Original paper
Board gender diversity and dividend payout: The critical mass and the family ties effect
Volume: 79, Pages: 101973 - 101973
Published: Jan 1, 2022
Abstract
We analyse the relationship between female directors and payout policy for a sample of non-financial Spanish listed firms. Based on the critical mass theory, we find an inverted-U shaped relationship. For low levels of female representation in the board, women directors increase dividends in order to reduce agency conflicts, and improve reputation or legitimacy. However, after an inflection point, characteristics traditionally associated to...
Paper Details
Title
Board gender diversity and dividend payout: The critical mass and the family ties effect
Published Date
Jan 1, 2022
Volume
79
Pages
101973 - 101973
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