Corporate transparency and performance: what is the role of women in this relationship?

• Autor(a) principal: Freitas, Verivaldo Alves de
• Data de Publicação: 2022
• Outros Autores: Oliveira, Messias Elmiro Gomes Loiola de, Medeiros, Jislene Trindade, De Luca, Márcia Martins Mendes
• Tipo de documento: Artigo
• Idioma: eng
• Título da fonte: Revista Ambiente Contábil
• Texto Completo: https://periodicos.ufrn.br/ambiente/article/view/27709
• topic: Female representation. Board of directors. Corporate transparency. Corporate performance..; Corporate transparency and performance: what is the role of women in this relationship?; Participación femenina. Junta Directiva. Transparencia corporativa. Desempeño empresarial..; Transparencia corporativa y desempeño: ¿cuál es el papel de las mujeres en esta relación?; Participação feminina. Conselho de administração. Transparência corporativa. Desempenho empresarial..; Transparência corporativa e desempenho: qual o papel das mulheres nessa relação?

Purpose: In this study, we investigated the influence of female board membership on the relationship between corporate transparency and performance in Brazilian public firms. Methodology: The sample of this empirical-analytical study included 297 non-financial firms traded on B3 in the period 2015-2019. The data were analyzed with Student’s t test, the Mann-Whitney test and regressions on panel data. Results: Female board representation was small (6.9%). Student’s t test and the Mann-Whitney test showed that firms with female board members and transparency awards did not differ from other firms with regard to economic performance, but market performance was better. In the regression analysis, corporate transparency had no significant impact on performance and, despite the growing acknowledgment in society of the role of women in key corporate positions, the presence of women on the board did not change this association. Thus, our results indicate that the sampled firms did not derive measurable economic benefits from the presence of women on the board of directors. Contribution of the study: The study enriches the debate on female representation in key corporate positions in Brazilian public firms and helps understand the influence of female board membership on the relationship between corporate transparency and economic/market performance.