Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/317595 
Year of Publication: 
2022
Citation: 
[Journal:] Journal of Business Economics and Management (JBEM) [ISSN:] 2029-4433 [Volume:] 23 [Issue:] 5 [Year:] 2022 [Pages:] 1084-1105
Publisher: 
Vilnius Gediminas Technical University, Vilnius
Abstract: 
Previous studies have shown the importance of gender diversity for good corporate governance, although in developing countries a gap is observed in correlating compliance with corporate governance principles and board composition. Our study examines the influence of the board composition, including female executives, on compliance with the corporate governance code of companies listed on the Bucharest Stock Exchange. By analysing data collected from the annual reports (corporate governance statements, financial statements) of 63 companies listed on the Romanian capital market between 2016 and 2019 (divided into two panels depending on the listing tier - Premium and Standard), we identified a positive relationship between female executive and the degree of compliance with the Corporate Governance Code. The national majority capital positively and significantly influences the compliance of companies with female executives listed in the Standard Tier with the Code, while the private majority capital negatively influences the compliance of the companies regardless the listing tier. Our study highlights the importance of female executives in the corporate governance of listed companies on the Romanian capital market and brings empirical contribution to the literature development on a newly declared emerging market.
Subjects: 
corporate governance code
female executive
corporate ownership
conformity
emerging markets
Bucharest Stock Exchange
JEL: 
M14
M41
C87
L25
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by Logo
Document Type: 
Article

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