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Female directorship and ethical corporate governance disclosure practices in highly patriarchal contexts

Geofry Areneke Orcid Logo, Emmanuel Adegbite, Tunyi Tunyi Abongeh, Tanveer Hussain

Journal of Business Research, Volume: 164, Start page: 114028

Swansea University Author: Tunyi Tunyi Abongeh

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DOI (Published version): 10.1016/j.jbusres.2023.114028

Abstract

We examine whether and to what extent female directors impact on ethical CG disclosure practices in a highly patriarchal sub-Saharan African country—Nigeria. Using hand-collected data for 108 listed firms from 2011 to 2017 (756 firm-year observations) and employing a system GMM model to control for...

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Published in: Journal of Business Research
ISSN: 0148-2963 1873-7978
Published: Elsevier BV 2023
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URI: https://cronfa.swan.ac.uk/Record/cronfa65106
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Abstract: We examine whether and to what extent female directors impact on ethical CG disclosure practices in a highly patriarchal sub-Saharan African country—Nigeria. Using hand-collected data for 108 listed firms from 2011 to 2017 (756 firm-year observations) and employing a system GMM model to control for endogeneity, we show that female directorship is positively and significantly associated with ethical CG disclosures. Our evidence suggests that, even within patriarchal societies where women face negative preconceptions and stereotypes about their leadership capabilities, firms with female directors disclose higher ethical CG practices than firms without such representation. Furthermore, the effectiveness of female directors in influencing ethical CG practices is positively enhanced by foreign directors and institutional shareholders but weakened in larger boardrooms. We also evidence that in firm-level configuration of CG bundle, female directorship is a substitute mechanism for leadership duality, larger boards, non-executive and foreign directorship.
Keywords: Female directorship, Ethical corporate governance disclosure, Foreign directorship, Institutional shareholding, Board size
College: Faculty of Humanities and Social Sciences
Start Page: 114028

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