Greater Gender Diversity Research Articles

How Do Socially Responsible Investment Funds Go Green? The Influence of Investment Styles and managers' Experience

ABSTRACTWe provide an holdings‐based analysis of socially responsible investment (SRI hereafter) funds' greenness and its determinants in Europe over 8 years (2015–22). To this end, a segmentation of SRI funds by greenness degree based on k‐means clustering is developed. Our results reveal that SRI funds' greenness depends on specific investment styles and the salient experience of managers in SRI. We verify that greening an SRI fund implies a higher stock selectivity leading managers to underweight their portfolios with fossil fuel stocks and raise the weight of green stocks once SRI market regulations in Europe have been implemented. Also, we find that active investment styles make SRI funds greener. Moreover, we provide evidence of counteracting experience effects provided that the more (resp. less) the manager is experienced in SRI (resp. mutual fund industry), the greener the fund is. In addition to those experience effects, we detect a gender diversity effect provided that a greater gender diversity in fund management teams contributes to increase SRI funds' greenness. Overall, our findings support the argument that the experience and abilities of fund managers are important factors for investors to consider when they choose SRI funds notably because skilled professionals with more experience in SRI are more likely to adapt to regulatory shifts.

Resistance or motivation? Impact of climate risk on corporate greenwashing: An empirical study of Chinese enterprises

Increasing climate risk (CR) has pushed corporate environmental responsibility into the limelight, requiring a deeper understanding of its impact on corporate environmental behavior. This study examined the impact of CR on corporate greenwashing using data from A-share listed enterprises in China from 2009 to 2022. The findings indicate the following: (1) Augmented CR significantly discourages corporate greenwashing, primarily by improving corporate innovation capabilities; (2) Strong external and internal corporate governance magnifies the inhibitory effect of CR on greenwashing, stimulating authentic environmental actions during crises; (3) The impact of CR on greenwashing is more pronounced in executive teams with greater gender diversity, higher educational levels, shorter tenures, and increased visibility; (4) In the context of CR, greenwashing hinders corporate high-quality development; (5) The impact of CR is particularly notable in state-owned enterprises, enterprises in industries with lower competitive intensity, and enterprises in their maturity or decline stages.

Exploring perceptions of what increased gender diversity might bring to the nursing profession.

To explore university nursing students and academic staff's perceptions of what increased gender diversity might bring to the nursing profession. An exploratory study with students and academic staff from two university nursing schools. Students and staff in two university nursing schools were invited to participate in an anonymous online survey (October-November 2022). The survey focused on gender diversity within nursing and patient care, asking respondents about existing barriers to gender diversity and inviting ideas on increasing gender diversity within nursing. The survey findings helped inform questions, which were used to further explore views and thoughts of gender diversity within nursing through semi-structured one-to-one interviews (January-February 2023). Nearly, two-thirds (64%, n = 69) of survey respondents strongly agreed/agreed that the lack of gender diversity in nursing negatively impacted delivering care to a gender-diverse society. Most (84%, n = 90) strongly agreed/agreed that increased gender diversity within the nursing workforce would positively contribute to nursing. Three-quarters (75%, n = 74) strongly agreed/agreed that working with a more gender-diverse nursing workforce would enrich their experience as a nurse. Three themes emerged from the interview data: shared stereotypes; improved care through knowledge, better relations and the presence of a gender-diverse workforce; a culture of welcome: suggested changes for the future. Most of those who participated in the study believe there are benefits to be gained from greater gender diversity within nursing. This study provides insight into the lack of gender diversity in the nursing environment, highlights how this might impact patient care and suggests actions to make nursing a more inclusive profession. Practical solutions were suggested, including the greater visibility of trans and non-binary persons in advertisement and recruitment campaigns to ensure nursing is viewed as a career choice for "all". Including a space for considered pronouns on university application forms, hospital documentation and name badges. Gender-neutral titles and uniforms should be considered for all nursing staff, and more gender-neutral toilets should be made available for staff and patients in university and hospital settings. This study addressed the lack of gender diversity in nursing and explored what an increase in gender diversity might bring to the nursing profession. The main findings were: (i) Less than a tenth (9%, n = 12) of respondents described their team of colleagues as being "extremely gender diverse". (ii) Most (84%, n = 90) strongly agreed/agreed that increased gender diversity within the nursing workforce would be a positive attribute to nursing. (iii) Three-quarters 75% (n = 74) strongly agreed/agreed that working with a more gender-diverse nursing workforce would enrich their experience as a nurse. (iv) Many stereotypes still exist in nursing and tackling them is important to make the profession more inclusive. (v) A nurse's gender can impact the care they provide. (vi) A more gender-diverse workforce would better reflect the population it serves. (vii) This research will have an impact on the nursing profession globally. The consolidated criteria for reporting qualitative studies (COREQ) was used as a guide throughout data collection and analysis. Every step of the study, including the survey and interview schedule, was co-constructed using an iterative approach with service users, students and staff who had personal experience of gender diversity and were a core part of the study team.

