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THE ROLE OF WOMEN ON BOARDS ON SUSTAINABILITY: EVIDENCE FROM BORSA ISTANBUL

Year 2024, Volume: 7 Issue: 2, 156 - 170, 01.10.2024
https://doi.org/10.32951/mufider.1503799

Abstract

The influence of female managers on firms is a widely researched topic. The present study examines the influence of women, specifically on the performance of companies. The objective of this study is to examine the influence of women in managerial positions on the governing bodies of non-financial companies listed on Borsa Istanbul, with a particular focus on the areas of sustainability and corporate governance. The study specifically examined non-financial enterprises that are active in Borsa Istanbul. The study employed Logit Regression, which is a type of categorical regression, to evaluate cross-sectional data. The research findings suggested that female managers had a positive and small but significant effect on sustainability and corporate governance.

References

  • Akçay, A. Ö. (2021). Yönetim Kurulu Yapısı Çeşitliliği ve Entelektüel Sermaye Performansı: Borsa İstanbul Firmaları Üzerine Dinamik Panel Veri Analizi. Yüzüncü Yıl Üniversitesi Sosyal Bilimler Enstitüsü Dergisi, 53, 355-380. https://doi.org/10.9775/kvfd.2021.25776
  • Arena, C., Cirillo, A., Mussolino, D., Pulcinelli, I., Saggese, S., & Sarto, F. (2015). Women on board: Evidence from a masculine industry. Corporate Governance, 15(3), 339-356. https://doi.org/10.1108/CG-12-2013-0124
  • Biswas, P. K., Mansi, M., & Pandey, R. (2018). Board composition, sustainability committee and corporate social and environmental performance in Australia. Pacific Accounting Review, 30(4), 517-540. https://doi.org/10.1108/PAR-11-2016-0102
  • Carmo, C., Alves, S., & Quaresma, B. (2022). Women on boards in Portuguese listed companies: Does gender diversity influence financial performance?. Sustainability, 14(10), 6186. https://doi.org/10.3390/su14106186
  • Del Prete, S., & Stefani, M. L. (2021). Women as “gold dust”: Gender diversity in top boards and the performance of Italian banks. Economic Notes, 50(2), e12183. https://doi.org/10.1111/ecno.12183
  • Fan, Y., Jiang, Y., Zhang, X., & Zhou, Y. (2019). Women on boards and bank earnings management: From zero to hero. Journal of Banking & Finance, 107, 105607. https://doi.org/10.1016/j.jbankfin.2019.105607
  • Fauzi, F., & Locke, S. (2012). Board structure, ownership structure and firm performance: A study of New Zealand listed-firms. Asian Academy of Management Journal of Accounting and Finance, 8(2), 43-67. https://doi.org/10.21315/aamjaf2012.8.2.3
  • Gruszczyński, M. (2020). Women on boards and firm performance: A microeconometric search for a connection. Journal of Risk and Financial Management, 13(9), 218. https://doi.org/10.3390/jrfm13090218
  • Horváth, R., & Spirollari, P. (2012). Do the board of directors’ characteristics influence firm’s performance? The US evidence. Prague Economic Papers, 4(2), 470-486. https://doi.org/10.18267/j.pep.430
  • Joecks, J., Pull, K., & Vetter, K. (2013). Gender diversity in the boardroom and firm performance: What exactly constitutes a “critical mass?”. Journal of Business Ethics, 118, 61-72. https://doi.org/10.1007/s10551-012-1553-6
  • Konak, F., & Özkahveci, E. (2021). Yönetim kademesindeki kadınların firma performansına etkisi: BIST kurumsal yönetim endeksi. Kastamonu Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi, 23(2), 6-23. https://doi.org/10.1111/j.1467-8551.2011.00740.x
  • Lückerath-Rovers, M. (2013). Women on boards and firm performance. Journal of Management & Governance, 17, 491-509. https://doi.org/10.1007/s10997-011-9186-1
  • Marquez-Cardenas, V., Gonzalez-Ruiz, J. D., & Duque-Grisales, E. (2022). Board gender diversity and firm performance: Evidence from Latin America. Journal of Sustainable Finance & Investment, 12(3), 785-808. https://doi.org/10.1080/20430795.2021.1909698
  • Martínez, M. D. C. V., & Rambaud, S. C. (2019). Women on corporate boards and firm's financial performance. Women's Studies International Forum, 76, 102251. https://doi.org/10.1016/j.wsif.2019.102251
  • Moreno-Gómez, J., Lafuente, E., & Vaillant, Y. (2018). Gender diversity in the board, women’s leadership and business performance. Gender in Management: An International Journal, 33(2), 104-122. https://doi.org/10.1108/GM-07-2017-0088
  • Oldford, E., Ullah, S., & Hossain, A. T. (2021). A social capital view of women on boards and their impact on firm performance. Managerial Finance, 47(4), 570-592. https://doi.org/10.1108/MF-12-2019-0605
  • Shrader, C. B., Blackburn, V. B., & Iles, P. (1997). Women in management and firm financial performance: An exploratory study. Journal of Managerial Issues, 9(3), 355-372. https://doi.org/10.1016/j.sbspro.2014.07.497
  • Simionescu, L. N., Gherghina, Ş. C., Tawil, H., & Sheikha, Z. (2021). Does board gender diversity affect firm performance? Empirical evidence from Standard & Poor’s 500 Information Technology Sector. Financial Innovation, 7(1), 1-45. https://doi.org/10.1186/s40854-021-00242-3
  • Singh, V., Terjesen, S., & Vinnicombe, S. (2008). Newly appointed directors in the boardroom: How do women and men differ?. European Management Journal, 26(1), 48-58. https://doi.org/10.1016/j.emj.2007.10.002
  • Velte, P. (2016). Women on management board and ESG performance. Journal of Global Responsibility, 7(1), 98-109. https://doi.org/10.1108/JGR-01-2016-0001

