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Strategic Management Journal Vol. 37 No. 3 2016

Does having women on boards create value? The impact of societal perceptions and corporate governance in emerging markets

Shamsul Nahar Abdullah1; Ku Nor Izah Ku Ismail2; Lilac Nachum3

1 Department of Accounting, Kulliyyah of Economics and Management Sciences, International Islamic University Malaysia Kuala Lumpur Malaysia · 2 Department of Accounting, College of Business, Universiti Utara Malaysia Kedah Malaysia · 3 IB Department, Baruch College, City University New York New York U.S.A.

Abstract

Many governments seek to impose gender equality on boards, but the consequences of doing so are not clear and could harm firms and economies. We shed light on this topic by conceptualizing the relationships as firm‐ and board‐specific and embedded within specific contexts. The theory is developed with reference to emerging markets, and tested on M alaysian firms. We find that female directors create value for some firms and decrease it for others. The impact varies across different performance indicators, firms' ownership, and boards' structure. The findings call for nuanced responses in relation to women's nominations from both governments and firms .

DOI
10.1002/smj.2352
Volume
37
Issue
3
Pages
466-476
Language
en
Sources
openalex bibtex:phds-export.bib crossref

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