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Board Gender Diversity and Dividend Policy in Chinese Listed Firms
| Content Provider | SAGE Publishing |
|---|---|
| Author | Ain, Qurat Ul Yuan, Xianghui Javaid, Hafiz Mustansar Zhao, Jinkai Xiang, Li |
| Copyright Year | 2021 |
| Abstract | This study investigates the relationship between gender diversity on the board and dividend payouts in China using a large sample over the period 2003–2017. Our results provide robust and strong evidence showing that gender diversity on the board is positively associated with cash payments of dividends. The empirical outcomes confirm that gender diversity on the board facilitates corporate governance and subsequently promotes dividend payouts. We demonstrate that gender diversity on the board has the greatest effect when the board has critical mass participation (three or more female directors) compared with only their token participation. However, independent female directors increase dividend payouts, while female executive directors do not have a significant impact. Furthermore, we extend the literature on the relationship between dividend payments and government ownership by providing evidence that gender diversity has a higher impact on dividend payouts for state-owned enterprises than non-state-owned enterprises. After controlling the endogeneity problems, our findings are reliable and robust.JEL classifications: G30, G35 |
| Related Links | https://journals.sagepub.com/doi/pdf/10.1177/2158244021997807?download=true |
| ISSN | 21582440 |
| Issue Number | 1 |
| Volume Number | 11 |
| Journal | SAGE Open (SGO) |
| e-ISSN | 21582440 |
| DOI | 10.1177/2158244021997807 |
| Language | English |
| Publisher | Sage Publications CA |
| Publisher Date | 2021-03-03 |
| Publisher Place | Los Angeles |
| Access Restriction | Open |
| Rights Holder | © The Author(s) 2021 |
| Subject Keyword | government ownership female board directors board gender diversity dividend payouts agency problem corporate governance |
| Content Type | Text |
| Resource Type | Article |
| Subject | Arts and Humanities Social Sciences |
