Khan, Ammar, Yahya, Farzan, Waqas, Muhammad. (1402). The Asymmetric Effect of Board Diversity on Firm Risk and Working Capital Policies: Evidence from Panel Quantile Regression. , 16(2), 567-577. doi: 10.22059/ijms.2022.332495.674802
Ammar Nawaz Khan; Farzan Yahya; Muhammad Waqas. "The Asymmetric Effect of Board Diversity on Firm Risk and Working Capital Policies: Evidence from Panel Quantile Regression". , 16, 2, 1402, 567-577. doi: 10.22059/ijms.2022.332495.674802
Khan, Ammar, Yahya, Farzan, Waqas, Muhammad. (1402). 'The Asymmetric Effect of Board Diversity on Firm Risk and Working Capital Policies: Evidence from Panel Quantile Regression', , 16(2), pp. 567-577. doi: 10.22059/ijms.2022.332495.674802
Khan, Ammar, Yahya, Farzan, Waqas, Muhammad. The Asymmetric Effect of Board Diversity on Firm Risk and Working Capital Policies: Evidence from Panel Quantile Regression. , 1402; 16(2): 567-577. doi: 10.22059/ijms.2022.332495.674802

The Asymmetric Effect of Board Diversity on Firm Risk and Working Capital Policies: Evidence from Panel Quantile Regression

Interdisciplinary Journal of Management Studies
دوره 16، شماره 2، تابستان 2023، صفحه 567-577    اصل مقاله (1.01 M)
نوع مقاله: Research Paper
شناسه دیجیتال (DOI): 10.22059/ijms.2022.332495.674802
نویسندگان
Ammar Nawaz Khan1؛ Farzan Yahya* 2؛ Muhammad Waqas3
1Department of Business Administ1. Department of Business Administration, Institute of Southern Punjab, Multan, Pakistanration, Institute of Southern Punjab, Multan
2Department of Business Administration, Institute of Southern PunjabDepartment of Business Administration, Institute of Southern Punjab, Multan, Pakistan, Multan, Pakistan
3Department of Business Admi3. Department of Economics and Management, Jiangsu University of Science and Technology, Chinanistration, Institute of Southern Punjab, Multan, Pakistan
چکیده
The present study aimed to investigate the asymmetric effects of board gender diversity (BGD) and board financial expertise (BFE) on firm performance, riskiness, and working capital management (WCM). Using panel quantile regression and unbalanced panel data of energy firms in Pakistan over the period 2010 to 2020, the findings suggest that female directors on boards are weak monitors and their presence is merely symbolic. There is no significant effect of BGD on firm performance or WCM. Their incapability to restrict managerial opportunism promotes excessive risk-taking in the firm. On the other hand, financial experts on board uplift low- and moderate-performing firms and restrict the risk-taking behavior when the riskiness of the firm reaches a certain level. Furthermore, they improve the working capital of the firms when aggressive WCM policies are pursued by firms’ managers.
کلیدواژه‌ها
board gender diversity؛ working capital management efficiency؛ board financial expertise؛ quantile regression
مراجع
آمار
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