Suchergebnisse

Purpose
The purpose of this study is to investigate family management, financial performance and gender diversity of listed firms.


Design/methodology/approach
Using the India stock market as a testing ground, this paper used descriptive statistics and panel regression with random effect assumptions in the analysis of 800 firm-year observations between 2010 and 2019.


Findings
The findings show that an improvement in stock price returns leads to a corresponding increase in women employment. Also, the study shows that an increase in family-managed firms leads to a decrease in the number of women employed in listed firms. This paper speculates using the social role theory that family involvement may see women as the weaker vessel and with a role to concentrate on raising children and handling house affairs. The consequence is a decrease in women employment. The study also shows that the interactive variable of financial performance (return on assets and return on equity) × family-managed firms still causes a decrease in women employment. This paper perceives that managers in family-managed firms see women as weaker vessels and home managers which is consistent with the Indian culture. The results are robust after controlling for endogeneity.


Research limitations/implications
The research study is limited to large firms on the Indian stock market that submit sustainability reports and also used a single country data that can potentially limit the generalisation of the study.


Originality/value
No studies have combined social role theory in examining the effect of family management on gender diversity in the emerging markets.

Purpose
The purpose of this study is to focus on examining whether third-party assurance (TPA) and mandatory corporate social responsibility reporting (MCSR) matter in the association between philanthropic giving (PHG) and listed firms' financial performance.


Design/methodology/approach
Using the Indian stock market as a testing ground, the study used interactive regression and panel regression to analyse 80 sustainability-reporting firms with 800 firm-year observations between 2010 and 2019.


Findings
The first findings show a positive association between PHG and financial performance (return on assets, ROA and stock price returns, SPR). Also, the study shows that the interactive variable of MCSR and PHG has a mixed association with financial performance. The second findings show a positive and statistically significant association between TPA and SPR. Also, the interactive effect of TPA and PHG has a negative association with return on equity (ROE) and a positive association with SPR. The third findings show a negative association between MCSR and financial performance (ROA and ROE) and a positive association with SPR. However, when a firm combines MCSR and TPA, the outcome is a negative association with ROE. The fourth findings show that MCSR has a positive association with TPA. The study control for any form of heteroscedasticity, serial correlation and endogeneity effects.


Practical implications
Managers, if given a choice, must opt for TPA over MCSR because the βcoefficient is higher in TPA than MCSR in PHG-financial performance nexus.


Originality/value
The study addresses the information asymmetry problem from the application of TPA and MCSR, which is new to an emerging economy context.