SÜRDÜRÜLEBİLİRLİK KURULLARINDA KADININ ROLÜ: BORSA İSTANBUL'DAN KANITLAR

Year 2024, Volume: 7 Issue: 2, 156 - 170, 01.10.2024
https://doi.org/10.32951/mufider.1503799

Abstract

Kadın yöneticilerin işletmeler üzerindeki etkisi yoğun olarak araştırılan bir konudur. Bu çalışma, Borsa İstanbul'da işlem gören finansal olmayan şirketlerin yönetim kurullarında kadın yöneticilerin etkisini sürdürülebilirlik ve kurumsal yönetim özelinde analiz etmeyi amaçlamaktadır. Çalışmada, kategorik regresyon ailesinin bir üyesi olan Logit Regression kullanılarak yatay kesit verileri analiz edilerek Borsa İstanbul'da faaliyet gösteren finansal olmayan şirketlere odaklanılmıştır. Araştırma bulguları, kadın yöneticilerin sürdürülebilirlik ve kurumsal yönetim üzerinde olumlu bir marjinal etkisi olduğunu gösterdi.

References

  • Akçay, A. Ö. (2021). Yönetim Kurulu Yapısı Çeşitliliği ve Entelektüel Sermaye Performansı: Borsa İstanbul Firmaları Üzerine Dinamik Panel Veri Analizi. Yüzüncü Yıl Üniversitesi Sosyal Bilimler Enstitüsü Dergisi, 53, 355-380. https://doi.org/10.9775/kvfd.2021.25776
  • Arena, C., Cirillo, A., Mussolino, D., Pulcinelli, I., Saggese, S., & Sarto, F. (2015). Women on board: Evidence from a masculine industry. Corporate Governance, 15(3), 339-356. https://doi.org/10.1108/CG-12-2013-0124
  • Biswas, P. K., Mansi, M., & Pandey, R. (2018). Board composition, sustainability committee and corporate social and environmental performance in Australia. Pacific Accounting Review, 30(4), 517-540. https://doi.org/10.1108/PAR-11-2016-0102
  • Carmo, C., Alves, S., & Quaresma, B. (2022). Women on boards in Portuguese listed companies: Does gender diversity influence financial performance?. Sustainability, 14(10), 6186. https://doi.org/10.3390/su14106186
  • Del Prete, S., & Stefani, M. L. (2021). Women as “gold dust”: Gender diversity in top boards and the performance of Italian banks. Economic Notes, 50(2), e12183. https://doi.org/10.1111/ecno.12183
  • Fan, Y., Jiang, Y., Zhang, X., & Zhou, Y. (2019). Women on boards and bank earnings management: From zero to hero. Journal of Banking & Finance, 107, 105607. https://doi.org/10.1016/j.jbankfin.2019.105607
  • Fauzi, F., & Locke, S. (2012). Board structure, ownership structure and firm performance: A study of New Zealand listed-firms. Asian Academy of Management Journal of Accounting and Finance, 8(2), 43-67. https://doi.org/10.21315/aamjaf2012.8.2.3
  • Gruszczyński, M. (2020). Women on boards and firm performance: A microeconometric search for a connection. Journal of Risk and Financial Management, 13(9), 218. https://doi.org/10.3390/jrfm13090218
  • Horváth, R., & Spirollari, P. (2012). Do the board of directors’ characteristics influence firm’s performance? The US evidence. Prague Economic Papers, 4(2), 470-486. https://doi.org/10.18267/j.pep.430
