Does gender diversity on corporate boards reduce information aymmetry in equity markets?

  1. David Abad 1
  2. María Encarnación Lucas-Pérez 2
  3. Antonio Minguez-Vera 2
  4. José Yagüe 2
  1. 1 Universitat d'Alacant
    info

    Universitat d'Alacant

    Alicante, España

    ROR https://ror.org/05t8bcz72

  2. 2 Universidad de Murcia
    info

    Universidad de Murcia

    Murcia, España

    ROR https://ror.org/03p3aeb86

Journal:
Business Research Quarterly

ISSN: 2340-9444 2340-9436

Year of publication: 2017

Volume: 20

Issue: 3

Pages: 192-205

Type: Article

DOI: 10.1016/J.BRQ.2017.04.001 DIALNET GOOGLE SCHOLAR lock_openOpen access editor

More publications in: Business Research Quarterly

Sustainable development goals

Abstract

Examinamos la relación entre la diversidad de género en los directorios de las corporaciones y los niveles de asimetría de información en el mercado de valores. La evidencia anterior sugiere que la presencia de mujeres en los consejos de administración aumenta la cantidad y calidad de la divulgación pública por parte de las empresas y, por lo tanto, esperamos que las empresas con mayor diversidad de género en sus consejos muestren niveles más bajos de asimetría de información en el mercado. Utilizando una muestra española, proxies para la asimetría de información estimada a partir de datos de alta frecuencia junto con la metodología del panel del sistema GMM, encontramos que la diversidad de género en los directorios se asocia negativamente con el nivel de asimetría de información en el mercado de valores.

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