Does Religiosity and LGBTQ Inclusiveness ImpactThe Probability of Financial Statement Manipulation?

Previous research finds that greater gender diversity and inclusion in firms, on boards of directors, and on audit committees, improves the quality of financial reporting, lowers the likelihood of accounting restatements, and decreases the likelihood of financial misconduct. This is the first study to examine whether lesbian, gay, bisexual, transgendered, queer, or questioning (LGBTQ) diversity in companies will also result in higher ethical actions regarding financial statements. With regression analyses, this study examines whether companies’ Corporate Equality Index (CEI) ratings of support for the LGBTQ community, as a measure of diversity, help explain companies’ M-scores or manipulation scores, a measure of accounting-based earnings manipulation. Likewise, we examine if the religiosity of the county where a company is headquartered influences the company’s manipulation score because previous research finds that companies headquartered in more religious areas are less likely to engage in financial misconduct. We conduct OLS and logistic regression analysis with M-score as the dependent variable, and headquarters area religiosity and company CEI ratings as independent variables of interest. Regression results provide little indication that the people's religiosity in the county where a corporate headquarters is located affects the firm’s M-score. However, we find that the higher the CEI rating, the lower the probability of financial statement manipulation as measured by the M-score. This study sheds light on an underexplored aspect of corporate governance and diversity,further reinforcing the notion that diversity benefits companies in many ways, including those tied to governance.

Digitalisation, Growth Vision and Gender Equality Practices in the Machines and Equipment Sector – Does Gender Matter?

This paper explores the nuanced relationship between gender diversity in senior management and key aspects of organizational dynamics in the machines and equipment sector in the Republic of Serbia. The aim is to uncover differences in digitalization, growth strategies and gender equality measures between companies led by women and men. Employing field research methods, specifically utilizing Computer Assisted Telephone Interviewing, the results show that companies led by women have a higher propensity to adopt information and communication technologies, a more optimistic view of their future development over the next five years, greater gender diversity among employees and more robust implementation of gender equality policies compared to companies led exclusively by men. The research findings highlight the significant impact of gender diversity in leadership on business outcomes and show that women-led companies are proactively embracing digitalization, promoting growth optimism and implementing gender equality initiatives. These findings offer valuable insights for business leaders, policymakers and researchers working on initiatives to promote diversity, equality, and technological progress.

Orthopedic Surgery Residency Program Rankings and Gender Diversity.

Background Orthopedic surgery residency programs are some of the least gender-diverse specialty programs in medicine. Despite strong representation at the undergraduate and medical school levels and increased applications to orthopedic surgery residency programs by women, there is still a substantial gender gap at the resident level. This study explores the relationship between the gender diversity of orthopedic surgery residency programs and program rankings. Methodology Program rank, program director gender identity, and gender diversity data were collected for the top 100 programs by reputation in Doximity. Gender diversity was measured as the proportion of female residents in the program and alumni. Results The greatest percentage of women in a program was 33% and the smallest was 3%. After linear regression analysis, we found that there was a statistically significant positive correlation between program rank and the proportion of women. The higher ranked a program was, the greater the proportion of women. There was no significant correlation between program director gender, appointment year, and program rank. Conclusions These results suggest that, although there is still a long way to go before closing the gender gap in orthopedic surgery residency programs, higher-ranked programs are associated with greater gender diversity than their lower-ranked counterparts.

