The Effects of Women on Boards on Financial Performance: Literature Review

Abstract

Corporate governance has become a concept that has increased in importance since the early 2000s. In particular, corporate governance practices have gained importance in increasing competition power. Accounting scandals (Enron, Parmalat, etc.) revealed that corporate governance practices are inadequate. In this study, it was aimed to search the literature about the effect of the number of women’s board members on the financial performance of the operator. The paper was based on internationally indexed journals between 1993 and 2015. As a result of the study, it is seen that besides the studies finding a positive relationship between the number of women’s board members and firm performance, there are studies that determine that female members have a negative effect on firm performance. In the literature, there are writers who suggest that the increase in women's board members will increase the independence of the board and that women's board members will perform better in solving group problem solving and discussions that require discussion and consensus. In contrast, other writers; they argued that conflicts would increase and the decision-making processes would slow down if the number of female members increased within the board of directors.

Keywords

• Corporate Governance,Firm Performance,Women on Board

Kadın Yönetim Kurulu Üye Sayısının Finansal Performans Üzerinde Etkisi: Literatür Taraması

Öz

Kurumsal yönetim 2000’li yılların başından itibaren önemini artıran bir kavram haline gelmiştir. Özellikle rekabet gücünün artırılmasında kurumsal yönetim uygulamaları önem kazanmıştır. Yaşanan muhasebe skandalları (Enron, Parmalat vb.) nedeniyle kurumsal yönetim uygulamalarının yetersiz olduğu ortaya çıkmıştır. Bu çalışmada kadın yönetim kurulu üye sayısının işletmenin finansal performansına etkisine yönelik literatür taraması yapılması amaçlanmıştır. Araştırmada 1993-2015 yılları arasında uluslararası indekslerde taranan dergiler baz alınmıştır. Çalışma sonucunda kadın yönetim kurulu üye sayısı ile firma performansı arasında pozitif bir ilişki bulan çalışmaların yanı sıra kadın üyelerin firma performansına olumsuz etki yaptığını tespit eden çalışmaların olduğu görülmektedir. Literatürde kadın yönetim kurulu üyelerinin artışının yönetim kurulu bağımsızlığını artıracağını ve tartışma ve konsensüs gerektiren grup problem çözme ve karar almada kadın yönetim kurulu üyelerinin daha iyi bir performans göstereceğini öne süren yazarlar bulunmaktadır. Buna karşın diğer yazarlar ise; yönetim kurulu içerisinde kadın üye sayısının yükselmesi durumunda çatışmaların artacağını ve karar alma süreçlerin yavaşlayacağını ileri sürmüşlerdir.

Anahtar Kelimeler

• Kurumsal Yönetim,Firma Performansı,Kadın Yöneticiler

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