Management Characteristics Research Articles

Beyond the glass ceiling: Informal gender-based status hierarchy and corporate misconduct

We use status characteristics theory to hypothesize that status beliefs lead to the formation of an informal gender-based status hierarchy on corporate boards. After controlling for several characteristics of directors, we discover that the status ranking of female directors is remarkably 19.58% of one position lower than that of male directors on boards. We investigate how female director status ranking affects board decisions, particularly corporate ethical behaviors. We specifically argue that female director status ranking is negatively associated with corporate misconduct, such that the likelihood of misconduct is lower when female gender status is positively viewed on boards. Furthermore, we argue that the effect of informal female director status ranking is contingent on three factors: the presence of a female board chair, good governance mechanisms, and Confucian culture. Using a large firm–year (18,266) and director–year (285,229) sample of Chinese firms during 2008–2019, we find support for our theoretical predictions.

Exploring the role of board-level corporate social responsibility committees in corporate social responsibility performance: A configurational approach

Board attributes interrelate with one another and the environment in which they are embedded in forming corporate social responsibility (CSR) performance, resulting in configurations of board attributes. By embracing a configurational approach, this study aims to investigate how the CSR-committee as a board structure interacts within different configurations of director characteristics (female-directors, director’s age, tenure, and experience) and other board structures (non-executive directors, CEO-duality, board-size) in shaping CSR-performance. The results of a fuzzy-set Qualitative Comparative Analysis (fsQCA) of 789 FTSE350 and S&P500 listed companies during a 4-year period (2013–2016) reveals nine board configurations leading to high CSR-performance, six containing the CSR-committee. Three board archetypes were identified. Their formation is shaped on main differences seen amongst them, leading to distinct archetypes: committee-boards, experience-boards, and hybrid-boards. The result of the configurational approach agrees with the argument “one-size” does not fit all, and different boards can achieve the same results via unique configurations.

Earnings Management and Characteristics of Female Directors: The Case of Building Construction Company

Purpose: Financial performance is the main standard in a company. This study aims to analyze the influence of Characteristics of Female Directors which investigates the relationship between the presence of female directors on corporate boards and management earnings, with a special focus on the specific attributes of female directors on financial performance and analyzing earnings management on financial performance. Theoretical framework: Gender Diversity, Director Affiliation, Director Characteristics, female directors and earnings management as independent variables, while financial performance with ROA as the dependent variable. Design/methodology/approach: The control variable are ROE, leverage, directors, block owners, family dummy, and size board. Earnings management is measured by Discretionary Accruals Net Profit - Cash and Cash Equivalents/Total Assets t-1) and financial performance using ROA (Return On Assets). The data used in this research is secondary data. The total population used in this study were 17 building construction sub-sector companies listed on the Indonesia Stock Exchange. The data collection technique in this study was purposive sampling and data were obtained from 8 companies. The analytical method uses the classical assumption test, multiple linear regression test, test the coefficient of determination, and test the hypothesis. Findings: Based on the results of the study it can be concluded that the presence of female directors on company boards is not related to profit management. Similar results were obtained for the percentage of female directors with certain attributes such as busyness, expertise professionals, and audit committee membership. Surprisingly, the results show that there is a negative (positive) relationship between the percentage of affiliated (unaffiliated) female directors with controlling business groups and management profit. Simultaneously significant effect on ROA. Partially, Gender Diversity, Director Affiliation, Director Characteristics, female directors and earnings management each have an effect on ROA. Research, Practical & Social implications: In further research, in order to conduct a broader research with other objects. The research is expected to be used for all companies. Originality/value: The authors declare no potential conflicts of interest with respect to the research, authorship, and publication of this article.

Gender diversity and financial flexibility: Evidence from China

This study investigates the effect of top management teams' gender diversity on financial flexibility, defined as the downward deviation from predicted target leverage. We find that gender diversity positively associates with financial flexibility. Specifically, management teams with high gender diversity tend to carefully consider all possible risk and growth factors in the decision-making process and reserve financing resources for future contingencies, resulting in reduced borrowing and the establishment of flexible financial structures. We further examine whether this gender diversity effect varies with the firm's external operating environment and find its association with financial flexibility is weaker in high industry competition, strong market forces, and strong legal protection. Our results are robust to alternative gender diversity measures, sensitivity analysis of financial flexibility, and endogeneity issues. We also provide evidence that the effect of gender diversity is different from that of female managers in corporate decisions. Our study contributes to the literature on managerial characteristics by showing how gender diversity affects corporate financing decisions. The findings have practical implications for managers, policymakers, and investors by suggesting measures to improve financial flexibility through adequate managerial diversification.

