You are not logged in.

Does board gender diversity improve the informativeness of stock prices?

Gul, Ferdinand A., Srinidhi, Bin and Ng, Anthony C. 2011, Does board gender diversity improve the informativeness of stock prices?, Journal of accounting and economics, vol. 51, no. 3, pp. 314-338, doi: 10.1016/j.jacceco.2011.01.005.

Attached Files
Name Description MIMEType Size Downloads

Title Does board gender diversity improve the informativeness of stock prices?
Author(s) Gul, Ferdinand A.
Srinidhi, Bin
Ng, Anthony C.
Journal name Journal of accounting and economics
Volume number 51
Issue number 3
Start page 314
End page 338
Total pages 25
Publisher Elsevier
Place of publication Amsterdam, The Netherlands
Publication date 2011-04-01
ISSN 0165-4101
Keyword(s) Social Sciences
Business, Finance
Economics
Business & Economics
Idiosyncratic volatility
Female director
Diversity
Earnings quality
Governance
Transparency
CORPORATE GOVERNANCE
INSTITUTIONAL INVESTORS
RETURN VARIATION
EQUITY PRICES
EARNINGS
PERFORMANCE
MARKET
TESTS
EXPLANATIONS
ACCRUALS
Summary We show that stock prices of firms with gender-diverse boards reflect more firm-specific information after controlling for corporate governance, earnings quality, institutional ownership and acquisition activity. Further, we show that the relationship is stronger for firms with weak corporate governance suggesting that gender-diverse boards could act as a substitute mechanism for corporate governance that would be otherwise weak. The results are robust to alternative specifications of informativeness and gender diversity and to sensitivity tests controlling for time-invariant firm characteristics and alternative measures of stock price informativeness. We also find that gender diversity improves stock price informativeness through the mechanism of increased public disclosure in large firms and by encouraging private information collection in small firms. © 2011 Elsevier B.V.
Language eng
DOI 10.1016/j.jacceco.2011.01.005
Field of Research 150103 Financial Accounting
1402 Applied Economics
1501 Accounting, Auditing And Accountability
Socio Economic Objective 970115 Expanding Knowledge in Commerce, Management, Tourism and Services
HERDC Research category C1.1 Refereed article in a scholarly journal
Copyright notice ©2011, Elsevier
Persistent URL http://hdl.handle.net/10536/DRO/DU:30080013

Document type: Journal Article
Collection: Department of Accounting
Connect to link resolver
 
Unless expressly stated otherwise, the copyright for items in DRO is owned by the author, with all rights reserved.

Versions
Version Filter Type
Citation counts: TR Web of Science Citation Count  Cited 106 times in TR Web of Science
Scopus Citation Count Cited 127 times in Scopus
Google Scholar Search Google Scholar
Access Statistics: 143 Abstract Views, 1 File Downloads  -  Detailed Statistics
Created: Tue, 08 Dec 2015, 13:24:31 EST

Every reasonable effort has been made to ensure that permission has been obtained for items included in DRO. If you believe that your rights have been infringed by this repository, please contact drosupport@deakin.edu.au.