Board gender diversity, firm risk, and the intermediate mechanisms: A meta‐analysis

AbstractResearch questionThe primary focus of this meta‐analysis is to synthesize previously discordant findings on the relationship between board gender diversity (BGD) and different types of firm risk and to explore potential moderating and mediating mechanisms underlying these relationships.Research findingsWe statistically combine the results from 193 studies and find a negative association between BGD and firm risk. Further investigation indicates that different measures of risk lead to systematically different effect sizes. Our meta‐analysis structural equation modeling (MASEM) analysis reveals that BGD's impact on risk operates primarily through the monitoring rather than advising function of the board. Regarding the moderating role of national institutions, we find that several aspects of the national institutional context (e.g., investor protection, gender equality, and national culture) influence the relationship between BGD and different types of risk.Theoretical implicationsOverall, our results suggest that agency theory has more explanatory power than resource dependence theory for understanding the association between BGD and risk, and women's board representation is more likely to reduce downside risk than upside risk. Our moderating effect analysis also highlights interesting avenues for further research on the interplay of BGD and different risks in national environments with varying institutional attributes.Practitioner/policy implicationsOur meta‐analysis offers important practical implications for corporate risk management, suggesting that BGD significantly mitigates downside risks associated with poor corporate transparency without stifling board support for corporate decisions shaping future growth potential. In an era of rising board vulnerability to litigation for insufficient transparency, this study contributes evidence supporting trends toward greater gender diversity.

Relationship between Gender Diversity in Leadership and Corporate Social Responsibility Practices

Purpose: The aim of the study was to assess the relationship between gender diversity in leadership and corporate social responsibility practices. Methodology: This study adopted a desk methodology. A desk study research design is commonly known as secondary data collection. This is basically collecting data from existing resources preferably because of its low cost advantage as compared to a field research. Our current study looked into already published studies and reports as the data was easily accessed through online journals and libraries. Findings: Research examining the relationship between gender diversity in leadership and corporate social responsibility (CSR) practices suggests a significant correlation between the two variables. Numerous studies indicate that companies with greater gender diversity at the leadership level tend to exhibit stronger commitments to CSR initiatives. This correlation can be attributed to various factors, including enhanced decision-making processes, broader perspectives, and increased sensitivity to social and environmental concerns within diverse leadership teams. Additionally, gender-diverse leadership may foster a more inclusive organizational culture that values social responsibility and ethical conduct. Moreover, companies with women in leadership roles often prioritize issues such as diversity, employee well-being, community engagement, and environmental sustainability, which are integral aspects of CSR. Consequently, fostering gender diversity in leadership positions not only promotes gender equality but also contributes to the advancement of CSR objectives, ultimately enhancing organizational reputation, stakeholder trust, and long-term sustainability. Implications to Theory, Practice and Policy: Social identity theory, stakeholder theory and institutional theory may be use to anchor future studies on assessing the relationship between gender diversity in leadership and corporate social responsibility practices. Implement diversity and inclusion programs aimed at increasing the representation of women in leadership positions. Advocate for regulatory frameworks that promote gender diversity in corporate leadership, such as quotas or disclosure requirements.

Do Female CEOs Promote Behavioral Consistency in Firm’s Nonmarket Strategy: The Moderating Effect of Board Gender Diversity

This study explores whether and under what conditions women CEOs engage in behavioral consistency when promoting CSR practices. Specifically, drawing from the social role and behavioral consistency theories, we argue that women’s CEO presence will positively affect CSR consistency. We use two categories to capture the firm’s consistency in CSR practices: inter-domain and temporal consistency. Inter-domain consistency indicates reliability in a firm’s conduct across its various stakeholder groups. Temporal consistency refers to the consistency of a firm’s behavior toward its stakeholders over time. Using 167 unique S&P 500 firms over the 2005-2013 sample period, we found that women CEOs maintain higher temporal and inter-domain consistency than men. Our results also show that women CEO-led firms with greater gender diversity on their boards exhibit higher temporal and inter-domain consistency levels. Our study advances our understanding of how women CEOs use their situational and positional power to improve such equity and consistency.

