TY - JOUR
T1 - Female leadership and bank performance in Latin America
AU - Baselga-Pascual, Laura
AU - Vähämaa, Emilia
N1 - Funding Information:
We wish to thank two anonymous referees, Sadok El Ghoul, Sami Vähämaa, Iñaki Erauskin Iurrita, Jose L. González-Pernia, Iñaki Peña, Mariña Martínez-Malvar, Steven Kozlowski, Xinming Li, Angela Gallo, Jesper Haga, Min Park, Antonio Trujillo-Ponce and seminar and conference participants at Pablo de Olavide University, Hanken School of Economics, Deusto Business School, the XXIV Finance Forum, the VIII Annual Workshop of the Nordic Corporate Governance Network, the Eastern Finance Association (EFA) Annual Meeting and the Southern Finance Association (SFA) Annual Meeting for valuable comments and suggestions. The financial support of Finland's Sustainable Investment Forum (Finsif), Finnish Savings Banks' Research Foundation and Deusto Business School. Part of this paper was written while L. Baselga-Pascual was visiting the University of Vaasa.
Funding Information:
We wish to thank two anonymous referees, Sadok El Ghoul, Sami V?h?maa, I?aki Erauskin Iurrita, Jose L. Gonz?lez-Pernia, I?aki Pe?a, Mari?a Mart?nez-Malvar, Steven Kozlowski, Xinming Li, Angela Gallo, Jesper Haga, Min Park, Antonio Trujillo-Ponce and seminar and conference participants at Pablo de Olavide University, Hanken School of Economics, Deusto Business School, the XXIV Finance Forum, the VIII Annual Workshop of the Nordic Corporate Governance Network, the Eastern Finance Association (EFA) Annual Meeting and the Southern Finance Association (SFA) Annual Meeting for valuable comments and suggestions. The financial support of Finland's Sustainable Investment Forum (Finsif), Finnish Savings Banks' Research Foundation and Deusto Business School. Part of this paper was written while L. Baselga-Pascual was visiting the University of Vaasa.
Publisher Copyright:
© 2021 Elsevier B.V.
PY - 2021/3/4
Y1 - 2021/3/4
N2 - This paper examines the relationship between gender diversity in corporate boards and executive positions and bank risk and performance in Latin America. Our sample covers 91 individual banks during 2000–2017. Our results suggest that banks with a higher proportion of female executives tend to have lower Z-scores than male-led banks. However, female-led banks are more profitable. Our results provide new information related to the debate on the relationship between gender-based behavioural differences and financial decisions by showing that Latin American banks with a higher proportion of female executives are riskier and more profitable than male-led banks. Given the impact of bank performance on the international economy, the global interconnection of financial institutions, and the lack of legal protection in this region, it is of interest for regulators and policy makers to analyse possible sources of better performance and governance in Latin American banks.
AB - This paper examines the relationship between gender diversity in corporate boards and executive positions and bank risk and performance in Latin America. Our sample covers 91 individual banks during 2000–2017. Our results suggest that banks with a higher proportion of female executives tend to have lower Z-scores than male-led banks. However, female-led banks are more profitable. Our results provide new information related to the debate on the relationship between gender-based behavioural differences and financial decisions by showing that Latin American banks with a higher proportion of female executives are riskier and more profitable than male-led banks. Given the impact of bank performance on the international economy, the global interconnection of financial institutions, and the lack of legal protection in this region, it is of interest for regulators and policy makers to analyse possible sources of better performance and governance in Latin American banks.
KW - 512 Business and Management
KW - Corporate governance
KW - Female leadership
KW - Financial institutions
KW - Latin America
UR - http://www.scopus.com/inward/record.url?scp=85103076279&partnerID=8YFLogxK
UR - https://www.mendeley.com/catalogue/3f352063-dbda-39f5-813e-f5213d66c521/
U2 - 10.1016/j.ememar.2021.100807
DO - 10.1016/j.ememar.2021.100807
M3 - Article
AN - SCOPUS:85103076279
SN - 1566-0141
VL - 48
JO - Emerging Markets Review
JF - Emerging Markets Review
M1 - 100807
ER -
