Board of Director Diversity and Firm Financial Performance

By Niclas Erhardt, J. Werbel, Charles B. Shrader. 2003

1,893 citations recorded by the source corpus.

Subfields: Accounting, Gender Studies, Organizational Behavior and Human Resource Management

View Paper: https://www.semanticscholar.org/paper/c5659684b4d36601b12c61e5a763dadf1339f652

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Citations in the corpus

Corporate governance and dividend pay-out policy in UK listed SMEs: The effects of corporate board characteristics (2017, positive): “For example, Carter et al. (2003) and Erhardt et al. (2003) report empirical evidence of a statistically positive association between board gender diversity and the performance of US firms.”
Women on corporate boards: key influencers or tokens? (2010, background): “2009), and ultimately, corporate performance (Adams and Ferreira 2009; Carter et al. 2000; Erhardt et al. 2003; Francoeur et al. 2008; Rose 2007; Singh et al. 2001).”
Board Diversity and Corporate Social Responsibility: Empirical Evidence from France (2020, background): “In the same vein, Erhardt et al. (2003) and Carter et al. (2003) find that gender-diverse boards perform better than less diverse ones.”
Does Boardroom Gender Diversity Matter? Evidence from a Transitional Economy (2015, background): “In summary, although both theories suggest that the link between board gender diversity and FP appears to be a real possibility (Carter et al., 2010), the nature of the link remains unclear (Carter et al., 2010; Erhardt et al., 2003; Rose, 2007).”
Women directors, family ownership and earnings management in Malaysia (2016, background): “…overwhelming, empirical evidence from studies in various countries on the effects of female appointments on a firm’s financial performance (often referred to as the “business case”) is mixed (e.g. Erhardt et al., 2003 in the USA; Nguyen and Faff, 2007 in Australia; Smith et al., 2006 in Denmark).”
Age diversity, directors' personal values, and bank performance (2016, background): “3 Increasing attention has been recognized to board diversities by gender (Erhardt et al., 2003; Huang and Kisgen, 2013; Liu et al., 2014; Sila et al., 2016), nationality (Ruigrok et al.”
Maximizing Stakeholders' Interests: An Empirical Analysis of the Stakeholder Approach to Corporate Governance (2014, positive): “Erhardt et al. (2003) 112 large US companies from different production and service sectors Ethnic and gender representation on boards increases firm financial performance (ROA, ROI Carter et al. (2003) 638 US Fortune 1000 firms pertaining to 8 one-digit SIC code industries Presence of women or…”
Corporate governance: the impact of director and board structure, ownership structure and corporate control on the performance of listed companies on the Ghana stock exchange (2016, background): “(e.g. Adams et al. 2009; Campbell and Mínguez-Vera 2008; Farrell and Hersch 2005; Carter et al. 2003; Erhardt et al. 2003).”
Female executives and earnings management (2010, methodology): “Our analysis is further motivated by the recent corporate finance literature that examines how the gender of the firm’s executives and directors affects corporate governance and the firm’s financial performance (see e.g. Carter et al., 2003; Erhardt et al., 2003; Farrell and Hersch, 2005; Rose, 2007”
Ceo gender and firm performance (2013, background): “Also Erhardt, Werbel, and Shrader (2003), based on Fortune 500 firms, find evidence that firms with a higher number of female executives have higher profitability relative to their average sector profitability, and Welbourne (1999, p.2), based on empirical findings, states that the results from…”
Voluntary Disclosure of Corporate Governance Practices by Listed Australian Companies (2005, result): “This measure of performance is consistent with other studies (see Erhardt et al. , 2003, p. 106).”
The Monitoring Role of Female Directors Over Accounting Quality (2017, neutral): “…of female directors with various measures of firm value, risk or performance is generally mixed (Ahern and Dittmar, 2012; Carter et al., 2003, 2010; Erhardt et al., 2003; Gul et al., 2011; Rose, 2007; Sila et al. 2016), with a number of studies indicating that female directors behave differently…”
Gender Diversity in the Boardroom and Firm Performance: What Exactly Constitutes a “Critical Mass?” (2012, neutral): “…of women and performance measure Carter et al. (2003) Dummy (women on the board: yes/no), women’s ratio ROA, Tobin’s Q 638 US Fortune 1000 firms (1997) Positive link (Tobin’s Q) Erhardt et al. (2003) Minorities’ and women’s ratio ROA, ROI 112 US Fortune 1000 firms (1998) Positive link…”