Women on Corporate Boards and Corporate Financial and Non-financial Performance: A Systematic Literature Review and Future Research Agenda

Nguyen, T.H.H., Ntim, C.G., & Malagila, J. (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, Forthcoming.

60 Pages Posted: 14 Jul 2020

See all articles by Thi Nguyen

Thi Nguyen

University of Southampton Business School

Collins G. Ntim

University of Southampton Business School, UK; University of Southampton

John Malagila

Southampton Business School

Date Written: June 21, 2020

Abstract

This paper provides an up-to-date and comprehensive systematic literature review (SLR) of the existing research on women on corporate boards (WOCBs) and corporate financial and non-financial performance. The aim is to synthesise and extend current understanding of both the existing (i) theoretical (i.e., economic, psychological and social) perspectives and (ii) empirical evidence on the (a) multi-level (i.e., individual-, social-, firm- and country-level) antecedents of WOCBs, and (b) the effects that WOCBs have on a wide range of corporate financial and non-financial performance. We achieve this by adopting a three-step SLR approach to analyse/review one of the largest SLR datasets to be employed to date, consisting of 634 mixed, qualitative, quantitative and theoretical studies conducted in over 100 countries from more than 10 disciplines (e.g., accounting, finance, economics and governance) from 1981 to 2019 and published in 270 top-ranked journals. Our findings are as follows. First, a large number of existing studies are descriptive and/or they draw on single rather than multi-theoretical perspectives. Second, existing studies have focused on firm-level rather than country-level antecedents of WOCBs. Third, observable methodological limitations include the dearth of qualitative, mixed-methods and cross-cultural/country studies. Finally, we outline opportunities for future WOCBs research.

Keywords: Corporate Governance, Women on Corporate Boards, Systematic Literature Review, Corporate Financial Performance, Corporate Non-financial Performance

JEL Classification: G3, G30, G34, G38, J16

Suggested Citation

Nguyen, Thi Hong Hahn and Ntim, Collins G. and Malagila, John, Women on Corporate Boards and Corporate Financial and Non-financial Performance: A Systematic Literature Review and Future Research Agenda (June 21, 2020). Nguyen, T.H.H., Ntim, C.G., & Malagila, J. (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, Forthcoming., Available at SSRN: https://ssrn.com/abstract=3632171

Thi Hong Hahn Nguyen

University of Southampton Business School ( email )

Highfield
University Road
Southampton, SO17 1BJ
United Kingdom

Collins G. Ntim (Contact Author)

University of Southampton Business School, UK ( email )

Southampton Business School
Highfield
Southampton, England SO17 IBJ
United Kingdom
+44 (0) 238059 4285 (Phone)
+44 (0) 238059 3844 (Fax)

HOME PAGE: http://www.southampton.ac.uk/business-school/about/staff/cgn1n11.page

University of Southampton ( email )

Southampton, SO17 1BJ
United Kingdom

John Malagila

Southampton Business School ( email )

Faculty of Business, Law and Art
University of Southampton
Southampton, SO17 1BJ
United Kingdom
+442380595318 (Phone)

HOME PAGE: http://www.southampton.ac.uk/business-school/about/staff/jm1u10.page

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