Journal article

Female representation on boards and CEO performance‐induced turnover: Evidence from Russia

Oksana Kim, Yu Flora Kuang, Bo Qin

Corporate Governance: An International Review | Wiley | Published : 2020

Abstract

Abstract Research Question/Issue This study examines the influence of female board representation on CEO turnover and firm value. We focus on Russia, a patriarchal country with vast gender differences, where empathy, patience, and supportiveness are considered fundamental qualities of females. Research Findings/Insights Using a sample of public firms listed on the Moscow Exchange from 2006 to 2015, we find that female representation on boards is associated with lower CEO turnover–performance sensitivity. Further, female boards appear to add firm value, as we find that CEO retention decisions are associated with improved future firm value when the decision is made by a female board. Furtherm..

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