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Does Gender Diversity on Board Lead to Risk-Taking? Empirical Evidence from Tunisia

Author

Listed:
  • Nadia Loukil

    (ISG - Institut Supérieur de Gestion de Tunis [Tunis] - Université de Tunis)

  • Ouidad Yousfi

    (MRM - Montpellier Research in Management - UM1 - Université Montpellier 1 - UPVM - Université Paul-Valéry - Montpellier 3 - UM2 - Université Montpellier 2 - Sciences et Techniques - UPVD - Université de Perpignan Via Domitia - Groupe Sup de Co Montpellier (GSCM) - Montpellier Business School)

Abstract

It is well documented in economic, psychological and social literatures and the few recent studies in finance that women are more risk averse than men. The current study investigates the influence of board gender-diversity in firm risk taking in a developing market. Using a sample of Tunisian firms during 1997-2010, findings show that more women sitting on the board more is the cash held by the firm. However, we detect no significant relationship between gender-diversity and risk-taking variables when it comes to analyze financing and investing policies' firms, except cash-holding. When we take into account women directors' affiliation, we show that the presence of politically connected women and State officers' women on board increases the cash holding and investment opportunities.

Suggested Citation

  • Nadia Loukil & Ouidad Yousfi, 2013. "Does Gender Diversity on Board Lead to Risk-Taking? Empirical Evidence from Tunisia," Post-Print hal-02015747, HAL.
    • Handle: RePEc:hal:journl:hal-02015747
    DOI: 10.2139/ssrn.2371698
    as

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    1. repec:ipg:wpaper:2014-536 is not listed on IDEAS
    2. repec:ipg:wpaper:2014-517 is not listed on IDEAS
    3. repec:ipg:wpaper:2014-506 is not listed on IDEAS
    4. repec:ipg:wpaper:2014-537 is not listed on IDEAS
    5. repec:ipg:wpaper:2014-501 is not listed on IDEAS
    6. Víctor Alonso Baldrich Mora, 2019. "Mujeres en juntas directivas en Colombia y su efecto sobre el desempeno financiero de las empresas," Documentos CEDE 17140, Universidad de los Andes, Facultad de Economía, CEDE.
    7. Yoshinori Nakagawa & Real Arai & Koji Kotani & Masanobu Nagano & Tatsuyoshi Saijo, 2018. "Is an intergenerational retrospective viewpoint effective in forming policy preferences for financial sustainability in local and national economies? A deliberative experimental approach," Working Papers SDES-2018-6, Kochi University of Technology, School of Economics and Management, revised Sep 2018.
    8. repec:ipg:wpaper:2014-573 is not listed on IDEAS
    9. repec:ipg:wpaper:2014-532 is not listed on IDEAS
    10. María Consuelo Pucheta-Martínez & Inmaculada Bel-Oms & Gustau Olcina-Sempere, 2018. "Female Institutional Directors on Boards and Firm Value," Journal of Business Ethics, Springer, vol. 152(2), pages 343-363, October.

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