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Do female directors really add value in Indian firms?

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  • Chauhan, Yogesh
  • Dey, Dipanjan Kumar

Abstract

The study examines the effect of female directors on firm performance for Indian firms, where the domination of family firms and a patriarchal society may reduce the importance of female directors. Our empirical results suggest that the gender diversity does not matter for Indian firms. Our further results support this finding by indicating that female directors face more attendance problems compared to male directors, and are less likely to be appointed in monitoring-related committees. Overall, our results strengthen the tokenism status theory associated with female directors, especially in family-owned firms and in a patriarchal society.

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  • Chauhan, Yogesh & Dey, Dipanjan Kumar, 2017. "Do female directors really add value in Indian firms?," Journal of Multinational Financial Management, Elsevier, vol. 42, pages 24-36.
    • Handle: RePEc:eee:mulfin:v:42-43:y:2017:i::p:24-36
    DOI: 10.1016/j.mulfin.2017.10.005
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    More about this item

    Keywords

    Female director; Gender; Board of directors; Emerging markets; Diversity; Family-owned firms;
    All these keywords.

    JEL classification:

    • G30 - Financial Economics - - Corporate Finance and Governance - - - General
    • G34 - Financial Economics - - Corporate Finance and Governance - - - Mergers; Acquisitions; Restructuring; Corporate Governance
    • J16 - Labor and Demographic Economics - - Demographic Economics - - - Economics of Gender; Non-labor Discrimination

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