Public Policy in Tehran Toward E-Government Development and Smart City Implementation
Keywords:
Board gender diversity, Institutional investors, Performance, CEO power, Risk managementAbstract
This study aims to investigate the impact of board gender diversity on firm performance and risk management, with a focus on the moderating effects of CEO education, CEO power, and institutional investors, in companies listed on the Tehran Stock Exchange. The statistical sample includes 116 companies listed on the Tehran Stock Exchange over the period from 2018 to 2022. The models employed in this study are multivariate linear regression models, analyzed using EViews 10 software. The hypothesis testing results indicate a significant and negative relationship between board gender diversity and financial performance (return on assets). There is a significant and positive relationship between board gender diversity and financial performance (return on equity). No significant relationship was found between board gender diversity and financial performance (Tobin's Q). A significant and positive relationship was identified between board gender diversity and economic performance (market value added and economic value added). Moreover, there is a significant and positive relationship between board gender diversity and non-financial performance (corporate social responsibility). However, no significant relationship was found between board gender diversity and other non-financial performance indicators (innovation, employee growth, internal process factor, customer factor, and learning and growth factor). Additionally, no significant relationship was observed between board gender diversity and risk management (operational risk, reporting risk management, and strategic risk management). There is, however, a significant and positive relationship between board gender diversity and risk management regarding non-compliance with laws and regulations.
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References
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