en pl
en pl

Central European Management Journal

Zobacz wydanie
Tom 30 
Numer 4

Current Perspective on Corporate Board Gender Diversity: Evidence from the Czech Republic

Eva Hamplová
University of Hradec Kralove, Czech Republic

Václav Janeček
University of Hradec Kralove, Czech Republic

Frank Lefley
University of Hradec Kralove, Czech Republic

30 (4) Central European Management Journal

DOI 10.7206/cemj.2658-0845.90

Abstrakt

Purpose: This article’s primary purpose is to present and analyze the current state of board gender diversity and elaborate on the relatively sparse literature in this field in the Czech Republic, a post-transition Eastern European economy. The described study sought to identify and comment on the theoretical views concerning previous research in other, mainly Western European countries, by highlighting new perspectives on board gender diversity.

Design/methodology/approach: The study’s empirical analysis was based on 235 companies domiciled in the Czech Republic with 500 or more employees. We followed a selection protocol consisting of several filters in arriving at our final sample. We initially analyzed the data in relation to (a) the number of employees, (b) organization turnover, and (c) industrial classification. We calculated the mean (μ), standard deviation, (σ), and coefficient of variation (CV) of the data/variances, then tested our hypotheses through χ2, determining the significance through the p-value. Finally, we calculated the board diversity index (DI) for female/male board members.

Findings: Our findings showed that the representation of women on corporate boards of Czech Republic companies is well below the European directive target figure of 40%. There is a greater representation of women on supervisory than on statutory boards. Moreover, the research revealed that female directors are more likely to serve on boards of companies in health care, social, wholesale, retail, and administration sectors compared to the construction, manufacturing, transportation, and storage sectors. Furthermore, company turnover also plays a part in board gender diversity. Finally, we highlighted many reasons why the Czech Republic is a fertile ground for the study of board gender diversity.

Practical implications: We believe this article will be valuable to senior managers in industry and wider regulatory, corporate governance, and ethical environments, fostering diversity and equality on corporate boards. This article forms a sound foundation for future studies on board gender diversity in the Czech Republic and contributes to the ongoing discussion on any adoption of possible future quota.

Originality/value: This research presents a rare insight into the current board gender diversity structure in the Czech Republic, especially because the country is relatively under-researched in the corporate governance and gender diversity literature. Thus, the research adds to the theoretical views concerning earlier research undertaken in other, mainly Western European countries, highlighting new perspectives on board gender diversity.

