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Women in business leadership and firm performance: a cross-country study
This study investigates the relationship between female board and top management representation and corporate financial performance (measured i.t.o. ROA), and market sentiment (measured i.t.o. Tobin's Q). Three Western nations (the U.S., the U.K. and Germany) and two Asian countries (China and Japan...
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| Format: | Thesis |
| Language: | English |
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Department of Finance and Tax
2021
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| _version_ | 1867613232576856064 |
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| access_status_str | Open Access |
| author | Luo, Jing Ying |
| author2 | Toerien, Francois |
| author_browse | Luo, Jing Ying Toerien, Francois |
| author_facet | Toerien, Francois Luo, Jing Ying |
| author_sort | Luo, Jing Ying |
| collection | Thesis |
| description | This study investigates the relationship between female board and top management representation and corporate financial performance (measured i.t.o. ROA), and market sentiment (measured i.t.o. Tobin's Q). Three Western nations (the U.S., the U.K. and Germany) and two Asian countries (China and Japan), are considered, specifically with the aim of understanding the nature and extent of the relationship in each region individually, andany potential differences under different cultural environments. The study period was 2014- 2019 for the board representation analysis and, due to data constraints, only 2019 for the top management analysis. Random effects panel regression was used in the board level analysis and a multiple regression model was used to study the top management level impact. The results indicate a positive relationship between the performance measures and female representation at both the board and top management levels. However, the relationship is not statistically significant in the case of the board level analysis, but generally statistically significant for the top management analysis. The strength of the mostly positive relationships between female representation and the performance measures is generally stronger for the three Western countries (particularly for the US and the UK) compared to the two Asian countries, which could in part be due to the impact of cultural differences between them. |
| format | Thesis |
| id | oai:open.uct.ac.za:11427/33766 |
| institution | University of Cape Town (South Africa) |
| language | eng |
| last_indexed | 2026-06-10T12:32:52.713Z |
| license_str | Not specified — see source repository |
| provenance_str_mv | Harvested via OAI-PMH from UCTD — University of Cape Town Open Access Repository |
| publishDate | 2021 |
| publishDateRange | 2021 |
| publishDateSort | 2021 |
| publisher | Department of Finance and Tax |
| publisherStr | Department of Finance and Tax |
| record_format | dspace |
| source_str | UCTD — University of Cape Town Open Access Repository |
| spelling | oai:open.uct.ac.za:11427/33766 Women in business leadership and firm performance: a cross-country study Luo, Jing Ying Toerien, Francois finance and tax This study investigates the relationship between female board and top management representation and corporate financial performance (measured i.t.o. ROA), and market sentiment (measured i.t.o. Tobin's Q). Three Western nations (the U.S., the U.K. and Germany) and two Asian countries (China and Japan), are considered, specifically with the aim of understanding the nature and extent of the relationship in each region individually, andany potential differences under different cultural environments. The study period was 2014- 2019 for the board representation analysis and, due to data constraints, only 2019 for the top management analysis. Random effects panel regression was used in the board level analysis and a multiple regression model was used to study the top management level impact. The results indicate a positive relationship between the performance measures and female representation at both the board and top management levels. However, the relationship is not statistically significant in the case of the board level analysis, but generally statistically significant for the top management analysis. The strength of the mostly positive relationships between female representation and the performance measures is generally stronger for the three Western countries (particularly for the US and the UK) compared to the two Asian countries, which could in part be due to the impact of cultural differences between them. 2021-08-13T15:47:18Z 2021-08-13T15:47:18Z 2021 2021-08-13T15:45:24Z Master Thesis Masters MCom http://hdl.handle.net/11427/33766 eng application/pdf Department of Finance and Tax Faculty of Commerce |
| spellingShingle | finance and tax Luo, Jing Ying Women in business leadership and firm performance: a cross-country study |
| thesis_degree_str | Master's |
| title | Women in business leadership and firm performance: a cross-country study |
| title_full | Women in business leadership and firm performance: a cross-country study |
| title_fullStr | Women in business leadership and firm performance: a cross-country study |
| title_full_unstemmed | Women in business leadership and firm performance: a cross-country study |
| title_short | Women in business leadership and firm performance: a cross-country study |
| title_sort | women in business leadership and firm performance a cross country study |
| topic | finance and tax |
| url | http://hdl.handle.net/11427/33766 |
| work_keys_str_mv | AT luojingying womeninbusinessleadershipandfirmperformanceacrosscountrystudy |