ŞİRKET YÖNETİM KURULU’NDAKİ KADIN ÜYELERİN FİRMA PERFORMANSINA ETKİSİ

Yıl 2017, Cilt: 18 Sayı: 1, 29 - 45, 08.06.2017

DİLVİN Taşkın PINAR Evrim Mandacı

https://doi.org/10.24889/ifede.297685

Cited By: 5

Öz

 Bu
çalışmada, Türkiye’de şirketlerin yönetim kurulunda yer alan kadın üye
sayısının firmaların performansına etkisi incelenmektedir. Çalışma kapsamında
2008-2015 yılları arasında BIST-100 endeksinde yer alan firmaların yönetim
kurulunda yer alan kadın sayısının firmaların Aktif Karlılığı, Özkaynak
Karlılığı ve Tobin Q oranı ile ölçümlenen performanslarına etkisi
incelenmiştir. Çalışmada yönetim kurulunda ve bağımsız üyeler arasında kadın
üye oranı ile yönetim kurulun büyüklüğü gibi yönetim kurulunun yapısına ilişkin
değişkenler incelenmiştir. Bunların dışında firma karlılığını
etkileyebileceğini düşündüğümüz firmanın büyüklüğü ve borç oranı gibi
değişkenlerde modele katılmıştır. Sektörel farklılıkların da ele alındığı
çalışmada panel regresyon yönteminden yararlanılmıştır. Çalışmadan elde edilen
sonuçlar yönetim kurullarındaki kadın üye oranındaki artışın aktif karlılığı ve
özsermaye karlılığını azalttığı ve Tobin Q değerini ise arttırdığını göstermektedir.
Bunun yanında bağımsız kadın üye oranındaki artışın ise Tobin Q değerini azalttığı
gözlemlenmiştir.

Anahtar Kelimeler

Kadın Yöneticiler, Cinsiyet Çeşitliliği, Yönetim Kurulu, Performans

The Impact of Women on Board of Directors on Firm Performance

Öz

 

This paper analyzes the
impact of number of women on the board of directors in Turkey on the
performance of firms. The data covers the period between 2008-2015 for the
BIST-100 companies and analyze the impact of number of women in the boards to
the performance of companies proxied by return on assets, return on equity and
Tobin’s Q ratios. The percentage of women in the board and the percentage of
women among the independent board members and the size of the board are also
scrutinized. Further, other factors which would affect the performance like
firm size and debt ratio are also included in the analysis. The paper adopts a
panel regression model which considers the industrial differences by assigning
dummy variables for each sector. The results of the study show that the
increases in the percentage of women in the boards decreases return on assets
and return on equity but increases Tobin’s Q. On the other hand, the percentage
of women in the independent directors decrease Tobin’s Q.

Anahtar Kelimeler

Women directors, Gender Diversity, Board of Directors, Performance

Kaynakça

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