Board gender diversity and earnings quality. Evidence from the Latin American integrated market (MILA)

Héctor Fabio Perafán Peña

Resumen


La diversidad de género de las juntas directivas es un tema que recientemente ha ganado interés en la investigación en finanzas corporativas. No obstante, hay muy pocos estudios que analizan su influencia sobre la calidad de la información financiera en los mercados desarrollados. Esta situación no es mejor para los mercados emergentes, donde, excepto por China, este tipo de estudios es casi inexistente. De esta forma, esta investigación analiza la relación entre la diversidad de género de las juntas directivas y la calidad de información financiera en Latinoamérica, enfocándose en el Mercado Integrado Latinoamericano (MILA), que lo componen las empresas cotizadas en las bolsas de valores de México, Chile, Perú y Colombia. Con un panel de datos de 361 observaciones del periodo comprendido entre los años 2002 y 2014, este trabajo realiza regresiones de mínimos cuadrados ordinarios (MCO) que dan cuenta de una relación en forma de U invertida entre la diversidad de género de las juntas directivas y la calidad de la información financiera, después de controlar por otras variables tales como el tamaño, apalancamiento, ROA, flujo de caja operativo, pérdidas contables e industria. Asimismo, los resultados indican la existencia de un nivel mínimo de diversidad de género, 30,8% de los miembros de la junta, a partir del cual entre más mujeres se sumen a la junta directiva mejor será la calidad de la información financiera de las empresas.

Palabras clave


Calidad de la información financiera; diversidad de género; juntas directivas; Latinoamérica

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Referencias


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DOI: https://doi.org/10.17533/udea.rc.n72a08 Resumen : 74 PDF (English) : 68

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