The effect of board gender diversity on firm value: A study on Philippine publicly listed firms
Date of Publication
2010
Document Type
Bachelor's Thesis
Degree Name
Bachelor of Science in Commerce Major in Management of Financial Institutions
Subject Categories
Finance and Financial Management
College
Ramon V. Del Rosario College of Business
Department/Unit
Financial Management
Thesis Adviser
Neriza M. Delfino
Defense Panel Member
Steven Lim
Christian Paolo Romagos
Ciara Alathea Sapalaran
Abstract/Summary
To our knowledge, there are no studies that examined if there is a business case for board gender diversity in the Philippines to this date. This study hypothesizes that board gender diversity, as measured by the percentage of female directors to total board of directors, a dummy variable, and the Blau and Shannon indices have an effect on firm value (Tobin's Q). In support of the first hypothesis, we also hypothesize that better performing firms have a higher percentage of diversity. We use empirical data of 155 listed firms from the years 2003-2007. On the average, only 12% of the total boards are females for the five years. In order to test our hypotheses, ordinary least-squares estimation was applied and deemed more appropriate than two-stage least square method. Results show that gender diversity is significantly and negatively correlated to firm value. Moreover, firm value is significantly and negatively correlated to gender diversity.
Abstract Format
html
Language
English
Format
Accession Number
TU21724
Shelf Location
Archives, The Learning Commons, 12F, Henry Sy Sr. Hall
Physical Description
102 leaves : illustrations
Keywords
Gender identity in the workplace--Philippines; Diversity in the workplace--Philippines; Financial institutions--Philippines
Recommended Citation
Dimaunahan, D. M., Roxas, G. B., Villacorta, J. S., & Wong, J. C. (2010). The effect of board gender diversity on firm value: A study on Philippine publicly listed firms. Retrieved from https://animorepository.dlsu.edu.ph/etd_bachelors/18380