Female Directors and Investment Efficiency: New Evidence from an Emerging Market-Reference-Cited by-同舟云学术

Female Directors and Investment Efficiency: New Evidence from an Emerging Market

Published:2023-12 Issue:2 Volume:16 Page:200-217
ISSN:0974-6862
Container-title:Indian Journal of Corporate Governance
language:en
Short-container-title:Indian Journal of Corporate Governance

Author:

Dao Thi Huong¹,Tran Quoc Trung²^ORCID,Vuong Thi Bich Nga²,Le Son Dai²

Affiliation:

1. Thuyloi University, Ha Noi, Vietnam

2. Foreign Trade University, Ho Chi Minh City Campus, Ho Chi Minh City, Vietnam

Abstract

Prior studies show that the effect of female directors on corporate investment efficiency is mixed. This article investigates this relationship in a weak corporate governance setting. With a data of 4,653 firm-years from 582 firms listed in Vietnam during the period 2009–2020, we find that female directors decrease corporate investment efficiency through increasing underinvestment and they have no significant effect on overinvestment. Moreover, the negative relationship between female directors and investment efficiency is stronger in state-owned firms.

Publisher

SAGE Publications

Subject

Strategy and Management,Business, Management and Accounting (miscellaneous),Business and International Management

Link

http://journals.sagepub.com/doi/pdf/10.1177/09746862231205649

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