Female directorship and ethical corporate governance disclosure practices in highly patriarchal contexts

Areneke, Geofry; Adegbite, Emmanuel; Tunyi, Abongeh; Hussain, Tanveer

Abstract

We examine whether and to what extent female directors impact on ethical CG disclosure practices in a highly patriarchal sub-Saharan African country—Nigeria. Using hand-collected data for 108 listed firms from 2011 to 2017 (756 firm-year observations) and employing a system GMM model to control for endogeneity, we show that female directorship is positively and significantly associated with ethical CG disclosures. Our evidence suggests that, even within patriarchal societies where women face negative preconceptions and stereotypes about their leadership capabilities, firms with female directors disclose higher ethical CG practices than firms without such representation. Furthermore, the effectiveness of female directors in influencing ethical CG practices is positively enhanced by foreign directors and institutional shareholders but weakened in larger boardrooms. We also evidence that in firm-level configuration of CG bundle, female directorship is a substitute mechanism for leadership duality, larger boards, non-executive and foreign directorship.

Citation

Areneke, G., Adegbite, E., Tunyi, A., & Hussain, T. (2023). Female directorship and ethical corporate governance disclosure practices in highly patriarchal contexts. Journal of Business Research, 164, Article 114028. https://doi.org/10.1016/j.jbusres.2023.114028

• Journal Article Type: Article
• Acceptance Date: May 7, 2023
• Online Publication Date: May 18, 2023
• Publication Date: 2023-09
• Deposit Date: May 23, 2023
• Publicly Available Date: May 24, 2023
• Journal: Journal of Business Research
• Print ISSN: 0148-2963
• Electronic ISSN: 1873-7978
• Publisher: Elsevier
• Peer Reviewed: Peer Reviewed
• Volume: 164
• Article Number: 114028
• DOI: https://doi.org/10.1016/j.jbusres.2023.114028
• Keywords: Female Directorship; Ethical Corporate Governance Disclosure; Foreign Directorship; Institutional Shareholding; Board Size
• Public URL: https://nottingham-repository.worktribe.com/output/21102718
• Publisher URL: https://www.sciencedirect.com/science/article/pii/S0148296323003867
• Additional Information: This article is maintained by: Elsevier; Article Title: Female directorship and ethical corporate governance disclosure practices in highly patriarchal contexts; Journal Title: Journal of Business Research; CrossRef DOI link to publisher maintained version: https://doi.org/10.1016/j.jbusres.2023.114028; Content Type: article; Copyright: © 2023 The Author(s). Published by Elsevier Inc.