Can managers’ characteristics explain European bond mutual fund performance?

This study aims to discover whether the characteristics of European bond fund managers affect mutual fund performance and risk. Based on 7,930 fund-year observations, gathered from the Morningstar database for the period 2005–2019, we have compared several performance and risk measures among team-managed and single-managed funds. We have also analysed the impact of gender diversity on fund performance and risk. Our results indicate that funds managed by teams do not exhibit statistically significant differences in performance or risk when compared to single-managed ones. Management teams with greater gender diversity do not significantly impact fund performance or risk in relation to all-male or all-female teams. Overall, our findings indicate that the underrepresentation of women in the fund industry, or gender bias, does not make economic sense.

Breaking Barriers and Shaping Justice—The Transformative Power of Increasing Female Representation in the Supreme Court

The United States Supreme Court, responsible for interpreting the Constitution and shaping legal precedents, historically lacked gender diversity with significant underrepresentation of women. This essay explores the advantages of increasing female presence on the Court, asserting that greater gender diversity can contribute to a fairer and more comprehensive judicial system. Through an examination of relevant legal cases, scholarly research, and comparative examples, this essay highlights the positive impact of female representation, including improved decision-making diverse perspectives, enhanced legitimacy, and increased public confidence in the judiciary.

Board gender diversity and acquisition choices

AbstractWe investigate the influence of gender diversity on the acquisition choices of bidding firms and find that firms with greater gender diversity are more likely to acquire nonlisted targets, use cash as the method of payment, and purchase firms in similar industries. Results show that these preferences are significantly influenced by female directors' financial expertise, target industry experience, mergers and acquisitions (M&A) experience, academic and professional qualifications, and networks. The percentage of female directors on boards is positively correlated with the market response to the announcement of acquisition choices preferred by female directors. Furthermore, bidders improve efficiency and accumulate long‐term value gains through the contributions made by their female directors to these acquisition choices.

Gender Differences in North American and International Otolaryngology Clinical Practice Guideline Authorship: A 17-Year Analysis.

To analyze gender differences in authorship of North American (Canadian and American) and international published otolaryngology-head and neck surgery (OHNS) clinical practice guidelines (CPG) over a 17-year period. Clinical practice guidelines published between 2005 and 2022 were identified through the Canadian Agency for Drugs and Technology in Health (CADTH) search strategy in MEDLINE and EMBASE. Studies were included if they were original studies, published in the English language, and encompassed Canadian, American, or international OHNS clinical practice guidelines. A total of 145 guidelines were identified, encompassing 661 female authors (27.4%) and 1756 male authors (72.7%). Among OHNS authors, women and men accounted for 21.2% and 78.8% of authors, respectively. Women who were involved in guideline authorship were 31.0% less likely to be an otolaryngologist compared to men. There were no gender differences across first or senior author and by subspeciality. Female otolaryngologist representation was the greatest in rhinology (28.3%) and pediatrics (26.7%). American guidelines had the greatest proportion of female authors per guideline (34.1%) and the greatest number of unique female authors (33.2%). Despite the increasing representation of women in OHNS, gender gaps exist with regards to authorship within clinical practice guidelines. Greater gender diversity and transparency is required within guideline authorship to help achieve equitable gender representation and the development of balanced guidelines with a variety of viewpoints.

