Composição do conselho e gerenciamento de resultados reaisimpactos da governança corporativa e a influência da presença feminina

Resumo

The financial and economic performance of organizations is very present in academic literature, and the association of financial efficiency with corporate governance practices has become increasingly relevant in the corporate context. With the same importance, the board and its efficiency in business management have been widely studied. Gender equity as a pillar of governance has already been associated with good practices, and as a contribution to the importance of female representation in senior leadership and board positions, this study seeks to understand whether the presence of women on the board can be associated with a reduction in real management practices of activities, contributing to the efficiency of financial reports and better governance practices. The objective of this work is to examine which are the economic, financial and composition characteristics of the board that would be associated with an increase in real management practices of results and which combinations would reduce these practices. The methodology comprises a practical contribution with a quantitative statistical analysis found from multiple regressions. The data collected cover the years 2010 to 2022 for all countries available in the Refinitiv database that presented the highest number of observations for governance aspects and female presence on the board. Stata software was used for the statistical analysis. The analysis covered 11 industry groups for 36 countries, resulting in 35,173 available observations. As a result of the analyses, board size does not appear to be associated with management practices. However, boards with female presence on the board were statistically significantly and negatively related to earnings management practices. Company size and exposure to debt were positively associated with earnings management practices. This study also found a limitation in the effect of a female board on production cost management practices, suggesting that future studies can be explored with a focus on the type of industry and earnings management under inventories, sales or expenses additional challenge in financial management. The possibility of future studies along the same lines as this research could complement the analysis and understanding of the relationship between the board of directors and working capital management.

Ficha do documento

Tipo

Dissertação

Ano

2025

Instituição

Fundação Getulio Vargas

Fonte

Repositório da FGV

Idioma

Português

Acesso

Acesso aberto

Identificador

oai:repositorio.fgv.br:10438/37543

Temas

Governança

Palavras-chave

Conselho de administraçãoGovernança corporativaREMEquidade de gêneroMulheres no boardBoard of directorsCorporate governanceGender equityFemale on boardAdministração de empresasConselhos de administradoresMulheres nos negóciosDesempenhoGerenciamento de resultadosODS 5: Igualdade de gênero