تأثیرات حضور زنان در هیئت مدیره بر ارزش شرکت و عملکرد مالی
الموضوعات :
1 - استادیار حسابداری دانشگاه تربیت مدرس
2 - کارشناسی ارشد حسابداری دانشگاه تربیت مدرس
الکلمات المفتاحية: عملکرد مالی, ارزش شرکت, هیئت مدیره, تنوع جنسیتی,
ملخص المقالة :
این مقاله در پی پاسخ به این سؤال است که آیا زنان در هیئت مدیره منافع اقتصادی برای شرکت به ارمغان می‌آورند. به منظور روشن شدن این مسئله، این پژوهش به بررسی اثرات مستقیم و غیرمستقیم زنان در هیئت مدیره بر ارزش شرکت پرداخته است. با استفاده از یک مدل رگرسیونی چند متغیره اثر زنان در هیئت مدیره بر ارزش شرکت و عملکرد مالی شرکت برآورد شده است. شواهدی مستقیمی به دست نیامد که وجود یک نماینده زن در هیئت مدیره به طور مستقیم بر ارزش شرکت اثر بگذارد. با این حال، اثرات غیرمستقیم یافته شده است، بدین ترتیب که زنان در هیئت مدیره به طور مثبت بر عملکرد مالی (که به‌وسیلۀ بازده دارایی‌ها و فروش اندازه‌گیری شده) اثر می‌گذارند که به طور کلی بیانگر این است که زنان در هیئت مدیره بر عملکرد مالی (که به نوبه خود مرتبط با ارزش شرکت است) اثر می‌گذارند و از این طریق ارزش شرکت را نیز تحت تأثیر خود قرار می‌دهند. This study seeks to answer the question of whether increasing female representation on the board brings economic benefits to the firm. In order to shed light on the issue, this study investigates the direct and indirect effects of women on the board on firm value. Using a simultaneous equation model to estimate the effects of women on the board on firm value and financial performance. there is no evidence that a higher female representation on the board directly affects firm’s value. However, find indirect effects. So that women on the board are positively related with financial performance (measured in terms of return on assets and return on sales), which generally indicates that women on the board on affect performance financing (which in turn is related to the value of the company) and thus they are also affected firm value.
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