Women on the Board and Managers' Pay: Evidence from Spain

Verfasser / Beitragende:
[Maria Lucas-Pérez, Antonio Mínguez-Vera, Juan Baixauli-Soler, Juan Martín-Ugedo, Gregorio Sánchez-Marín]
Ort, Verlag, Jahr:
2015
Enthalten in:
Journal of Business Ethics, 129/2(2015-06-01), 265-280
Format:
Artikel (online)
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024 7 0 |a 10.1007/s10551-014-2148-1  |2 doi 
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245 0 0 |a Women on the Board and Managers' Pay: Evidence from Spain  |h [Elektronische Daten]  |c [Maria Lucas-Pérez, Antonio Mínguez-Vera, Juan Baixauli-Soler, Juan Martín-Ugedo, Gregorio Sánchez-Marín] 
520 3 |a The current literature shows great interest in the issue of gender diversity on boards of directors. Some studies have hypothesized a direct relationship between diversity and the value of the firm, but not many examine the intermediate mechanisms that may exert an influence on such relationships. We employ two stages of GMM estimation methodology to exhibit evidences of the relationship between gender diversity and compensation of top managers in the Spanish context. Results show that gender diversity positively affects the effectiveness of boards—in terms of composition, structure, size and functioning—influencing a proper design of top managers compensation linked to company performance. Evidences suggest that legislative actions aimed at increasing the presence of women on boards of directors are justified not only for ethical reasons, but also for reasons of economic efficiency. 
540 |a Springer Science+Business Media Dordrecht, 2014 
690 7 |a Board of directors  |2 nationallicence 
690 7 |a Gender diversity  |2 nationallicence 
690 7 |a Governance effectiveness  |2 nationallicence 
690 7 |a Top managers' compensation  |2 nationallicence 
690 7 |a Board characteristics  |2 nationallicence 
700 1 |a Lucas-Pérez  |D Maria  |u Department of Management and Finance, Faculty of Economics and Business, University of Murcia, Campus de Espinardo, s/n, 30100, Murcia, Spain  |4 aut 
700 1 |a Mínguez-Vera  |D Antonio  |u Department of Management and Finance, Faculty of Economics and Business, University of Murcia, Campus de Espinardo, s/n, 30100, Murcia, Spain  |4 aut 
700 1 |a Baixauli-Soler  |D Juan  |u Department of Management and Finance, Faculty of Economics and Business, University of Murcia, Campus de Espinardo, s/n, 30100, Murcia, Spain  |4 aut 
700 1 |a Martín-Ugedo  |D Juan  |u Department of Management and Finance, Faculty of Economics and Business, University of Murcia, Campus de Espinardo, s/n, 30100, Murcia, Spain  |4 aut 
700 1 |a Sánchez-Marín  |D Gregorio  |u Department of Management and Finance, Faculty of Economics and Business, University of Murcia, Campus de Espinardo, s/n, 30100, Murcia, Spain  |4 aut 
773 0 |t Journal of Business Ethics  |d Springer Netherlands  |g 129/2(2015-06-01), 265-280  |x 0167-4544  |q 129:2<265  |1 2015  |2 129  |o 10551 
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950 |B NATIONALLICENCE  |P 700  |E 1-  |a Lucas-Pérez  |D Maria  |u Department of Management and Finance, Faculty of Economics and Business, University of Murcia, Campus de Espinardo, s/n, 30100, Murcia, Spain  |4 aut 
950 |B NATIONALLICENCE  |P 700  |E 1-  |a Mínguez-Vera  |D Antonio  |u Department of Management and Finance, Faculty of Economics and Business, University of Murcia, Campus de Espinardo, s/n, 30100, Murcia, Spain  |4 aut 
950 |B NATIONALLICENCE  |P 700  |E 1-  |a Baixauli-Soler  |D Juan  |u Department of Management and Finance, Faculty of Economics and Business, University of Murcia, Campus de Espinardo, s/n, 30100, Murcia, Spain  |4 aut 
950 |B NATIONALLICENCE  |P 700  |E 1-  |a Martín-Ugedo  |D Juan  |u Department of Management and Finance, Faculty of Economics and Business, University of Murcia, Campus de Espinardo, s/n, 30100, Murcia, Spain  |4 aut 
950 |B NATIONALLICENCE  |P 700  |E 1-  |a Sánchez-Marín  |D Gregorio  |u Department of Management and Finance, Faculty of Economics and Business, University of Murcia, Campus de Espinardo, s/n, 30100, Murcia, Spain  |4 aut 
950 |B NATIONALLICENCE  |P 773  |E 0-  |t Journal of Business Ethics  |d Springer Netherlands  |g 129/2(2015-06-01), 265-280  |x 0167-4544  |q 129:2<265  |1 2015  |2 129  |o 10551