Powiązania

  1. Adams, R. B., & Ferreira. D. (2009). Women in the boardroom and their impact on governance and performance. Journal of Financial Economics, 94(2), 291–309. https://doi.org/10.1016/j.jfineco.2008.10.007 [Google Scholar]
  2. Adams, R. B., and Funk, P. (2012). Beyond the glass ceiling: does gender matter? Management Science, 58(2), 219–235. https://doi.org/10.1287/mnsc.1110.1452 [Google Scholar]
  3. Adams, R. B., de Haan, J., Terjesen, S., & van Ees, H. (2015). Board Diversity: Moving the field forward. Corporate Governance: An International Review, 23(2), 77–82. https://doi.org/10.1111/corg.12106 [Google Scholar]
  4. Ahern, K. R., & Dittmar, A. K. (2012). The changing of the board: The impact on firm valuation of mandated female boards representation. The Quarterly Journal of Economics, 127(1), 137–197. https://doi.org/10.1093/qje/qjr049 [Google Scholar]
  5. Al-Shaer, H., & Zaman, M. (2016). Board gender diversity and sustainability reporting quality. Journal of Contemporary Accounting and Economics, 12(3), 210–222. https://doi.org/10.1016 /j.jcae.2016.09.001 [Google Scholar]
  6. Amin, A., Rehman, R. U., Ali, R., & Ntim, C. G. (2022). Does gender diversity on the board reduce agency cost? Evidence from Pakistan. Gender in Management: An International Journal, 37(2), 164–181. https://doi.org/10.1108/GM-10-2020-0303 [Google Scholar]
  7. Apesteguia, J., Azmat, G., & Iriberri, N. (2012). The Impact of Gender Composition on Team Performance and Decision Making: Evidence from the Field. Management Science, 58(1), 78–93. https://doi.org/10.1287/mnsc.1110.1348 [Google Scholar]
  8. Arena, C., Cirillo, A., Mussolino, D., Pulcinelli, I., Saggese, S. & Sarto, F. (2015). Women on board: evidence from a masculine industry. Corporate Governance: The International Journal of Business in Society, 15(3), 339–356. https://doi.org/10.1108/CG-02-2014-0015 [Google Scholar]
  9. Assenga, M.P., Aly, D. & Hussainey, K. (2018). The impact of board characteristics on the financial performance of Tanzanian firms. Corporate Governance: The International Journal of Business in Society, 18(6), 1089–1106. https://doi.org/10.1108/CG-09-2016-0174 [Google Scholar]
  10. Atif, M., Hossain, M., Alam, M. S., & Goergen, M. (2020). Does board gender diversity affect renewable energy consumption? Journal of Corporate Finance. https://doi.org/10.1016/j.jcorfin.2020.101665 [Google Scholar]
  11. Azmat, G., & Boring, A. (2020). Gender diversity in firms. Oxford Review of Economic Policy, 36(4), 760–782. https://doi.org/10.1093/oxrep/graa043 [Google Scholar]
  12. Bear, S., Rahman, N. & Post, C. (2010). The Impact of Board Diversity and Gender Composition on Corporate Social Responsibility and Firm Reputation. Journal of Business Ethics, 97(2), 207–221. https://doi.org/10.1007/s10551-010-0505-2 [Google Scholar]
  13. Benkraiem, R., Hamrouni, A., Lakhal, F., & Toumi, N. (2017). Board independence, gender diversity and CEO compensation. Corporate Governance: The International Journal of Business in Society, 17(5), 845–860. https://doi.org/10.1108/CG-02-2017-0027 [Google Scholar]
  14. Bernardi, R. A., Bosco, S. M., & Vassill, K. M. (2006). Does female representation on boards of directors associate with Fortune’s “100 best companies to work for” list? Business and Society, 45(2), 235–248. https://doi.org/10.1177/0007650305283332 [Google Scholar]
  15. Bilimoria, D., & Wheeler, J. V. (2000). Women corporate directors: current research and future directions, Chapter 10, in Women in Management: Current Research Issues. Vol. II, 138–163. https://doi.org/10.4135/9781446219775.n10 [Google Scholar]
  16. Böhren, Ő., & Ström, R. Ő. (2010). Governance and politics: Regulating independence and diversity in the board room. Journal of Business Finance and Accounting, 37(9–10), 1281–1308. https://doi.org/10.1111/j.1468-5957.2010.02222.x [Google Scholar]
  17. Brammer, S., Millington, A., & Pavelin, S. (2009). Corporate reputation and women on the board. British Journal of Management, 20(1), 17–29. https://doi.org/10.1111/j.1467-8551.2008.00600.x [Google Scholar]
  18. Camerer, C., Loewenstein, G., & Prelec, D. (2005). Neuroeconomics: How Neuroscience Can Inform Economics. Journal of Economic Literature, 43(1), 9–64. https://doi.org/10.1257/002205 1053737843 [Google Scholar]
