Kvinnor i styrelsen och deras inverkan på avkastningen
(2010)Department of Economics
- Abstract
- ABSTRACT In this paper we set out to investigate whether the number of women in the boardroom has an impact on stock revenue. Female representation has long been absent in corporate boardrooms and even though this has changed recently, women are still widely underrepresented. Other studies have investigated the differences between men and women and their style on governance and leadership. If such differences exist, and depending on if these differences have any effect on revenue, we presume this would be significant to investors seeking to invest in a company with a multi-gender board. We investigate what impact women in the boardroom have, using statistical data from thirty different randomly selected companies. The data we have... (More)
- ABSTRACT In this paper we set out to investigate whether the number of women in the boardroom has an impact on stock revenue. Female representation has long been absent in corporate boardrooms and even though this has changed recently, women are still widely underrepresented. Other studies have investigated the differences between men and women and their style on governance and leadership. If such differences exist, and depending on if these differences have any effect on revenue, we presume this would be significant to investors seeking to invest in a company with a multi-gender board. We investigate what impact women in the boardroom have, using statistical data from thirty different randomly selected companies. The data we have collected are sampled between years 2000 - 2008 and focuses on the percentage of female board members and the annual stock revenue of the company they represent. These variables are tested using two commonly used regression models, The CAPM and The Fama/French tree-factor model. The models are used to test time-series regressions in order to understand how the effect develops over time. The data tested shows that there is a small positive correlation between more women in the boardroom and higher stock revenue. These results are however not significant on a 95 % - confidence interval, which leads us to the conclusion that more women in the board room is not a significant factor of stock revenue success. Further, it is not shown in our tests that enlarging the female representation in corporate board rooms would have a negative effect on the stock revenue. (Less)
Please use this url to cite or link to this publication:
http://lup.lub.lu.se/student-papers/record/1553964
- author
- Winberg, Niclas
- supervisor
- organization
- year
- 2010
- type
- M2 - Bachelor Degree
- subject
- keywords
- avkastning, CAPM, Fama/French, Kvinnor i styrelsen, Economics, econometrics, economic theory, economic systems, economic policy, Nationalekonomi, ekonometri, ekonomisk teori, ekonomiska system, ekonomisk politik
- language
- Swedish
- id
- 1553964
- date added to LUP
- 2010-02-15 00:00:00
- date last changed
- 2010-08-03 10:53:04
@misc{1553964,
abstract = {{ABSTRACT In this paper we set out to investigate whether the number of women in the boardroom has an impact on stock revenue. Female representation has long been absent in corporate boardrooms and even though this has changed recently, women are still widely underrepresented. Other studies have investigated the differences between men and women and their style on governance and leadership. If such differences exist, and depending on if these differences have any effect on revenue, we presume this would be significant to investors seeking to invest in a company with a multi-gender board. We investigate what impact women in the boardroom have, using statistical data from thirty different randomly selected companies. The data we have collected are sampled between years 2000 - 2008 and focuses on the percentage of female board members and the annual stock revenue of the company they represent. These variables are tested using two commonly used regression models, The CAPM and The Fama/French tree-factor model. The models are used to test time-series regressions in order to understand how the effect develops over time. The data tested shows that there is a small positive correlation between more women in the boardroom and higher stock revenue. These results are however not significant on a 95 % - confidence interval, which leads us to the conclusion that more women in the board room is not a significant factor of stock revenue success. Further, it is not shown in our tests that enlarging the female representation in corporate board rooms would have a negative effect on the stock revenue.}},
author = {{Winberg, Niclas}},
language = {{swe}},
note = {{Student Paper}},
title = {{Kvinnor i styrelsen och deras inverkan på avkastningen}},
year = {{2010}},
}