background on CED. Data analysis was conducted using SPSS version 24, preceded by descriptive statistics and classical assumption tests. The results indicate that board characteristics jointly have a significant effect on Carbon Emission Disclosure. To some extent, female board members, board expertise, and board educational background have a positive and significant influence on the depth and measurability of carbon emission disclosure. In contrast, the presence of foreign board members shows a positive but insignificant effect on CED. These findings imply that variations in Carbon Emission Disclosure are more strongly driven by board attributes closely related to monitoring capacity and internal reporting processes. This study concludes that strengthening internal board characteristics is crucial for enhancing the quality of Carbon Emission Disclosure in energy-sector companies in Indonesia and Malaysia.

Driving styles among young novice drivers—The contribution of parental driving styles and personal characteristics

The study investigates and compares the determinants of disclosure quality of one-tier and two-tier board structures in selected ASEAN countries. We measure the significance of different corporate governance mechanism of top 50 companies from Malaysia, Indonesia, Thailand, and Singapore from 2011 to 2015. The results of independent sample t test prove that the variances of the disclosure quality scores of one-tier and two-tier board structures are different. In order to avoid problems of omitted variable bias, unobserved heterogeneity and endogeneity, we use the Tobit regression model with random effects. The results confirm that the disclosure quality has a dependence on board size, board expertise, board meetings, board diversity, the timeline for both one-tier and two-tier board structures. The female board members and free cash flows have sole dependence on the one-tier board, whereas board power and block holders have sole dependence on two-tier boards. The study also establishes the relationship between board independence with disclosure quality of board structures.

European board structure and director expertise: The impact of quotas

This study empirically examines female directors and female commissioner’s affects stock price crash risk. This research was conducted on companies listed on the IDX's LQ-45 index in 2019-2021 by applying the fixed effect model (FEM) on GLS regression model. We prove that female board of directors and board of commissioners can reduce the stock price crash risk of the company by using several six control variables, those are return on asset (ROA), Leverage, Market to Book Value Ratio, RET, Sigma, and Size. The female directors and commissioners in this study are represented numerically with the results according to the assumption that the significance in the economic field, especially the risk of falling stock prices in companies, is a company that has a board of directors and a board of commissioners of women in its positions.