  19. Campbell, K., & Minguez-Vera, A. (2008). Gender Diversity in the Boardroom and Firm Financial Performance. Journal of Business Ethics, 83(3), 435–451. https://doi.org/10.1007/s10551-007-9630-y [Google Scholar]
  20. Caputo, F., Leopizzi, R., Pizzi, S., & Milone, V. (2020). The Non-Financial Reporting Harmonization in Europe: Evolutionary Pathways Related to the Transposition of the Directive 95/2014/EU in the Italian Context. Sustainability, 12(92). https://doi.org/10.3390/su12010092 [Google Scholar]
  21. Carter. D. A., D’Souza. F., Simkins. B. J., & Simpson. W. J. (2010). The Gender and Ethnic Diversity of US Boards and Board Committees and Firm Financial Performance. Corporate Governance: An International Review, 18(5), 396–414. https://doi.org/10.1111/j.1467-8683.2010.00809.x [Google Scholar]
  22. Carter, D. A., Simkins, B. J., & Simpson, W. G. (2003). Corporate governance, board diversity, and firm value. The Financial Review, 38(1), 33–53. https://doi.org/10.1111/1540-6288.00034 [Google Scholar]
  23. Chandler, A. (2016). Women on Corporate Boards: A Comparison of Parliamentary Discourse in the United Kingdom and France. Politics and Gender, 12(3), 443–468. https://doi.org/10.1017/S1743923X15000574 [Google Scholar]
  24. Charness, G., & Gneezy, U. (2012). Strong Evidence for Gender Differences in Risk Taking. Journal of Economic Behavior and Organization, 83(1), 50–58. https://doi.org/10.1016/j.jebo. 2011.06.007 [Google Scholar]
  25. Chatjuthamard, P., Jiraporn, P., Lee, S. M., Uyar, A., & Kilic, M. (2021). Does board gender diversity matter? Evidence from hostile takeover vulnerability. Corporate Governance: The International Journal of Business in Society, 21(5), 845–864. https://doi.org/10.1108/CG-08-2020-0353 [Google Scholar]
  26. Činčalová, S., & Hedija. V. (2020). Firm Characteristics and Corporate Social Responsibility: The Case of Czech Transportation and Storage Industry. Sustainability, 12. https://doi.org/10.3390/su12051992 [Google Scholar]
  27. Cook, A., & Glass, C. (2018). Women on corporate boards: Do they advance corporate social responsibility? Human Relations, 71(7), 897–924. https://doi.org/10.1177/ 0018726717729207 [Google Scholar]
  28. Croson. R., & Gneezy, U. (2009). Gender Differences in Preferences. Journal of Economic Literature, 47(2), 448–74. https://doi.org/10.1257/jel.47.2.448 [Google Scholar]
  29. Dahlerup, D. (2006). The story of the theory of critical mass. Politics and Gender, 2(4), 511–522. https://doi.org/10.1017/S1743923X0624114X [Google Scholar]
  30. Dalton, D. R., & Dalton, C. M. (2010). Women and corporate boards of directors: The promise of increased, and substantive, participation in the post Sarbanes-Oxley era. Business Horizons, 53(3), 257–268. https://doi.org/10.1016/j.bushor.2009.12.004 [Google Scholar]
  31. Dang, R., Nguyen, D. K., & Vo, L. C. (2014). Does the glass ceiling exist? A longitudinal study of women’s progress on French corporate boards. Journal of Applied Business Research, 30(3), 909–916. https://doi.org/10.19030/jabr.v30i3.8576. [Google Scholar]
  32. Darmadi, S. (2013). Do women in top management affect firm performance? Evidence from Indonesia. Corporate Governance: The International Journal of Business in Society, 13(3), 288–304. https://doi.org/10.1108/CG-12-2010-0096 [Google Scholar]
  33. De Andres, P., Azofra, V., & Lopez, F. (2005). Corporate boards in OECD countries: size, composition, functioning and effectiveness. Corporate Governance: An International Review, 13(2), 197–210. https://doi.org/10.1111/j.1467-8683.2005.00418.x [Google Scholar]
  34. Deschênes, S., Rojas, M., Boubacar, H., Prud’homme, B., & Ouedraogo, A. (2015). The impact of board traits on the social performance of Canadian firms. Corporate Governance: The International Journal of Business in Society, 15(3), 293–305. https://doi.org/10.1108/CG-08-2014-0097 [Google Scholar]
  35. Dobija, D., Hryckiewicz, A., Zaman, M., & Puławska, K. (2021). Critical mass and voice: Board gender diversity and financial reporting quality. European Management Journal. https://doi.org/10.1016/j.emj.2021.02.005 [Google Scholar]
  36. Dwyer, S., Richard, O.C., & Chadwick, K. (2003). Gender diversity in management and firm performance: The influence of growth orientation and organizational culture. Journal of Business Research, 56(12), 1009–1019. https://doi.org/10.1016/S0148-2963(01)00329-0 [Google Scholar]
