董事会性别多元化与股价信息含量

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Abstract Gender based diversity of the board is a central theme in the efforts of governance reform worldwide. This paper examines the effects of gender based diversity of the boards on the quality of informativeness of stock prices. The results show that: (1) stock prices of firms with gender-diverse boards reflect more firm-specific information. (2) There is stronger positive link between gender diversity in the corporate boards and information reflected by stock prices when the quality of earnings is lower. This suggests that firms with weak information environment could partially correct it by appointing more female directors. (3) When the institutional investors hold greater stock ownership, the association of more female directors and the greater information reflected through stock price is stronger.

Key words： female members of the board of directors diversity availability of information relating to stock prices quality of earnings corporate governance

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	YE Ji-ying

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YE Ji-ying. Gender Based Diversity of the Board and the Availability of Information in Relation to Stock Prices[J]. , 2014, 0(1): 96-106.

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https://www.fnyjlc.com/EN/ OR https://www.fnyjlc.com/EN/Y2014/V0/I1/96

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