Women's Representation on Boards and the Financial Performance of Polish Public Companies in the pre-COVID-19 Decade

• Autorzy: Krzysztof Kompa , Dorota Witkowska , Lia Hewitt

Warianty tytułu

Związek między reprezentacją kobiet w zarządach a wynikami finansowymi polskich spółek notowanych

• Języki publikacji: EN

Abstrakty

EN

Gender diversity in corporate boardrooms and its relation to the financial performance of public companies is the subject of a wide debate. Both positive and negative relationships have been identified between these two phenomena. This study attempts to determine if there is a relationship between the representation of women on boards and the financial performance of companies in Poland. The research sample comprised 90 companies that had complete records of necessary data and were continuously listed on the Warsaw Stock Exchange in Poland from 2010 to 2019 (in a period referred to as the pre-COVID-19 pandemic decade). The financial performance of companies is measured by (1) several single financial ratios and (2) synthetic (taxonomic) measures constructed using sets of various individual financial ratios. Investigations were conducted for all the selected companies collectively, and separately for banks, other financial firms and non-financial companies. The findings indicate that women's representation on boards had no connection to the financial performance of public companies in Poland, although a few examples of positive relation were noted, particularly in the case of banks.(original abstract)

Różnorodność płci w zarządach i jej związek z wynikami finansowymi spółek notowanych na giełdzie jest przedmiotem szerokiej debaty. Dotychczas identyfikowano zarówno pozytywne, jak i negatywne relacje między tymi dwoma zjawiskami. W niniejszym badaniu podjęto próbę ustalenia, czy istnieje związek między reprezentacją kobiet w zarządach a wynikami finansowymi spółek w Polsce. Próba badawcza obejmowała 90 spółek, które posiadały pełną dokumentację niezbędnych danych i były nieprzerwanie notowane na Giełdzie Papierów Wartościowych w Warszawie w latach 2010-2019 (w okresie określanym jako dekada przed pandemią COVID- 19). Wyniki finansowe spółek mierzone są 1) kilkoma pojedynczymi wskaźnikami finansowymi oraz 2) miarami syntetycznymi (taksonomicznymi), skonstruowanymi z wykorzystaniem zbiorów różnych pojedynczych wskaźników finansowych. Badania przeprowadzono dla wszystkich wybranych spółek łącznie oraz oddzielnie dla banków, innych firm finansowych i spółek niefinansowych. Uzyskane rezultaty sugerują, że reprezentacja kobiet w zarządach nie była powiązana z wynikami finansowymi spółek notowanych na giełdzie w Polsce, choć odnotowano kilka przykładów korelacji dodatniej, szczególnie w przypadku banków.(abstrakt oryginalny)

Słowa kluczowe

EN

Corporate governance; Women in business; Board of directors; Financial indicators

PL

Ład korporacyjny; Kobieta w biznesie; Zarząd; Wskaźniki finansowe

• Czasopismo: Gospodarka Narodowa
• Rocznik: 2023
• Numer: nr 3
• Strony: 34--47

Twórcy

autor

Krzysztof Kompa

• University of Johannesburg, South Africa

autor

Dorota Witkowska

• University of Łódź, Poland

autor

Lia Hewitt

• University of Johannesburg, South Africa

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Identyfikatory

DOI

10.33119/GN/169434