Board Gender Diversity and the Cost of Equity: What difference does gender quota legislation make? - Archive ouverte HAL Accéder directement au contenu
Article Dans Une Revue International Journal of Finance and Economics Année : 2023

Board Gender Diversity and the Cost of Equity: What difference does gender quota legislation make?

Résumé

This study examines the relationship between women directors and the cost of equity (COE). Investigating the French firm’s sample, we find a significant negative effect of women directors on the cost of equity. Our results also document that the effect of women directors on reducing the cost of equity is significant for firms that have a critical mass of at least four women directors. Using the difference-in-difference (DID) and propensity score matching (PSM) approach, we find that the relationship between female directors and lower equity costs is significant for the period following the Copé–Zimmermann gender quota law. The results show that women directors’ presence on corporate boards is also supported by economic reasons. The study provides implications in relation to the Copé–Zimmermann law in France.
Fichier sous embargo
Fichier sous embargo
1 0 19
Année Mois Jours
Avant la publication
lundi 12 mai 2025
Fichier sous embargo
lundi 12 mai 2025
Connectez-vous pour demander l'accès au fichier

Dates et versions

hal-03875465 , version 1 (12-05-2023)

Identifiants

Citer

Aitzaz Ahsan Alias Sarang, Nicolas Aubert, Xavier Hollandts. Board Gender Diversity and the Cost of Equity: What difference does gender quota legislation make?. International Journal of Finance and Economics, 2023, ⟨10.1002/ijfe.2774⟩. ⟨hal-03875465⟩
115 Consultations
1 Téléchargements

Altmetric

Partager

Gmail Facebook X LinkedIn More