  37. Eagly, A H., Johannesen-Schmidt, M. C., & van Engen, M. L. (2003). Transformational, transactional, and laissez-faire leadership styles: A meta-analysis comparing women and men. Psychological Bulletin, 129(4), 569–591. https://doi.org/10.1037/0033-2909.129.4.569 [Google Scholar]
  38. Erhardt, N. L., Werbel, J. D., & Shrader, C. B. (2003). Board of director diversity and firm financial performance. Corporate Governance: An International Review, 11(2), 102–111. https://doi.org/10.1111/1467-8683.00011 [Google Scholar]
  39. European Commission. (2014). EU Directive 2014/95/EU of the European Parliament and of the Council of 22nd October 2014 amending Directive 2013/34/EU as regards disclosure of non-financial and diversity information by certain large undertakings and groups. Text with EEA relevance (OJ L 330 15.11.2014, p. 1, CELEX: https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX: 32014L0095. [Google Scholar]
  40. European Institute for Gender Equality. (2020). The gender equality index 2020. European Institute for Gender Equality: Vilnius. Retrieved from: https://eige.europa.eu/gender-equality-index/2020/country. [Google Scholar]
  41. Farrell, K. A., & Hersch, P. L. (2005). Additions to corporate boards: the effect of gender. Journal of Corporate Finance, 11(1–2), 85–106. https://doi.org/10.1016/j.jcorpfin. 2003.12.001 [Google Scholar]
  42. Ferreira, D. (2015). Board diversity: Should we trust research to inform policy? Corporate Governance: An International Review, 23(2), 108–111. https://doi.org/10.1111/corg.12092 [Google Scholar]
  43. Fitzsimmons, S. R. (2012). Women on boards of directors: Why skirts in seats aren’t enough. Business Horizons, 55(6), 557–566. https://doi.org/10.1016/j.bushor.2012.07.003 [Google Scholar]
  44. Francoeur, C., Labelle, R. & Sinclair-Desgagné, B. (2008). Gender Diversity in Corporate Governance and Top Management. Journal of Business Ethics, 81(1), 83–95. https://doi.org/10.1007/s10551-007-9482-5 [Google Scholar]
  45. Galbreath, J. (2011). Are there gender-related influences on corporate sustainability? A study of women on boards of directors. Journal of Management and Organization, 17(1), 17–38. https://doi.org/10.5172/jmo.2011.17.1.17 [Google Scholar]
  46. Goyal, R., Kakabadse, N., & Kayabadse, A. (2021). Female board directors’ resilience against gender discrimination. Gender, Work and Organization, 1–26. https://doi.org/10.1111 /gwao.12669 [Google Scholar]
  47. Groening, C. (2018). When do investors value board gender diversity? Corporate Governance: The International Journal of Business in Society, 19(1), 60–79. https://doi.org/10.1108/CG-01-2018-0012 [Google Scholar]
  48. Grosvold, J., Brammer. S., & Rayton, B. (2007). Board diversity in the United Kingdom and Norway: An exploratory analysis. Business Ethics: A European Review, 16(4), 344–357. https://doi.org/10.1111/j.1467-8608.2007.00508.x [Google Scholar]
  49. Gull, A. A., Nekhili, M., Nagati, H., & Chtioui, T. (2018). Beyond gender diversity: How specific attributes of female directors affect earnings management. The British Accounting Review, 50(3), 255–274. https://doi.org/10.1016/j.bar.2017.09.001 [Google Scholar]
  50. Gyapong E., Ahmed, A., Ntim, C. G., & Nadeem, M. (2021). Board gender diversity and dividend policy in Australian listed firms: the effect of ownership concentration. Asia Pacific Journal of Management, 38, 603–643. https://doi.org/10.1007/s10490-019-09672-2 [Google Scholar]
  51. Harrison, D. A., & Klein, K. J. (2007). What’s the difference? Diversity constructs as separation, variety, or disparity in organizations. Academy of Management Review, 32(4), 1199–1228. https://doi.org/10.5465/amr.2007.26586096 [Google Scholar]
  52. Hassan, R., & Marimuthu, M. (2018). Contextualizing comprehensive board diversity and firm financial performance: Integrating market, management and shareholder’s perspective. Journal of Management and Organization, 24(5), 634–678. https://doi.org/10.1017/ jmo.218.10 [Google Scholar]
  53. Hedija, V., & Němec, D. (2021). Gender diversity in leadership and firm performance: Evidence from the Czech Republic. Journal of Business Economics and Management, 22(1), 156–180. https://doi.org/10.3846/jbem.2020.13680 [Google Scholar]
  54. Henry, C., Foss, L., Fayolle, A., Walker, E., & Duffy, S. (2015). Entrepreneurial Leadership and Gender: Exploring Theory and Practice in Global Contexts. Journal of Small Business Management, 53(3), 581–586. https://doi.org/10.1111/jsbm.12174 [Google Scholar]
