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Article Dans Une Revue Finance Research Letters Année : 2021

The effect of board gender diversity on corporate social performance: An instrumental variable quantile regression approach

Résumé

Investigating a sample of firms from the S&P 500 Index (between 2004 and 2015), the paper addresses the relationship between the representation of Women on Corporate Boards (WOCB) and the Corporate Social Performance (CSP). It adopts the instrumental variable quantile regression panel data (IV-QRPD) model, suggested by Powell (2016), to solve endogeneity and heterogeneity issues. The article shows a strong “threshold effect”: the impact of board feminization on CSP is nonlinear and changes along the quantiles of the performance distribution. Highlighting a contextual and multilevel phenomenon, the paper contributes to the CG literature offering main achievements on board's dynamics and inclusiveness.

Dates et versions

hal-04455603 , version 1 (13-02-2024)

Identifiants

Citer

Maria Giuseppina Bruna, Rey Đặng, Aymen Ammari, L'Hocine Houanti. The effect of board gender diversity on corporate social performance: An instrumental variable quantile regression approach. Finance Research Letters, 2021, 40, pp.101734. ⟨10.1016/j.frl.2020.101734⟩. ⟨hal-04455603⟩
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