[go: up one dir, main page]
More Web Proxy on the site http://driver.im/
IDEAS home Printed from https://ideas.repec.org/a/eee/finana/v96y2024ipas1057521924005039.html
   My bibliography  Save this article

Women in C-suite: Does Top Management Team gender diversity matter? Evidence from firm investment efficiency

Author

Listed:
  • Chowdhury, Md Raihan Uddin
  • Alam, Md Asif Ul
  • Devos, Erik
  • Chy, Md Kamrul Hasan
Abstract
Firms with relatively more female executives in their top management team exhibit superior investment efficiency. Economically, female non-CEO executives increase investment efficiency by almost 11 % of the cross-sectional mean of our investment efficiency measure. Further analysis shows that this increase in efficiency is driven by the reduction in both overinvestment and underinvestment. In addition, efficiency is more pronounced in less competitive markets, during industry shock periods, and in firms with less competent or outsider CEOs. Our findings highlight that women in C-suite play a significant positive role in effective investment decision-making.

Suggested Citation

  • Chowdhury, Md Raihan Uddin & Alam, Md Asif Ul & Devos, Erik & Chy, Md Kamrul Hasan, 2024. "Women in C-suite: Does Top Management Team gender diversity matter? Evidence from firm investment efficiency," International Review of Financial Analysis, Elsevier, vol. 96(PA).
    • Handle: RePEc:eee:finana:v:96:y:2024:i:pa:s1057521924005039
    DOI: 10.1016/j.irfa.2024.103571
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S1057521924005039
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.irfa.2024.103571?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

    Investment efficiency; Female non-CEO executives; Market competition; Industry downturns; Managerial ability;
    All these keywords.

    JEL classification:

    • G30 - Financial Economics - - Corporate Finance and Governance - - - General
    • G31 - Financial Economics - - Corporate Finance and Governance - - - Capital Budgeting; Fixed Investment and Inventory Studies
    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • G34 - Financial Economics - - Corporate Finance and Governance - - - Mergers; Acquisitions; Restructuring; Corporate Governance

    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:finana:v:96:y:2024:i:pa:s1057521924005039. 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/inca/620166 .

    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.