Advanced Search
MyIDEAS: Login to save this paper or follow this series

What Types of Company Have Female and Foreign Directors?

Contents:

Author Info

  • Masayuki Morikawa

Abstract

This paper analyzes the determinants of the presence and the number of female and foreign directors among Japanese companies. First, listed and long-established companies, subsidiaries, and unionized companies tend not to have female directors. On the other hand, owner-managed companies are likely to have female directors and chief executive officers (CEOs). Company size and foreign shareholdings do not have significant relationships with the presence of female directors. Second, while some past studies in the United States and European countries find evidence of “tokenism,” whereby female-led companies do not appoint additional females as directors, we do not find such evidence among Japanese companies. Third, while foreign-owned companies and companies engaged in overseas activities tend to have foreign directors, other company characteristics, such as size and listing status, do not have systematic relationships with the presence of foreign directors.

Download Info

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
File URL: https://cama.crawford.anu.edu.au/sites/default/files/publication/cama_crawford_anu_edu_au/2014-06/47_2014_morikawa.pdf
Download Restriction: no

Bibliographic Info

Paper provided by Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University in its series CAMA Working Papers with number 2014-47.

as in new window
Length: 23 pages
Date of creation: Jun 2014
Date of revision:
Handle: RePEc:een:camaaa:2014-47

Contact details of provider:
Postal: Crawford Building, Lennox Crossing, Building #132, Canberra ACT 0200
Phone: +61 2 6125 4705
Fax: +61 2 6125 5448
Email:
Web page: http://cama.crawford.anu.edu.au
More information through EDIRC

Related research

Keywords: female directors; foreign directors; diversity; owner-managed company;

Other versions of this item:

Find related papers by JEL classification:

This paper has been announced in the following NEP Reports:

