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Determinants of women representation on corporate boards: evidence from Australia

Author

Listed:
  • Ammad Ahmed
  • Helen Higgs
  • Chew Ng
  • Deborah Anne Delaney

Abstract

Purpose - This paper aims to investigate the determinants of women representation on Australian corporate boards under the ASX’s “if not, why not” corporate governance framework. It further aims to improve the study of Geiger and Marlin (2012) by using a theoretically sound two-limit Tobit model to examine the determinants. Design/methodology/approach - This study uses the two-limit Tobit model to examine the determinants of women representation on ASX 500 boards. This approach is used due to the censored nature of the dependent variable. Findings - This study finds that the two-limit Tobit model is an appropriate methodology to accommodate the censored dependent variable. It further finds that firm size, women as chair of boards, corporate governance index, Global Reporting Initiative signatory, debt ratio, average board age, BIG4 auditors, chief executive officer tenure and shareholder concentration are major determinants of women on boards. Research limitations/implications - The use of only ASX 500 companies and the sample years (2011-2014) may limit the generalisation of the findings. Originality/value - This is the first extensive longitudinal Australian study to examine the drivers of women representation on corporate boards. It is also the first of its kind to use the two-limit Tobit model to consider these determinants.

Suggested Citation

  • Ammad Ahmed & Helen Higgs & Chew Ng & Deborah Anne Delaney, 2018. "Determinants of women representation on corporate boards: evidence from Australia," Accounting Research Journal, Emerald Group Publishing Limited, vol. 31(3), pages 326-342, September.
    • Handle: RePEc:eme:arjpps:arj-11-2015-0133
    DOI: 10.1108/ARJ-11-2015-0133
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    Citations

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    Cited by:

    1. Anna Wawryszuk-Misztal, 2021. "Determinants of board diversity policy implementation by companies listed on the Warsaw Stock Exchange," Equilibrium. Quarterly Journal of Economics and Economic Policy, Institute of Economic Research, vol. 16(3), pages 617-637, September.
    2. Kamil K. Nazliben & Luc Renneboog & Emil Uduwalage, 2024. "Corporate governance from colonial Ceylon to post-civil war Sri Lanka," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 28(1), pages 265-335, March.
    3. Ammad Ahmed & Muhammad Atif, 2021. "Board gender composition and debt financing," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 26(2), pages 3075-3092, April.

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