TITLE:
Board Gender Diversity and Financial Performance of US Banks: Evidence from Quantile Regression
AUTHORS:
Evangelos G. Varouchas, Stavros E. Arvanitis, George M. Agiomirgianakis, George Sfakianakis
KEYWORDS:
Corporate Governance, Board Gender Diversity, US, Banks, Quantile Regression
JOURNAL NAME:
Theoretical Economics Letters,
Vol.13 No.7,
December
28,
2023
ABSTRACT: In recent years, the influence of board gender diversity on bank outcomes
has attracted the interest of regulators, policymakers, and academics
worldwide. This paper aims to investigate the
impact of board gender diversity on bank performance using mean-based and quantile-based regression methods. Based
on a sample of 305 listed US banks, we find that board gender heterogeneity
positively impacts the performance of banks, and this impact varies across the
performance distribution. More precisely, we find that female board members exert a significantly larger
positive influence in high-performing US banks relative to
low-performing counterparts. Contrary to previous studies predicting a uniform
effect of gender diversity on the performance of banks, our results support the
heterogeneous impact of board gender diversity on bank performance.