Think manager – Think male or female: exploring the content of gendered stereotypes of the managerial role among undergraduate business students in Ireland over a 10-year period

PurposeUsing Schein’s Descriptive Index (SDI), this paper aims to first examine gender role stereotypes and requisite managerial characteristics among Irish business students over a 10-year period. Then, the paper investigates whether there have been changes in gender role stereotypes during this period and subsequently unpack the reasons behind any changes recorded.Design/methodology/approachIn total, 1,124 students from the same business student population rated men, women and managers in general, using SDI. Data was collected first during the academic year 2008–2009 and again in 2018–2019 to determine stability or change in gender role stereotypes and requisite managerial characteristics. Intraclass correlation coefficients scores were computed to determine the relationship between gender and requisite managerial characteristics and identify differences and similarities between the two samples. To explore the content of gender stereotypes, an examination of the specific descriptive items was conducted by performing a factorial analysis using Duncan’s Multiple Range Test. Finally, the authors adapted the scales developed by Duehr and Bono (2006) to determine whether broad gender stereotypic characteristics with respect to communal and agentic, attributed to men, women and managers, differ by sample.FindingsThe overall findings indicate changes in the extent of gender role stereotyping of the managerial role among the male cohorts studied. The subsequent analysis of the descriptive items identified that the change among the male cohort is due to the levels of agency they perceive women to now possess.Research limitations/implicationsThe authors contribute to the literature on both gendered and managerial stereotypes by showing changes in the pro-male stereotype of the managerial role and contribute to the existing debate on a shift towards a more androgynous view of leadership.Practical implicationsThese findings help understand the content of gender role stereotypes that recent graduates bring with them to their first job post-graduation. The observed changes in the level of agency ascribed to women by their male counterparts could prove to be an important step forward for women’s advancement to managerial positions.Originality/valueThe findings indicate that both male and female cohorts in Sample 2 perceived men and women in general to possess the same levels of communal and agentic traits as their managerial counterparts.

Political Connections and Shareholder Support

AbstractWe study investors’ preferences for corporate political connections in the United States using a novel measure: shareholder votes given to individual directors. We find that, after fully accounting for all firm‐year specific information and a wide range of director characteristics, politically connected directors on average do not obtain significantly greater shareholder support. During our sample period (2010–2020), we observe a diminishing popularity of politically connected directors. Political alignment to the incumbent government matters in the sense that Democrat directors are viewed as valuable to shareholders during the Obama administration. However, during Donald Trump's presidency, a Democrat party affiliation instead turned into a liability. We also find that shareholders have a stronger preference for politically connected directors in heavily regulated industries, suggesting that board members can alleviate regulatory risk. Our study has implications for director selection and the role of political connections in shaping corporate governance practices.

지역 창업기업 투자 활성화를 위한 엔젤투자자 투자결정요인에 관한 연구

This study analyzed the investment decision factors of angel investors from the investor's perspective to promote investment in local startups using the AHP technique. To achieve the purpose of the study, a total of 110 respondents, including angel investors and those in charge of direct and related work related to investment such as venture capital and mother funds, were surveyed, and 47 of them were used for analysis. We differentiated from previous studies by setting the perspectives on investment decisions into resource-based perspective, industrial organization theory perspective, managerial characteristics perspective, business management function perspective, and other perspectives, and derived the factors that affect investment based on these perspectives through AHP analysis.
 The results of analyzing the relative importance of angel investors' investment decision factors for startups are as follows. From the managerial characteristics perspective, technical expertise, experience and performance in the area of managerial characteristics, marketing management function perspective, whether there is an independent distribution network and marketing organization, legal and other factors such as venture company certification, ISO certification, and the possibility of principal recovery, and resource-based perspective, differentiation in the area of products and services, original technology, and R&D capabilities in the area of technology were found to be the priorities of angel investors' investment decisions. As a result, it can be interpreted that a company's resources have a positive effect on its performance. It can be seen that angel investors put more emphasis on managerial characteristics when making investment decisions in startups, and on the contrary, they value the financial part of the company less. This may be due to the fact that start-ups are not able to secure a secure financial position unlike general companies.
 By identifying and analyzing the priorities of angel investors' investment decision factors across groups, this study provides practical implications for understanding investors and helping entrepreneurs to revalidate and strengthen their businesses from an investor's perspective.

