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Description:Finally, as shown in Table 4 , the univariate meta-regression showed that the weighted effect sizes in individual studies outcome were not dependent on the mean board size predictor. Discussion The main finding of the current study, based on data from 20 studies 34 effect sizes published only in peer-reviewed academic journals, is that the relationship between the percentage of female directors on corporate boards and firm financial performance is consistently small and non-significant. The general magnitude of this result is in line with findings of Post and Byron [ 4 ], who, based on data from published and unpublished studies, also found a small correlation between gender diversity on corporate boards and firm financial performance. This is especially noteworthy, because both meta-analyses are based on different study samples and different operationalizations of the main measures female representation and firm performance , providing further evidence to conclude that female representation and firm performance are not strongly associated. Interestingly, the two meta-analyses differ in that Post and Byron [ 4 ] find a statistically significant correlation between increased gender diversity on corporate boards and higher accounting returns. But concluding that a higher female representation on corporate boards has practical implications for the generation of profits from assets and investments seems debatable due to the overall small effect size.

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Views: 1520 Date: 2018-07-25 Favorited: 89 favorites

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