Gender diversity effects on corporate policies
: a Portuguese and Spanish case study

  • Maria Inês Pinho Duarte (Student)

Student thesis: Master's Thesis

Abstract

This dissertation analyses how gender diversity in corporate boards influences corporate policies decisions in Portugal and Spain. More specifically, this thesis seeks to address the moderating role of gender diversity on ESG practices, investment decisions and capital structure. A panel data sample of 74 non-financial Portuguese and Spanish was conducted, consisting in 3050 firm-year observations for the period 2013-2022. The results appear to show that gender diversity on corporate boards implies no significant impact on corporate investment decisions and capital structure. However, a more detailed investigation suggests that increased gender diversity is associated to less investment in intangibles assets and greater leverage, a finding that contrasts with initial expectations. The study enriches the existing literature by filling the gap in research that connects board gender diversity to the policies in question, with a specific focus on Portugal and Spain during the selected period.
Date of Award17 Jul 2024
Original languageEnglish
Awarding Institution
  • Universidade Católica Portuguesa
SupervisorJosé Ricardo Vaz Antunes Pereira Correia (Supervisor) & Nuria Suárez (Co-Supervisor)

Keywords

  • Gender diversity
  • ESG
  • Corporate policies

Designation

  • Mestrado em Finanças

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