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Gender diversified board’s impact on firm performance and stock volatility : A quantitative study examining Swedish, Danish and Finnish listed firms

Board gender diversity has been on the corporate agenda for several years, despite numerous gender diversity initiatives around the EU-Member States, women remain underrepresented in the boardroom. There is an intense debate and the problem is frequently raised and discussed by politicians, journalists, shareholders and investors. The thesis examines if gender diversity in the boardroom has any significant effects on firm performance and stock volatility based on 318 firm-year observations with firms listed on the Stockholm Stock Exchange, Copenhagen Stock Exchange and Helsinki Stock Exchange from 2013 to 2015. The authors find no significant relationship between gender diversified board and firm performance for the overall sample at any conventional level. However, the authors find a positive and statistically significant relationship between gender diversified board and firm performance for only Swedish firms, measured by Tobin’s q. Furthermore, the empirical findings from the relationship between board gender diversity and stock volatility using 1 272 firm-quarter observations, are statistical significant and shows that firms with high gender diversified board have lower stock volatility compared to firms with low gender diversified board.

Identiferoai:union.ndltd.org:UPSALLA1/oai:DiVA.org:lnu-65902
Date January 2017
CreatorsJohannesson, Gustav, Westport, Martin
PublisherLinnéuniversitetet, Institutionen för ekonomistyrning och logistik (ELO), Linnéuniversitetet, Institutionen för ekonomistyrning och logistik (ELO)
Source SetsDiVA Archive at Upsalla University
LanguageEnglish
Detected LanguageEnglish
TypeStudent thesis, info:eu-repo/semantics/bachelorThesis, text
Formatapplication/pdf
Rightsinfo:eu-repo/semantics/openAccess

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