Neurotology Workforce in the United States: Gender Diversity and Geographic Distribution

The workforce of neurotology has changed with increasing numbers of accredited programs and diverse representation among trainees over the past several decades. This study aims to describe the characteristics, density, and geographic variation of the current neurotology workforce in the United States. Cross-sectional study. American Board of Otolaryngology-Head and Neck Surgery portal and online search. The study cohort included physicians certified in Neurotology by the American Board of Otolaryngology as of 2021 (n = 372). Physician characteristics including years of practice, gender, practice setting, and location were collected. Geographic variation analysis was performed by the state, county, and hospital referral region. Associations between the number of neurotologists per population and socioeconomic characteristics were assessed using multivariable regression analysis. Among 372 neurotologists, 65% practiced in academic settings and 13% were female. The percentage of female neurotologists increased from 0% among neurotologists with ≥30 years of practice to 23% among <10 years of practice. There were no differences in a practice setting by gender. The geographical analysis demonstrated that the average number of neurotologists was 1.1 per 1 million Americans. In a multivariable model, the density of neurotologists was significantly higher within counties with the highest quartiles of college education (β = .6 [95% confidence interval, CI: 0.3-0.8]) and income (β = .3 [95% CI: 0.1-0.6]). The number of board-certified neurotologists has gradually increased and there have been trends toward greater gender diversity. The geographical distribution of neurotology practice was concentrated in counties with higher socioeconomic status as expected given the referral-based nature of the subspecialty. There should be efforts to reach out to low socioeconomic communities to ensure equivalent access to neurotological care.

Gender diversity in firm ownership: Direct and indirect effects on firm-level innovation across 29 emerging economies

Despite recent evidence linking various measures of gender diversity in the firm with firm-level innovation, we know little about the mediating channels underlying this relation. Building on and extending the Upper Echelon and entrepreneurship literature, we address the following question: how, i.e., through which mediating channels does gender diversity in ownership-management gets at the heart of firm innovation? We use cross-sectional survey data collected in a random sampling of 7848 firm owner-managers across 29 emerging economies during 2012–2016 to test our hypotheses. Our findings demonstrate both direct and indirect effects of our focal independent variable. Specifically, firms with greater gender diversity in ownership are more likely to invest in R&D and rely upon external capital, with such differentials explaining sizeable proportions of higher likelihoods of overall innovativeness, as well as technological and non-technological innovation exhibited by their firms. Our post-analytical extensions reveal gender diversity among the workforce and human-resource-management practices that support employees' creativity and learning as additional mediating channels through which gender diversity in ownership likely impacts firm innovation. Furthermore, gender diversity in ownership allows firms from less-advanced emerging economies to catch up in their overall innovativeness with firms from more-advanced emerging economies.

Effect of gender composition of committees

Does having more women on a committee matter? Interestingly, answers to this question are unknown, despite a significant push toward greater gender diversity on committees and boards. This article uncovers the mechanism of if and how committees’ gender diversity impacts its deliberations and decisions. We utilize a unique dataset that matches detailed meeting transcripts of the Federal Reserve’s Federal Open Market Committee (FOMC) spanning over 30 years, with member characteristics and economy-wide conditions, allowing us to effectively compare committees with the same member resources and economy-wide conditions but different gender diversity. We find that deliberations are more thorough and engaged in more gender-balanced committees, wherein both men and women talk more about wider topics in depth. Unlike findings from other studies, women in the FOMC participate as active members, whereby they are more likely to voice formal disagreement and less likely to be dismissed by an interruption. Finally, we find that member resources and the economy-wide conditions explain the committee’s decision, where gender diversity exhibits no explanatory power by and in itself. With the high correlation between gender diversity and member resources, we demonstrate that gender composition affects committees via two channels; deliberation qualities and member resources.

Women leaders and female same-sex groups: The same 2030 Agenda objectives along different roads

Based on a sample of 4,089 multinational companies over the period 2015–2018, this study analyses the role that women leaders play in relation to the implementation of sustainability strategies to achieve the Sustainable Development Goals (SDGs), and whether this role depends on the proportion of female presence in management teams. The results show that the commitment to the 2030 Agenda is higher in companies with a woman as the Chief Executive Officer (CEO) and/or chairperson of the board of directors, as well as greater gender diversity in both, management teams and the monitoring body. However, the incongruity in the phenomenon of female leadership stereotypes hinders the existence of a complementary relationship that reinforces it. We showed that, consistent with the social role theory, prejudices act as barriers to achieve synergic effects among women in different management positions.