  55. Hillman, A. (2015). Board diversity: Beginning to unpeel the onion. Corporate Governance: An International Review, 23(2), 104–107. https://doi.org/10.1111/corg.12090 [Google Scholar]
  56. Hillman, A. J., Cannella, A. A. Jr., & Harris, I. C. (2002). Women and racial minorities in the boardroom: How do directors differ? Journal of Management, 28(6), 747–763. https://doi.org/10.1177/014920630202800603 [Google Scholar]
  57. Hogg, M. A., van Knippenberg, D., & Rast, D. E. (2012). Intergroup Leadership in Organizations: Leading Across Group and Organizational Boundaries. Academy of Management Review, 37(2), 232–255. https://doi.org/10.5465/amr.2010.0221 [Google Scholar]
  58. Huq, A., Swee, C., Tan, L., & Venugopal, V. (2020). How do women entrepreneurs strategize growth? An investigation using the social feminist theory lens. Journal of Small Business Management, 58(2), 259–287. https://doi.org/10.1080/00472778.2019.1659679 [Google Scholar]
  59. Hyun, E., Yang, D., Jung, H., & Hong, K. (2016). Women on Boards and Corporate Social Responsibility. Sustainability, 8(4), 300–326. https://doi.org/10.3390/su8040300 [Google Scholar]
  60. Ingley, C., & Van der Walt, N. (2005). Do board processes influence director and board performance? Statutory and performance implications. Corporate Governance: An International Review, 13(5), 632–653. https://doi.org/10.1111/j.1467-8683.2005.00456.x [Google Scholar]
  61. Joecks, J., Pull, K., & Vetter, K. (2013). Gender Diversity in the Boardroom and Firm Performance: What Exactly Constitutes a “Critical Mass?, Journal of Business Ethics, 118(1), 61–72. https://doi.org/10.1 007/s1 0551-012-1553-6 [Google Scholar]
  62. Kang, H., Cheng, M., & Gray, S. J. (2007). Corporate Governance and Board Composition: diversity and independence of Australian boards. Corporate Governance: An International Review, 15(2), 194–207. https://doi.org/10.1111/j.1467-8683.2007.00554.x [Google Scholar]
  63. Katz, D., McIntosh, L., & Lipton, W. (2017). Activism and board diversity. Harvard Law School Forum on Corporate Governance. https://corpgov.law.harvard.edu/2017/09/29/ activism-and-board-diversity/ [Google Scholar]
  64. Kenning, P., & Plassmann, H. (2005). NeuroEconomics: An overview from an economic perspective. Brain Research Bulletin, 67(5), 343–354. https://doi.org/10.1016/j. brainresbull.2005. 07.006 [Google Scholar]
  65. Khan, A. W., & Subhan. Q. A. (2019). “Impact of board diversity and audit on firm performance,” Cogent Business and Management, Vol. 6 No. 1, pp. 1611719. https://doi.org/10.1080 /23311975.2019.161171 [Google Scholar]
  66. Knippen, J. M., Shen, W., & Zhu, Q. (2019). Limited progress? The effect of external pressure for board gender diversity on the increase of female directors. Strategic Management Journal, Vol. 40 No. 7, pp. 1123–1150. https://doi.org/10.1002/smj.3014 [Google Scholar]
  67. Konrad, A. M., Kramer, V., & Erkut, S. (2008). Critical Mass: The Impact of Three or More Women on Corporate Boards, Organizational Dynamics, 37(2), 145–164. https://doi.org/10.1016/ j.orgdyn.2008.02.005 [Google Scholar]
  68. Kramer, V. W., Konrad, A. M., & Erkut, S. (2006). “Critical mass on corporate boards: Why three or more women enhance governance,” (Wellesley Centres for Women, Report No. WCW 11). Wellesley, MA: Wellesley Centres for Women. [Google Scholar]
  69. Křečková, Z. (2013). “Women on Boards: The Perspective of Czech and Slovak Republics in European Context,” Management: Science and Education, Vol 2, pp. 40–42. https://www.researchgate.net/publication/279200246. [Google Scholar]
  70. Křečková, Z., Zadražilová, D., & Řezanková, H. (2016). The Added Value of Women in Management: The Czech Case. Prague Economic Articles, 25(3), 354–373. https://doi.org/10.18267/j.pep.588 [Google Scholar]
  71. Kyaw, K., Olugbode, M., & Petracci, B. (2017). Can board gender diversity promote corporate social performance? Corporate Governance: The International Journal of Business in Society, 17(5), 789–802. https://doi.org/10.1108/CG-09-2016-0183 [Google Scholar]
  72. Lefley, F. (2018). An exploratory study of team conflict in the capital investment decision-making process. International Journal of Managing Projects in Business, 11(4), 960–985. https://doi.org/10.1108/IJMPB-04-2017-0045 [Google Scholar]
