Abstract
We investigate the relation between the CEO gender and the performance of banks operating in the EMEA countries. There is a long debate about the risk adversity of the females sitting on the board of directors and the consequences this behavior leads to in terms of financial performance. We estimate a dynamic model from a panel of 101 EMEA banks over the period 2000–2016 by using the generalized method of moments. Our findings of a positive relation between a female CEO and the bank performance are supported by well known statistical tests.
This is a preview of subscription content, log in via an institution to check access.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
References
Adams, R., Ferreira, D.: Women in the boardroom and their impact on governance and performance. J. Financ. Econ. 94, 291–309 (2009)
Adams, R.B., Funk, P.: Beyond the glass ceiling: does gender matter? Manag. Sci. 58(2), 219–235 (2012)
Adams, R.B., Mehran, H.: Bank board structure and performance. Evidence for large holding companies. J. Financ. Intermediation 21, 243–267 (2012)
Arellano, M., Bond, S.: Some tests of specification for panel data: Monte Carlo evidence and an application to employment equations. Rev. Econ. Stud. 58(2), 277–297 (1991)
Arellano, M., Bover, O.: Another look at the instrumental variable estimation of error-components models. J. Econ. 68, 29–51 (1995)
Bass, B.M., Avolio, B.J.: Developing transformational leadership: 1992 and beyond. J. Eur. Ind. Train. 14(5), 21–27 (1990)
Broadbridge, A., Simpson, R.: 25 years on: Reflecting on the past and looking on the future in gender and management research. Br. J. Manag. 22(3), 470–483 (2011)
Blundell, R., Bond, S.: Initial conditions and moment restrictions in dynamic panel data models. J. Econ. 87, 115–143 (1998)
Erhardt, N.L., Werbel, J.D., Shrader, C.B.: Board of director diversity and firm financial performance. Corp. Gov.: Int. Rev. 11(2), 102–111 (2003)
Farag, H., Mallin, C.: The influence of CEO demographic characteristics on corporate risk-taking: evidence from Chinese IPOs. Eur. J. Finance (2016). https://doi.org/10.1080/1351847X.2016.1151454
Farag, H., Mallin, C.: Board diversity and financial fragility: evidence from European banks. Int. Rev. Financ. Anal. 49, 98–112 (2017)
Mateos de Cabo, R.M., Gimeno, R., Nieto, M.J.: Gender diversity on European Banks’ board of directors. J. Bus. Ethics 109, 145–162 (2012)
Miller, T., Triana, M.: Demographic diversity in the boardroom: mediators of the board diversity-firm performance relationship. J. Manag. Stud 46, 755–786 (2009)
Sila, V., Gonzalez, A., Hagendorff, J.: Women on board: does boardroom gender diversity affect firm risk? J. Corp. Finance 36, 26–53 (2016)
Author information
Authors and Affiliations
Corresponding author
Editor information
Editors and Affiliations
Rights and permissions
Copyright information
© 2020 Springer Nature Switzerland AG
About this paper
Cite this paper
Fensore, S. (2020). CEO Gender and Financial Performance: Empirical Evidence of Women on Board from EMEA Banks. In: Bucciarelli, E., Chen, SH., Corchado, J. (eds) Decision Economics: Complexity of Decisions and Decisions for Complexity. DECON 2019. Advances in Intelligent Systems and Computing, vol 1009. Springer, Cham. https://doi.org/10.1007/978-3-030-38227-8_10
Download citation
DOI: https://doi.org/10.1007/978-3-030-38227-8_10
Published:
Publisher Name: Springer, Cham
Print ISBN: 978-3-030-38226-1
Online ISBN: 978-3-030-38227-8
eBook Packages: Intelligent Technologies and RoboticsIntelligent Technologies and Robotics (R0)