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Payout policy, investment efficiency, and corporate performance in the Asia Pacific: does boardroom diversity matter?

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  • Ijaz Ur Rehman

Abstract

This study empirically examines the impact of board gender diversity on corporate performance, payout policy, and investment efficiency using a sample of 1021 firms listed in Asia Pacific markets for 2006-2016. Using fixed effect regression models, the results suggest that having a woman director on the corporate board enhances the investment efficiency and increases the propensity of dividend payout of the firms as compared to companies that do not have a women director. Nevertheless, the presence of a women director has an impact on weakening corporate performance. The results are robust across alternative measures of gender diversity. The study concludes that the presence of a woman director in the boardroom grants company a competitive edge over its competitors.

Suggested Citation

  • Ijaz Ur Rehman, 2022. "Payout policy, investment efficiency, and corporate performance in the Asia Pacific: does boardroom diversity matter?," International Journal of Monetary Economics and Finance, Inderscience Enterprises Ltd, vol. 15(2), pages 95-117.
    • Handle: RePEc:ids:ijmefi:v:15:y:2022:i:2:p:95-117
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