THE INFLUENCE OF GENDER DIVERSITY ON MARKET VALUE: A COMPARATIVE STUDY BETWEEN EUROPEAN AND LATIN AMERICAN COMPANIES

Autor: Ana Caroline Nascimento, Nágela Bianca do Prado, Márcio Marcelo Belli, Luiz Eduardo Gaio, Angela Christina Lucas
Rok vydání: 2022
Předmět:
Zdroj: Contabilidade Vista & Revista. 33:195-217
ISSN: 0103-734X
Popis: Debates about gender diversity have addressed the influence of women in organisational environments, and their role in increasing economic and non-economic gains. In this sense, the present study aimed to identify how the perception of a company's value is affected by greater equality between men and women in an organisational environment. Based on secondary data from the social axis of the Refinitiv EIKON database, a quantitative study, using multiple linear regression, was conducted on a sample of 2,195 companies from two blocks of countries: Europe and Latin America. For both country blocks, it was found that greater gender equality on a board of directors had a positive correlation with the market value of the company. Additionally, it was found, but only for Latin America, that a policy of wage equality between the genders, as well as gender equality in terms of management, had a positive correlation with the Tobin's Q indicator. The main innovation in this study is the quantitative approach, as most previous research has relied on qualitative interviews and observations to understand adherence to gender diversity in organisations. The results are robust for the econometrics used and provide support on the potential to broaden the discussion on gender equality in the business environment, identifying and quantifying the influence of women on company values. The study opens space for discussion on the importance of gender quotas in companies. Policy used in Europe.
Databáze: OpenAIRE