  73. Lefley, F., Marešová, P., Hamplová, E., & Janeček, V. (2021). The influence of gender-diverse boards on post-audit practices: A UK SME study. The Engineering Economist. https://doi.org/10.1080/0013791X.2021.2000685 [Google Scholar]
  74. Lešetický, O., Hajdіková, T., Komárková, L., & Pirožek, P. (2016). Gender Diversity in the Management of Hospitals in Czech Republic. In D. Vasilenko, & Natalia Khazieva. Proceedings of the 4th International Conference on Management, Leadership and Governance (pp. 202–209). Saint Petersburg (Russia): ACPI UK, 2016. [Google Scholar]
  75. Leszczyńska, M. (2018). Mandatory Quotas for Women on Boards of Directors in the European Union: Harmful to or Good for Company Performance? European Business Organization Law Review, 19(1), 35–61. https://doi.org/10.1007/s40804-017-0095-x [Google Scholar]
  76. Li, X., & Li, Y. (2020). Female independent directors and financial irregularities in Chinese listed firms: from the perspective of audit committee chairpersons. Financial Research Letter, 32(101320). https://doi.org/10.1016/j.frl.2019.101320 [Google Scholar]
  77. Liu, C. (2018). Are women greener? Corporate gender diversity and environmental violations. Journal of Corporate Finance, 52, 118–142. https://doi.org/10.1016/j. jcorpfin.2018.08.004 [Google Scholar]
  78. Liu, Y., Lei, L., & Buttner, H. (2020). Establishing the boundary conditions for female board directors’ influence on firm performance through CSR. Journal of Business Research, 121, 112–120. https://doi.org/10.1016/j.jbusres.2020.08.026 [Google Scholar]
  79. Lückerath-Rovers, M. (2013). Women on boards and firm performance. Journal of Management and Governance, 17(2), 491–509. https://doi.org/10.1007/s10997-011-9186-1 [Google Scholar]
  80. Maass, A., & Clark, R.D. (1984). Hidden impact of minorities: Fifteen years of minority influence research. Psychological Bulletin, 95(3), 428–450. https://doi.org/10.1037/0033-2909.95.3.428 [Google Scholar]
  81. Mans-Kemp, N., & Viviers, S. (2019). The role of nomination committees in diversifying boards in an emerging market context. Corporate Governance: The International Journal of Business in Society, 19(4), 648–668. https://doi.org/10.1108/CG-07-2018-0254 [Google Scholar]
  82. Martinez-Jimenez, R., Hernández-Ortiz, M.J., & Cabrera Fernández, A.I. (2020). Gender diversity influence on board effectiveness and business performance. Corporate Governance: The International Journal of Business in Society, 20(2), 307–323. https://doi.org/10.1108/CG-07-2019-0206 [Google Scholar]
  83. Mazzotta, R., & Ferraro, O. (2020). Does the gender quota law affect bank performances? Evidence from Italy,” Corporate Governance: The International Journal of Business in Society, 20(6), 1135–1158. https://doi.org/10.1108/CG-08-2019-0252 [Google Scholar]
  84. McDonald, M. L., & Westphal, J. D. (2013). Access Denied: Low Mentoring of Women and Minority First-Time Directors and Its Negative Effects on Appointments to Additional Boards. Academy of Management Journal, 56(4). https://doi.org/10.5465/amj.2011.0230 [Google Scholar]
  85. Meier., P. (2013). Quotas, Quotas everywhere: From Party Regulations to Gender Quotas for Corporate Management Boards. Another case of contagion. Representation: Journal of Representative Democracy, 49(4), 453–466. https://doi.org/10.1080/00344893. 2013.850323 [Google Scholar]
  86. Miller, T. L., & Triana, M. D. C. (2009). Demographic diversity in the boardroom: Mediators of the board diversity-firm performance relationship. Journal of Management Studies, 46(5), 755–786. https://doi.org/10.1111/j.1467-6486.2009.00839.x [Google Scholar]
  87. Moynihan, K. (2021). Finding the formula, Governance and Compliance. The Journal of Chartered Governance Institute UK and Ireland, April, 24–27. [Google Scholar]
  88. Nadeem, M., Zaman, R., & Saleem, I. (2017). Boardroom gender diversity and corporate sustainability practices: evidence from Australian Securities Exchange listed firms. Journal of Cleaner Production, 149, 874–885. https://doi.org/10.1016/j.jclepro.2017.02.141 [Google Scholar]
  89. Nguyen, T. H. H., Ntim, C. G., & Malagila, J. K. (2020). Women on corporate boards and corporate financial and non-financial performance: a systematic literature review and future research agenda. International Review of Financial Analysis, 71, 1–24. https://doi.org/101016/j.irfa.2020.101554 [Google Scholar]
