Governmental and scientific news and insights on investor oriented environmental, social, and governance (ESG) data.

Female CEOs and Core Earnings Quality: New Evidence on the Ethics Versus Risk-Aversion Puzzle

The question of whether females tend to act more ethically or risk-averse compared to males is an interesting ethical puzzle. Using a large sample of US firms over the 1992-2014 period, we investigate the effect that the gender of a Chief Executive Officer (CEO) has on earnings management using classification shifting. We find that the [...]

By |2018-06-28T12:53:59+00:00June 28th, 2018|ESG, Financial, Gender inequality, Risk|0 Comments

The Effects of Board Gender Diversity on a Firm’s Risk Strategies

We study whether board gender diversity (BGD) affects corporate risk strategies. Specifically, we investigate the association between BGD and firms’ reputation risk and financial risk. Using S&P data from 1997 to 2013, we find that BGD is negatively associated with tax avoidance, suggesting firms with gender-diverse boards are more cautious about potential reputation risks associated [...]

By |2017-02-17T13:05:13+00:00February 17th, 2017|Gender inequality, Governance, Risk|0 Comments

The value of human capital and workforce talent

A research report entitled Reporting Human Capital. Illustrating your company's true value has been launched in London by an ad hoc partnership which includes the Chartered Institute of Management Accountants (CIMA). The report has reviewed the practices of UK FTSE 100 companies when it comes to measuring and reporting on human capital issues, notably how [...]

By |2016-11-24T12:14:09+00:00June 2nd, 2016|CSR, Financial, Governance, Law, Risk, Social|0 Comments

IMF: Gender Diversity in Senior Positions and Firm Performance: Evidence from Europe

This paper examines the link between gender diversity in senior corporate positions and financial performance of 2 million companies in Europe. We document a positive association between corporate return on assets and the share of women in senior positions and establish two potential channels through which gender diversity may affect firm performance. The positive correlation [...]

Corporate Governance and the Firm’s Workforce

This paper uses matched employer-employee data to study the effects of corporate governance on the earnings and composition of the firm's workforce. Stronger corporate governance is measured using the passage of shareholder-sponsored proposals to declassify the board of directors. Following vote passage, employee earnings decrease by 12% on average, directionally consistent with previous research. However, [...]

By |2016-06-30T11:49:18+00:00June 2nd, 2016|CSR, Firm Value, Gender inequality, Governance, Social|0 Comments

Do Women and Ethnic Minority Directors Influence Firm Value? Evidence from Post‐Apartheid South Africa

Previous studies on the value relevance of board gender and ethnic diversity have produced mixed results. This paper re‐examines this relationship using hand‐collected data of 245 South African listed firms over the period 2008–2013. We document a positive and significant effect of both board gender and ethnic diversity on firm value. We also find that [...]

By |2016-06-30T11:49:19+00:00June 1st, 2016|Firm Value, Gender inequality, Governance, Social|0 Comments