Stock Markets Reactions to Women Appointments and National Culture as a Moderator (notice n° 1561852)
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| 000 -LEADER | |
|---|---|
| fixed length control field | 04047cam a2200313 4500500 |
| 005 - DATE AND TIME OF LATEST TRANSACTION | |
| control field | 20251109010613.0 |
| 041 ## - LANGUAGE CODE | |
| Language code of text/sound track or separate title | fre |
| 042 ## - AUTHENTICATION CODE | |
| Authentication code | dc |
| 100 10 - MAIN ENTRY--PERSONAL NAME | |
| Personal name | Dubois, Loïc |
| Relator term | author |
| 245 00 - TITLE STATEMENT | |
| Title | Stock Markets Reactions to Women Appointments and National Culture as a Moderator |
| 260 ## - PUBLICATION, DISTRIBUTION, ETC. | |
| Date of publication, distribution, etc. | 2028.<br/> |
| 500 ## - GENERAL NOTE | |
| General note | 26 |
| 520 ## - SUMMARY, ETC. | |
| Summary, etc. | This study examines how financial markets respond to the announcement of a woman’s appointment, as opposed to a man’s, to senior executive positions, with a focus on the moderating role of national culture. Leveraging a dataset comprising 16,871 executive appointments across 43 countries from 2002 to 2019 (post-Sarbanes-Oxley and pre-COVID-19), we provide a comprehensive analysis of these dynamics. Using an event study methodology, we first demonstrate that stock market reactions vary significantly depending on the firm’s country of origin. We then incorporate cultural dimensions from the GLOBE project and employ multivariate regression analyses to explore the influence of national culture on these reactions. Our findings reveal that markets respond positively to women’s appointments in cultures characterized by collectivism, future orientation, and human orientation. Additionally, we highlight the importance of the specific executive position in shaping market responses. This research contributes to the growing body of literature on gender diversity in corporate leadership by offering new insights into the interplay between gender, culture, and market perceptions. Our findings underscore the necessity of considering cultural norms, social traditions, and practices when evaluating the impact of gender diversity at the upper echelons of corporate management on firm performance. These results provide valuable implications for both scholars and practitioners aiming to understand and leverage the benefits of diversity in executive leadership. JEL Classification: G30, G34, J16 |
| 520 ## - SUMMARY, ETC. | |
| Summary, etc. | Cet article analyse la réaction des marchés financiers à l’annonce de la nomination d’une femme plutôt que d’un homme à un poste de direction au sein des échelons supérieurs d’une entreprise, et examine le rôle modérateur de la culture nationale. À partir d’un échantillon de 16 871 nominations dans 43 pays sur la période 2002-2019 (post-loi Sarbanes-Oxley et pré-Covid-19), nous réalisons une étude d’événement qui révèle des variations significatives des réactions boursières selon le pays d’origine des entreprises. En utilisant les dimensions culturelles du projet GLOBE et des analyses de régressions multivariées, nous montrons que la culture nationale influence ces réactions. Plus précisément, dans les cultures collectivistes, orientées vers l’avenir et centrées sur l’humain, les marchés réagissent positivement aux nominations de femmes. Nous soulignons également que le type de poste pour lequel une femme est nommée joue un rôle dans ces réactions. Cette recherche enrichit la littérature sur la diversité de genre dans les instances dirigeantes en offrant une perspective interculturelle sur l’impact du genre des dirigeants sur la réaction des marchés financiers. Elle propose des pistes nouvelles pour les chercheurs et les praticiens en mettant en lumière l’importance des normes, traditions sociales et pratiques culturelles dans l’évaluation des effets de la diversité de genre sur la performance des entreprises. |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | Culture nationale |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | Échelons Supérieurs |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | Genre |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | Gouvernance d’Entreprise |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | Réaction du marché |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | Corporate Governance |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | Gender |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | Market Reaction |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | National culture |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | Upper echelons |
| 700 10 - ADDED ENTRY--PERSONAL NAME | |
| Personal name | Sami, Hind |
| Relator term | author |
| 700 10 - ADDED ENTRY--PERSONAL NAME | |
| Personal name | Ureche-Rangau, Loredana |
| Relator term | author |
| 786 0# - DATA SOURCE ENTRY | |
| Note | Finance | Pub. anticipées | 2028-12-16 | p. I42-LXXIII | 0752-6180 |
| 856 41 - ELECTRONIC LOCATION AND ACCESS | |
| Uniform Resource Identifier | <a href="https://shs.cairn.info/journal-finance-2025-0-page-I42?lang=en&redirect-ssocas=7080">https://shs.cairn.info/journal-finance-2025-0-page-I42?lang=en&redirect-ssocas=7080</a> |
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