Impact of the board of directors’ structure on the company’s financial results

Subject of study — role of corporate governance practices in managing the largest Russian banks. The relevance of the study is due to the fact that decisions affecting financial results of companies depend on socio-demographic characteristics of their decision-makers and technology of these decisions. The Board of Directors is the body that controls the activities of management, and the efficiency of management decisions depends on its structure. The aim of the study is to estimate the influence of socio-demographic characteristics of directors on financial results of banks. In this research the authors use such method as panel regression analysis to estimate the significance of the obtained results. The sample captures the data on 6 largest Russian banks by total assets for the period 2011–2020. As the result, gender board diversity has a positive and statistically significant impact both on ROA and ROE. Meanwhile, the influence of national diversity on ROE is insignificant whereas the effect of this variable on ROA is significant and negative. In addition to board diversity features, business size is also an important determinant of profitability. The negative influence of this indicator should not be understood literally. The largest Russian banks are examined in this article, so the growth in the volume of their assets is associated with a decline in profitability in relative terms. The analysis also reveals that board independence and leverage do not affect profitability. Conclusion confirm a positive influence of board gender diversity on financial performance of Russian banks. Along with that, a negative impact of national diversity and an insignificant impact of board independence refute the results reported by both foreign and Russian authors. Further research on the influence of corporate governance practices on financial performance of Russian companies is required.

Assessing the role of environmental, organisational and Managerial characteristics as antecedents of entrepreneurial orientation

Purpose The aim of this study is to empirically examine the impact of several environmental, organisational and managerial characteristics on entrepreneurial orientation (EO). Design/methodology/approach This study draws on resource-based view theory to construct a quantitative research method. Data were collected by means of a structured questionnaire and analysed by SmartPLS 3 (partial least squares structural equation modelling) software. The sample comprised 185 managers at domestic Israeli companies within various industries. Findings The data analysis shows that market turbulence, technological turbulence and risk-taking tendency have a positive impact on EO, while centralisation has a negative effect on EO, and formalisation does not affect it at all. Originality/value This study emphasises the importance of environmental, organisational and managerial characteristics as capabilities within an organisation and has practical implications for managers with regard to achieving a competitive advantage by promoting their EO.

Managerial characteristics and performance of eurozone mutual funds

AbstractWe investigate the relation between observable managerial characteristics (i.e., gender, age, tenure, professional qualifications, and advanced education) and performance in diversified equity mutual funds domiciled in the eurozone. We find that differences in the fund alphas are statistically significant only in groups based on age, tenure, and professional qualifications (i.e., chartered financial analyst [CFA]). We also find a significant positive relation for age and CFA certification with a fund's risk‐adjusted performance and a significant negative relation for tenure. However, we find no significant effect for gender and advanced education (i.e., master of business administration [MBA]). The differences in risk taking are significantly related only with age and tenure; the former has a negative and the latter a positive relation with risk taking.

The Influence of Independent Director Characteristics on Financial Fraud Based on A-share Listed Companies

Recently, independent directors have attracted the attention of scholars, and the possible impact of their different characteristics has become a hot research topic. The frequent occurrence of financial fraud incidents has stimulated academic circles to think about the corporate fraud. In this context, this article’s sample is the A-shared public company in China for 10 years. By accessing to consult relevant literature, hypotheses are proposed and logistic regression models are established. For a more comprehensive consideration, the study not only considers the effects of the individual characteristic but also builds a comprehensive indicator. It can be seen from the outcomes that independent directors’ comprehensive characteristics and financial fraud are significantly negatively correlated. Female and highly educated independent directors, and those with academic, financial and accounting background play an important role in reducing the company's financial fraud. Based on this, diversification and overall consideration of independent directors cannot be ignored. This is helpful for strengthening corporate governance and reducing financial fraud.

Review of the current state of territorial nature protection in Siberia and Mongolia

The large-area intracontinental territory discussed in the article has similarities of physical-geographical and socio-demographic parameters, as well as the attitude to them as «resource colonies». The Siberian and Mongolian parts differ significantly politically, which affects the institutional and managerial characteristics and the formation of territorial nature protection, which is implemented in the activities of specially protected natural areas. The analysis of the existing systems of protected areas of Siberia and Mongolia, their structure, legislative bases is given. Maps of protected areas have been compiled, demonstrating their distribution in Mongolia and Siberia, based on statistical data as of 2021, previously published author's thematic atlases and field studies for the period 1999-2022. An aspect that brings the systems closer together is shown – the presence and planning of interstate transboundary protected natural territories. The conclusion is made about the existing more effective system of Mongolian protected areas.

