Women in the Boardrooms of FTSE 250 Companies and Their Impact on Firm Performance

Kingham, Ashley (2015) Women in the Boardrooms of FTSE 250 Companies and Their Impact on Firm Performance. [Dissertation (University of Nottingham only)]

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The purpose of this study was to examine whether there is a relationship between the amount of female directors on the boards of FTSE 250 companies and the observed companies’ performance. Previous researchers have had mixed results and differing opinions on the effects of this relationship, with papers finding positive and negative relationships, there are also several notable papers finding no relationship at all between these two factors.

This study was carried out using data from 2011, 2012 and 2013 but not from 2014 as appropriate information was difficult to source for this year. The data for this piece of research was obtained from Thompson Reuters Datastream and included the companies’ return on equity, return on assets and the percentage of women on the board as the two separate dependent variables for each regression analysis and the independent variable. Data also collected and analysed included the market values, the size of the board’s and percentages of independent board members, which were used as control variables. In order to test the relationship, this study makes use of two fixed effects panel data regression analyses, one with the dependent variable being return on equity and the other return on assets.

The results of this particular piece of research, like Shrader et.al (1997) and Carter, D’Souza, Simkins and Simpson (2010) before it, do not support the business case for gender diversity. Both regression analyses produced insignificant results and as such it was not possible to reject the null hypothesis; “there is no Relationship between firm performance and diversity on corporate Boards in terms of the percentage of females”.

Item Type: Dissertation (University of Nottingham only)
Depositing User: Kingham, Ashley
Date Deposited: 23 Mar 2016 14:50
Last Modified: 24 Oct 2016 17:07
URI: http://eprints.nottingham.ac.uk/id/eprint/29983

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