dc.creator | Tampakoudis I., Nerantzidis M., Eweje G., Leventis S. | en |
dc.date.accessioned | 2023-01-31T10:05:59Z | |
dc.date.available | 2023-01-31T10:05:59Z | |
dc.date.issued | 2022 | |
dc.identifier | 10.1016/j.jfs.2022.101020 | |
dc.identifier.issn | 15723089 | |
dc.identifier.uri | http://hdl.handle.net/11615/79588 | |
dc.description.abstract | We explore the association between board gender diversity and shareholder value creation. Specifically, we investigate the impact of gender diversity on the economic impact of bank mergers and acquisitions (M&A). We employ a multi-year sample of M&A announced by European listed banks and find that: (i) the presence of women on the board of directors has a positive and statistically significant effect on acquirer gains; and (ii) boards with three or more women, or where women represent more than 25% of the board, have a stronger impact on acquirer gains than in the opposite case, consistent with critical mass theory. Moreover, banks with a critical mass of female directors perform better in undertaking value-enhancing M&A after the global financial crisis. Policy makers and practitioners could benefit from the findings by exploiting the advantages of board heterogeneity in terms of gender. © 2022 Elsevier B.V. | en |
dc.language.iso | en | en |
dc.source | Journal of Financial Stability | en |
dc.source.uri | https://www.scopus.com/inward/record.uri?eid=2-s2.0-85130600633&doi=10.1016%2fj.jfs.2022.101020&partnerID=40&md5=ccb45deb4531d0b54dff4affdd5a0151 | |
dc.subject | Elsevier B.V. | en |
dc.title | The impact of gender diversity on shareholder wealth: Evidence from European bank M&A | en |
dc.type | journalArticle | en |