  90. Niederle. M., & Vesterlund. L. (2007). Do Women Shy Away from Competition? Do Men Compete Too Much? The Quarterly Journal of Economics, 122(3), 1067–1101. https://doi.org/10.1162/qjec.122.3.1067 [Google Scholar]
  91. Nielsen, S., & Huse, M. (2010). The Contribution of Women on Boards of Directors: Going beyond the Surface. Corporate Governance: An International Journal, 18(2), 136–148. https://doi.org/10.1111/j.1467-8683.2010.00784.x [Google Scholar]
  92. Oberfield, Z. W. (2014). Accounting for Time: Comparing Temporal and Atemporal Analyses of the Business Case for Diversity Management. Public Administration Review, 74(6), 777–789. https://doi.org/10.1111/puar.12278 [Google Scholar]
  93. Oradi, J. & Izadi, J. (2019). Audit committee gender diversity and financial reporting: evidence from restatements. Managerial Auditing Journal, 35(1), 67–92. https://doi.org/10.1108/MAJ-10-2018-2048 [Google Scholar]
  94. Petera, P., Wagner, J., Paksiova, R., & Krehnacova, A. (2019). Sustainability Information in Annual Reports of Companies Domiciled in the Czech Republic and the Slovak Republic. Engineering Economics, 30(4), 483–495. https://doi.org/10.5755/j01.ee.30.4.22481 [Google Scholar]
  95. Peterson, C. A., & Philpot, J. (2007). Women’s roles on U.S. Fortune 500 boards: director expertise and committee memberships. Journal of Business Ethics, 72(2), 177–196. https://doi.org/10.1007/s10551-006-9164-8 [Google Scholar]
  96. Post, C., & Byron, K. (2015). Women on Boards and Firm Financial Performance: A Meta-Analysis. Academy of Management Journal, 58(5), 1546–1571. https://doi.org/10.5465/ amj.2013.0319 [Google Scholar]
  97. Rao, K., & Tilt, C. (2016). Board composition and corporate social responsibility: the role of diversity, gender, strategy and decision making. Journal of Business Ethics, 138(2), 327–347. https://doi.org/10.1007/s10551-015-2613-5 [Google Scholar]
  98. Rao, K., Tilt, C.A., & Lester, L.H. (2012). Corporate governance and environmental reporting: an Australian study. Corporate Governance: The International Journal of Business in Society, 12(2), 143–163. https://doi.org/10.1108/14720701211214052 [Google Scholar]
  99. Reguera-Alvarado, N., de Fuentes, P., & Laffarga, J. (2017). Does Board Gender Diversity Influence Financial Performance? Evidence from Spain. Journal of Business Ethics, 141(2), 337–350. https://doi.org/10.1007/s10551-015-2735-9 [Google Scholar]
  100. Rose, C. (2007). Does female board representation influence firm performance? The Danish evidence. Corporate Governance: An International Review, 15(2), 404–413. https://doi.org/10.1111/j.1467-8683.2007.00570.x [Google Scholar]
  101. Ryan, L.V. (2017). Sex Differences Through a Neuroscience Lens: Implications for Business Ethics. Journal of Business Ethics, 144(4), 771–782. https://doi.org/10.1007/s10551-016-3110-1 [Google Scholar]
  102. Salloum, C., Jabbour. G., & Mercier‐Suissa. C. (2019). Democracy across gender diversity and ethnicity of Middle Eastern SMEs: How does performance differ?, Journal of Small Business Management, 57(1), 255–267. https://doi.org/10.1111/jsbm.12336 [Google Scholar]
  103. Sapienza, P., Zingales, L., & Maestripieri, D. (2009). Gender differences in financial risk aversion and career choices are affected by testosterone. Proceedings of the National Academy of Science of the United States of America, 106(36) 15268–15273. https://doi.org/10.1073/pnas.0907352106 [Google Scholar]
  104. Schwartz-Ziv, M. (2017). Gender and board activeness: The role of a critical mass. Journal of Financial and Quantitative Analysis, 52(2), 751–780. https://doi.org/10.1017/ S0022109017000059 [Google Scholar]
  105. Sekaquaptewa, D., & Thompson, M. (2002). The Differential Effects of Solo Status on Members of High- and Low-Status Groups. Personality and Social Psychology Bulletin, 28(5), 694–707. https://doi.org/10.1177/0146167202288013 [Google Scholar]
  106. Seierstad, C. (2016). Beyond the business case: The need for both utility and justice rationales for increasing the share of women on boards. Corporate Governance: An International Review, 24(4), 390–405. https://doi.org/10.1111/corg.12117 [Google Scholar]
  107. Singh, V., Terjesen, S., & Vinnicombe, S. (2008). Newly appointed directors in the boardroom: How do women and men differ?, European Management Journal, 26(1), 48–58. https://doi.org/10.1016/j.emj.2007.10.002 [Google Scholar]