Managers’ process thinking skills, dynamic capabilities and performance in export ventures

PurposeThe purpose of this study is to unfold the role of managerial characteristics in developing the dynamic capabilities necessary to serve foreign customers and compete in export market ventures.Design/methodology/approachThe authors test their proposed model using path analysis with data collected from export managers working in 204 small- and medium-sized Turkish exporters operating in various sectors.FindingsThe findings suggest that the positive effect of export managers’ process thinking skills on dynamic capabilities increases when the export managers’ learning and avoid orientations are low and prove orientation is high and export venture experience (duration and scope) increases. In addition, it has been found that export managers’ process thinking skills have an indirect effect on export performance through export venture dynamic capabilities.Originality/valueThis study makes three contributions. First, the authors conceptualize and operationalize dynamic capabilities in the context of exporting. The authors empirically validate export venture dynamic capabilities as a higher-level construct composed of sensing, seizing and reconfiguring elements pertinent to the firm’s export market operations. Second, based on the micro-foundations approach of competitive advantage, the authors study managers’ process thinking skills in exporting firms and how these abilities support dynamic capability development in export ventures. Finally, the authors investigate how the impact of export managers’ process thinking skills on export venture dynamic capabilities is influenced by their goal orientations and certain objective exporter characteristics pertaining to different aspects of export venture experience.

Better with GPs as managers? – Variation in perceptions of feedback messages, goal-clarity and performance across manager´s in Swedish primary care

BackgroundPrimary care in several countries is developing towards team-based and multi-professional care, requiring leadership and management capabilities at the primary care practice level. This article reports findings from a study of primary care managers in Sweden, focusing variation in performance and perceptions of feedback messages and goal-clarity, depending on managers’ professional background.MethodsThe study was designed as a cross-sectional analysis of primary care practice managers’ perceptions combined with registered data on patient-reported performance. Managers perceptions was collected through a survey to all 1 327 primary care practice managers in Sweden. Data about patient-reported performance was collected from the 2021 National Patient Survey in primary care. We used bivariate (Pearson correlation) and multivariate (ordinary least square regression analysis) statistical methods to describe and analyse the possible association between managers’ background, responses to survey statements and patient-reported performance.ResultsBoth GP and non-GP managers had positive perceptions of the quality and support of feedback messages from professional committees focusing medical quality indicators, although managers perceived that the feedback facilitated improvement work to a lower degree. Feedback from the regions as payers scored consistently lower in all dimensions, especially among GP-managers. Results from regression analysis indicate that GP-managers correlate with better patient-reported performance when controlling for selected primary care practice and managerial characteristics. A significant positive relationship with patient-reported performance was also found for female managers, a smaller size of the primary care practice and a good staffing situation of GPs.ConclusionsBoth GP and non-GP managers rated the quality and support of feedback messages from professional committees higher than feedback from regions as payers. Differences in perceptions were especially striking among GP-managers. Patient-reported performance was significantly better in primary care practices managed by GPs and female managers. Variables reflecting structural and organizational, rather than managerial, characteristics contributed with additional explanations behind the variation in patient-reported performance across primary care practices. As we cannot exclude reversed causality, the findings may reflect that GPs are more likely to accept being a manager of a primary care practice with favourable characteristics.

Does CEOs’ green experience affect environmental corporate social responsibility? Evidence from China

This study explores the impact of chief executive officers’ (CEOs) green experience on environmental corporate social responsibility (ECSR) by analyzing the 5373 firm-year observations from China. The result shows that hiring green CEOs increases environmental protection investment (EPI), environmental compliance, and ESG ratings, significantly for firms in non-polluting sectors. Channel analysis shows that CEOs with green-related experience improve their environmental consciousness, which stimulates corporate environmental behavior. The positive effects of green CEOs are more pronounced in firms with high-quality digital transformation and better internal and external governance mechanisms. Our results survive a battery of robustness tests, such as endogeneity concerns, alternative measures, and heterogeneity analysis. Overall, this study provides a theoretical contribution to the study of managerial characteristics and environmental governance based on work experience and educational background in emerging countries.

