Investor reactions to board changes: does gender matter?

被引：0

作者：

Sanford, Anthony ^{[1
,3
]}

Tremblay-Boire, Joannie ^{[2
]}

机构：

[1] HEC Montreal, Dept Finance, Montreal, PQ, Canada

[2] Univ Maryland, Sch Publ Policy, College Pk, MD USA

[3] HEC Montreal, Dept Finance, 3000 Chemin Cote Ste Catherine, Montreal, PQ H3T 2A7, Canada

来源：

APPLIED ECONOMICS LETTERS | 2025年 / 32卷 / 05期

关键词：

Asset pricing; gender; stock performance; event study; information shocks; STOCK RETURNS; WOMEN;

D O I：

10.1080/13504851.2023.2288024

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

Using event studies, we estimate investor reactions to board of directors composition. Specifically, we study whether the gender of incoming board members matters to investors. Scholarly evidence indicates that women and men in leadership positions are alike. Yet, the number of women in leadership in the United States is low. Based on BoardEx data on the composition of U.S. public firm boards for 1992-2017, we find that, in the very short term, incoming female board members are consistently perceived as a larger negative information shock by investors than incoming male board members.

引用

页码：693 / 696

页数：4

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