  • Joecks, J., Pull, K., & Vetter, K. (2013). Gender diversity in the boardroom and firm performance: What exactly constitutes a “critical mass?”. Journal of Business Ethics, 118, 61-72. https://doi.org/10.1007/s10551-012-1553-6
  • Konak, F., & Özkahveci, E. (2021). Yönetim kademesindeki kadınların firma performansına etkisi: BIST kurumsal yönetim endeksi. Kastamonu Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi, 23(2), 6-23. https://doi.org/10.1111/j.1467-8551.2011.00740.x
  • Lückerath-Rovers, M. (2013). Women on boards and firm performance. Journal of Management & Governance, 17, 491-509. https://doi.org/10.1007/s10997-011-9186-1
  • Marquez-Cardenas, V., Gonzalez-Ruiz, J. D., & Duque-Grisales, E. (2022). Board gender diversity and firm performance: Evidence from Latin America. Journal of Sustainable Finance & Investment, 12(3), 785-808. https://doi.org/10.1080/20430795.2021.1909698
  • Martínez, M. D. C. V., & Rambaud, S. C. (2019). Women on corporate boards and firm's financial performance. Women's Studies International Forum, 76, 102251. https://doi.org/10.1016/j.wsif.2019.102251
  • Moreno-Gómez, J., Lafuente, E., & Vaillant, Y. (2018). Gender diversity in the board, women’s leadership and business performance. Gender in Management: An International Journal, 33(2), 104-122. https://doi.org/10.1108/GM-07-2017-0088
  • Oldford, E., Ullah, S., & Hossain, A. T. (2021). A social capital view of women on boards and their impact on firm performance. Managerial Finance, 47(4), 570-592. https://doi.org/10.1108/MF-12-2019-0605
  • Shrader, C. B., Blackburn, V. B., & Iles, P. (1997). Women in management and firm financial performance: An exploratory study. Journal of Managerial Issues, 9(3), 355-372. https://doi.org/10.1016/j.sbspro.2014.07.497
  • Simionescu, L. N., Gherghina, Ş. C., Tawil, H., & Sheikha, Z. (2021). Does board gender diversity affect firm performance? Empirical evidence from Standard & Poor’s 500 Information Technology Sector. Financial Innovation, 7(1), 1-45. https://doi.org/10.1186/s40854-021-00242-3
  • Singh, V., Terjesen, S., & Vinnicombe, S. (2008). Newly appointed directors in the boardroom: How do women and men differ?. European Management Journal, 26(1), 48-58. https://doi.org/10.1016/j.emj.2007.10.002
  • Velte, P. (2016). Women on management board and ESG performance. Journal of Global Responsibility, 7(1), 98-109. https://doi.org/10.1108/JGR-01-2016-0001
There are 20 citations in total.

Details

Primary Language English
Subjects Institutional Governance
Journal Section Articles
Authors

Zeynep Öner 0009-0008-4998-0261

Early Pub Date October 1, 2024
Publication Date October 1, 2024
Submission Date June 24, 2024
Acceptance Date August 6, 2024
Published in Issue Year 2024 Volume: 7 Issue: 2

Cite

APA Öner, Z. (2024). THE ROLE OF WOMEN ON BOARDS ON SUSTAINABILITY: EVIDENCE FROM BORSA ISTANBUL. Muhasebe Ve Finans İncelemeleri Dergisi, 7(2), 156-170. https://doi.org/10.32951/mufider.1503799