References

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
as in new window
  1. David A. Matsa & Amalia R. Miller, 2013. "A Female Style in Corporate Leadership? Evidence from Quotas," American Economic Journal: Applied Economics, American Economic Association, American Economic Association, vol. 5(3), pages 136-69, July.
  2. Smith, Nina & Smith, Valdemar & Verner, Mette, 2011. "Why Are So Few Females Promoted into CEO and Vice-President Positions? Danish Empirical Evidence 1997-2007," IZA Discussion Papers 5961, Institute for the Study of Labor (IZA).
  3. David A. Matsa & Amalia R. Miller, 2011. "Chipping Away at the Glass Ceiling: Gender Spillovers in Corporate Leadership," American Economic Review, American Economic Association, American Economic Association, vol. 101(3), pages 635-39, May.
  4. Jordan SIEGEL & KODAMA Naomi, 2011. "Labor Market Gender Disparity and Corporate Performance in Japan," Discussion papers, Research Institute of Economy, Trade and Industry (RIETI) 11075, Research Institute of Economy, Trade and Industry (RIETI).
  5. Coles, Jeffrey L. & Daniel, Naveen D. & Naveen, Lalitha, 2008. "Boards: Does one size fit all," Journal of Financial Economics, Elsevier, Elsevier, vol. 87(2), pages 329-356, February.
  6. Farrell, Kathleen A. & Hersch, Philip L., 2005. "Additions to corporate boards: the effect of gender," Journal of Corporate Finance, Elsevier, Elsevier, vol. 11(1-2), pages 85-106, March.
  7. Yermack, David, 1996. "Higher market valuation of companies with a small board of directors," Journal of Financial Economics, Elsevier, Elsevier, vol. 40(2), pages 185-211, February.
  8. Justin Wolfers, 2006. "Diagnosing Discrimination: Stock Returns and CEO Gender," Journal of the European Economic Association, MIT Press, MIT Press, vol. 4(2-3), pages 531-541, 04-05.
  9. David A. Matsa & Amalia R. Miller, 2014. "Workforce Reductions at Women-Owned Businesses in the United States," Industrial and Labor Relations Review, ILR Review, Cornell University, ILR School, ILR Review, Cornell University, ILR School, vol. 67(2), pages 422-452, April.
  10. Vikas Mehrotra & Randall Morck & Jungwook Shim & Yupana Wiwattanakantang, 2011. "Adoptive Expectations: Rising Sons in Japanese Family Firms," NBER Working Papers 16874, National Bureau of Economic Research, Inc.
  11. Boone, Audra L. & Casares Field, Laura & Karpoff, Jonathan M. & Raheja, Charu G., 2007. "The determinants of corporate board size and composition: An empirical analysis," Journal of Financial Economics, Elsevier, Elsevier, vol. 85(1), pages 66-101, July.
  12. Kawaguchi, Daiji, 2007. "A market test for sex discrimination: Evidence from Japanese firm-level panel data," International Journal of Industrial Organization, Elsevier, Elsevier, vol. 25(3), pages 441-460, June.
  13. Bugeja, Martin & Matolcsy, Zoltan P. & Spiropoulos, Helen, 2012. "Is there a gender gap in CEO compensation?," Journal of Corporate Finance, Elsevier, Elsevier, vol. 18(4), pages 849-859.
  14. Kyoji Fukao & Hyeog Ug Kwon, 2004. "Why Did Japan's TFP Growth Slow Down in the Lost Decade?: An Empirical Analysis Based on Firm-Level Data of Manufacturing Firms," Hi-Stat Discussion Paper Series, Institute of Economic Research, Hitotsubashi University d04-50, Institute of Economic Research, Hitotsubashi University.
  15. Morikawa, Masayuki, 2010. "Labor unions and productivity: An empirical analysis using Japanese firm-level data," Labour Economics, Elsevier, Elsevier, vol. 17(6), pages 1030-1037, December.
  16. Ian Gregory‐Smith & Brian G.M. Main & Charles A. O'Reilly III, 2014. "Appointments, Pay and Performance in UK Boardrooms by Gender," Economic Journal, Royal Economic Society, Royal Economic Society, vol. 124(574), pages F109-F128, 02.
  17. Bell, Linda A., 2005. "Women-Led Firms and the Gender Gap in Top Executive Jobs," IZA Discussion Papers 1689, Institute for the Study of Labor (IZA).
  18. Nishimura, Kiyohiko G. & Nakajima, Takanobu & Kiyota, Kozo, 2005. "Does the natural selection mechanism still work in severe recessions?: Examination of the Japanese economy in the 1990s," Journal of Economic Behavior & Organization, Elsevier, Elsevier, vol. 58(1), pages 53-78, September.
  19. Morikawa, Masayuki, 2013. "Productivity and survival of family firms in Japan," Journal of Economics and Business, Elsevier, Elsevier, vol. 70(C), pages 111-125.
  20. Elkinawy, Susan & Stater, Mark, 2011. "Gender differences in executive compensation: Variation with board gender composition and time," Journal of Economics and Business, Elsevier, Elsevier, vol. 63(1), pages 23-45.
  21. David W. Johnston & Wang-Sheng Lee, 2012. "Climbing the Job Ladder: New Evidence of Gender Inequity," Industrial Relations: A Journal of Economy and Society, Wiley Blackwell, Wiley Blackwell, vol. 51(1), pages 129-151, 01.
  22. Jordan SIEGEL & KODAMA Naomi, 2011. "Labor Market Gender Disparity and Corporate Performance in Japan (Japanese)," Discussion Papers (Japanese), Research Institute of Economy, Trade and Industry (RIETI) 11073, Research Institute of Economy, Trade and Industry (RIETI).
  23. Martin J. Conyon, 2014. "Executive Compensation and Board Governance in US Firms," Economic Journal, Royal Economic Society, Royal Economic Society, vol. 124(574), pages F60-F89, 02.
  24. Oxelheim, Lars & Randoy, Trond, 2003. "The impact of foreign board membership on firm value," Journal of Banking & Finance, Elsevier, Elsevier, vol. 27(12), pages 2369-2392, December.
  25. Saito, Takuji, 2008. "Family firms and firm performance: Evidence from Japan," Journal of the Japanese and International Economies, Elsevier, vol. 22(4), pages 620-646, December.
  26. Elkinawy, Susan & Stater, Mark, 2011. "Gender differences in executive compensation: Variation with board gender composition and time," Journal of Economics and Business, Elsevier, Elsevier, vol. 63(1), pages 23-45, January.
  27. Masulis, Ronald W. & Wang, Cong & Xie, Fei, 2012. "Globalizing the boardroom—The effects of foreign directors on corporate governance and firm performance," Journal of Accounting and Economics, Elsevier, Elsevier, vol. 53(3), pages 527-554.
  28. Adams, Renée B. & Ferreira, Daniel, 2009. "Women in the boardroom and their impact on governance and performance," Journal of Financial Economics, Elsevier, Elsevier, vol. 94(2), pages 291-309, November.
  29. Parrotta, Pierpaolo & Smith, Nina, 2013. "Why So Few Women on Boards of Directors? Empirical Evidence from Danish Companies 1997-2007," IZA Discussion Papers 7678, Institute for the Study of Labor (IZA).
Full references (including those not matched with items on IDEAS)

Citations

Lists

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

Statistics

Access and download statistics

Corrections

When requesting a correction, please mention this item's handle: RePEc:een:camaaa:2014-47. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Cama Admin).

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.