Physical activity promotion in daycare centres in Germany: study protocol for a cross-sectional survey within the BeweKi study

IntroductionIn Germany, a total of 92.2% of children between the age of 3 and school entry age attend daycare centres. Therefore, daycare centres are a suitable setting to promote physical...

Microfoundations of Knowledge-Based Dynamic Capabilities

Although knowledge-based dynamic capabilities literature argues that dynamic capabilities foster knowledge management activities, it does not explain how such fostering occurs. To answer this question, this study focuses on dynamic managerial capabilities, applying microfoundational analysis at the individual level to improve understanding of organizational phenomena. It focuses on three dimensions of dynamic managerial capabilities: the managerial abilities of sensing, seizing, and transforming; the psychological abilities of intuition and emotion; and the managerial characteristics of human capital, social capital, and cognition. The study makes three contributions. First, it shows that the microfoundations of dynamic capabilities generate knowledge management activities. Second, it demonstrates the link between managers’ psychological abilities (intuition, emotion) and knowledge management activities. Third, it describes the role of sensing, seizing, and transforming in knowledge management activities.

Corporate Governance, Media Coverage, and Corporate Environmental Protection Investment: Empirical Evidence from Listed Companies in China’s High-Pollution Industries

In this study, regarding listed companies of high-pollution industries in China’s A share as the research object and media coverage as the moderator variable, corporate governance data from 2015 to 2019 were selected. Studied the impact of corporate governance and media coverage on corporate environmental protection investment. Corporate governance was divided into four dimensions: shareholding structure, characteristics of the independent directors, characteristics of the board of supervisors, and management characteristics. A multiple regression model and monitoring model were constructed to study the influencing factors of the environmental protection investment behavior of enterprises, and the relationship between relevant variables was empirically tested. The results show the following: (1) The equity structure is expressed by the degree of separation of cash flow rights and shareholders’ control rights. There is a significant negative correlation between shareholding structure and enterprise environmental protection investment. The characteristics of the board of supervisors and management are measured by executive compensation. The characteristics of the board of supervisors have a significant positive impact on an enterprise’s environmental protection investment. Management characteristics have a significant positive impact on enterprise environmental protection investment. (2) Media coverage as a moderator variable is measured by the data reported by important Chinese newspapers. In the robustness test, media coverage is measured by the number of Chinese financial newspaper reports and the number of online media reports. Media coverage positively regulates the relationships among the ownership structure, the characteristics of the board of supervisors, management characteristics, and enterprise environmental protection investment. (3) Positive media reports have a more significant moderating effect than negative media reports.

Who Is Shaping the Future of Academic Urology? A Descriptive Analysis of Residency Program Directors

To characterize the demographics, educational background, and scholarly characteristics of current urology residency program directors (PDs). Urology programs were identified by the listing on the "Accredited US Urology Programs" section of American Urological Association website as of October 2021. Demographics and academic data were collected via publicly available department website and Google search engine. Metrics obtained included years of service as PD from time of appointment, sex, medical school/residency/fellowship, all-time H-index, dual degrees obtained, and professorial ranking. One hundred and forty-seven accredited urological residencies were reviewed; every PD was included. The majority were male (78%) and fellowship trained (68%). Women represented only 22% of PDs. The median active time served as PD, as of 11/2021, was 4years (IQR: 2-7). Forty (28%) were faculty at the same program they completed their residency. The median all-time H-index was 12 (IQR: 7-19; range 1-61). Twelve PDs also served as chair of their department. The vast majority of PDs are male, fellowship trained, and have served for less than 5years. Future studies are necessary to follow the trends of representation in leaders of urology residency programs.

Research on the Pertinence Between the Identity Characteristics of Independent Directors and Enterprise Innovation

The independent director system has multi aspect influence on enterprises.For public corporations, the connection between the independent director system and the capacity fro innovation of businesses is on of them. Take the state-owned enterprise in Chinese A stock market in Shanghai and Shenzhen from China between 2016 and 2021 as a research sample. This paper uses the basic econometric model to find the correlation between three factors include age, education background and whether independent directors are multiple identities and enterprise innovation through studying enterprise input and output and the number of patents. According to the study, an enterprise's capacity for innovation is favorably correlated with the age of its independent directors. Additionally, the educational experience of independent administrators has a favourable impact on the innovative capacity of an organization. The ability of businesses to innovate is favorably correlated with the identities of several independent directors.