  108. Srinidhi, B., Sun, Y., Zhang, H., & Chen, S. (2020). How do female directors improve board governance? A mechanism based on norm changes. Journal of Contemporary Accounting and Economics, 16(1). https://doi.org/10.1016/j.jcae.2019.100181 [Google Scholar]
  109. Terjesen, S., Couto, E. B., & Francisco, P. M. (2016). Does the presence of independent and female directors impact firm performance? A multi-country study of board diversity. Journal of Management and Governance, 20(3), 447–483. https://doi.org/10.1007/s10997-014-9307-8 [Google Scholar]
  110. Thiruvadi, S., & Huang, H. (2011). Audit committee gender differences and earnings management. Gender in Management: An International Journal, 26(7), 483–498. https://doi.org/10.1108/17542411111175469 [Google Scholar]
  111. Torchia, M., Calabrò, A., & Huse, M. (2011). Women directors on corporate boards: From tokenism to critical mass. Journal of Business Ethics, 102(2), 299–317. https://doi.org/10.1007/s10551-011-0815-z [Google Scholar]
  112. Triana, M. D. C., Miller, T. L., & Trzebiatowski, T. M. (2014). The Double-Edged Nature of Board Gender Diversity: Diversity, Firm Performance, and the Power of Women Directors as Predictors of Strategic Change. Organization Science, 25(2), 609–632. https://doi.org/10.1287/orsc.2013.0842 [Google Scholar]
  113. Tsappis, N., & Russell, T. (2021). A different future. Governance and Compliance. The Journal of Chartered Governance Institute UK and Ireland, May, 35–37. [Google Scholar]
  114. Ujunwa, A. (2012). Board characteristics and the financial performance of Nigerian quoted firms. Corporate Governance: The International Journal of Business in Society, 12(5), 656–674. https://doi.org/10.1108/14720701211275587 [Google Scholar]
  115. Ullah, I., Fang, H., & Jebran, K. (2020). Do gender diversity and CEO gender enhance firm’s value? Evidence from an emerging economy. Corporate Governance: The International Journal of Business in Society, 20(1), 44–66. https://doi.org/10.1108/CG-03-2019-0085 [Google Scholar]
  116. Van der Walt, N., Ingley, C., Shergill, G.S. & Townsend, A. (2006). “Board configuration: are diverse boards better boards?,” Corporate Governance: The International Journal of Business in Society, 6(2), 129–147. https://doi.org/10.1108/14720700610655141 [Google Scholar]
  117. Velkova, I. (2015). Quotas for Women on Corporate Boards: The Call for Change in Europe. https://dx.doi.org/10.2139/ssrn.2568604 [Google Scholar]
  118. Yarram, S. R., & Adapa, S. (2021). Board gender diversity and corporate social responsibility: Is there a case for critical mass?, Journal of Cleaner Production, 278(1), 1–11. https://doi.org/10.1016/j.jclepro.2020.123319 [Google Scholar]
  119. Zaichkowsky, J. I. (2014). Women in the board room: one can make a difference. International Journal of Business, Governance and Ethics, 9(1), 91–113. https://doi.org/10.1504/IJBGE.2014.062774 [Google Scholar]
  120. Zalata, A. M., Ntim, C. G., Alsohagy, M. H., & Malagila, J. (2022). Gender diversity and earnings management: The case of female directors with financial background. Review of Quantitative Finance and Accounting, 58(1), 101–136. https://doi.org/10.1007/s11156-021-00991-4 [Google Scholar]
  121. Zenger, J., & Folkman, J. (2020). Gender: Research: Women Are Better Leaders During a Crisis. Harvard Business Review, 30th December. [Google Scholar]
  122. Zhang, L. (2012). Board demographic diversity, independence, and corporate social performance. Corporate Governance: The International Journal of Business in Society, 12(5), 686–700. https://doi.org/10.1108/14720701211275604 [Google Scholar]

Kompletne metadane

Cytowanie zasobu

APA style

Hamplová, Eva & Janeček, Václav & Lefley, Frank (2022). Current Perspective on Corporate Board Gender Diversity: Evidence from the Czech Republic. (2022). Current Perspective on Corporate Board Gender Diversity: Evidence from the Czech Republic. Central European Management Journal, 30(4). https://doi.org/ 10.7206/cemj.2658-0845.90

MLA style

Hamplová, Eva and Janeček, Václav and Lefley, Frank. „Current Perspective On Corporate Board Gender Diversity: Evidence From The Czech Republic”. Central European Management Journal, t. 30, nr 4, 2022.

Chicago style

Hamplová, Eva and Janeček, Václav and Lefley, Frank. „Current Perspective On Corporate Board Gender Diversity: Evidence From The Czech Republic”. Central European Management Journal, Central European Management Journal, 30, nr 4 (2022). doi: 10.7206/cemj.2658-0845.90.