The Impact of Sustainability Disclosures on Value of Companies Following Digital Transformation Strategies

Sustainable growth is the key global priority, and environmental, social and governance (ESG) objectives have become the main point of attention in companies’ digital transformation strategies. ESG and digital transformation reinforce each other as they aim to improve efficiency and meet stakeholders inside and outside the company. This is true for telecommunication companies, where disruptive technologies such as artificial intelligence, big data or cloud computing are reshaping the industry. Assessment of the impact of sustainability disclosures on companies’ value is a task of high interest for academics and practitioners from telecommunication companies. ESG disclosure serves as a key channel to inform investors about the efficiency of ESG risk management and control practices of the firm and thus can impact the firm’s financial performance and market value. However, there are numerous controversies in the academic literature on this topic and a lack of research specifically for the telecommunication industry. We closed the research gaps and investigated the impact of ESG disclosure on Tobin-Q of 93 US-listed telecommunication service companies between 2011-2021. We found that aggregated ESG disclosure score positively impacted telecoms’ Tobin-Q. Among individual ESG disclosure pillars, only corporate governance positively influenced Tobin-Q, while the impact of environmental and social pillars was statistically insignificant. We also found that CEO duality significantly and negatively impacted Tobin-Q. The presence of the corporate social responsibility (CSR) committee, greater gender diversity and a higher percentage of independent directors on the board positively affected the value of the telecoms. The result of the study can be applied in developing ESG rating methodologies for telecommunication companies. They can also assist telecom companies’ managers and stakeholders to identify key value drivers of the ESG agenda.

Board gender diversity and the acquisition announcement on Friday: evidence from Spain

PropósitoEste trabajo analiza si la participación de mujeres en el consejo de administración puede influir en el anuncio de adquisición empresarial en un memento de poca atención (viernes) o en otro día de la semana.Diseño/metodología/enfoqueSe analiza una muestra de 252 anuncios de adquisiciones en efectivo realizados por empresas españolas cotizadas en el periodo de 2004 a 2018. Se utiliza el análisis probit.ResultadosLas empresas con mayor porcentaje de mujeres consejeras tienen menos probabilidad de anunciar la adquisición de una empresa cotizada en viernes, evitando así la inatención del inversor. Los resultados sugieren que las mujeres consejeras comunican información de mayor calidad y tienen una mayor preocupación por los inversores.OriginalidadHasta donde sabemos este trabajo es el primero que analiza la influencia de las mujeres consejeras en la publicación de información en viernes y refuerza los estudios sobre la calidad de la información publicada por las empresas cotizadas. El mercado español es el contexto ideal para el estudio de la participación femenina en la toma de decisiones empresariales pues España fue uno de los primeros países en establecer cuotas de género en los consejos de administración.

Female Leadership and Firm Value in an Emerging Economy: A Panel Data Framework

The diversity in a board may impact monitoring and decision-making in a company and thus, may have a bearing on firm value. In view of the importance of the ongoing debate that board gender diversity has generated, our study examines the link between gender diversity on a board and firm value in an emerging economy where women directors have become a mandatory part of the board. We investigate the issue using a panel data framework and a three-stage least squares method while addressing the endogeneity issues. Our data set consists of the top 500 listed companies for five years, that is, from 2015 to 2019. The data analysis shows that Indian boards had 5% female members’ participation in the boardroom in the year 2013, which has increased to 14% in 2019. The empirical analysis shows that the presence and fraction of female directors positively impact performance measures. The study suggests that compliance with regulatory authorities for the inclusion of woman directors has led to greater gender diversity to improve the company’s performance and generate economic gains. When diversity is embraced in its true sense in the corporate boardroom, decision-making by such a diverse team becomes unbeatable. The study advocates that companies need to appoint women on board not only to meet regulatory requirements but also to reap the benefits of gender diversity.