Market Risk Disclosures and Board Gender Diversity in Gulf Cooperation Council (GCC) Firms

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Abstract

We investigate the impact of board gender diversity on corporate risk reporting for Gulf Cooperation Council (GCC) financial firms. Recent developments and improvements of corporate governance in the GCC markets suggest that firms in the GCC have become more transparent with less information asymmetry. However, we find that the presence of female directors in the boards of financial institutions suppresses the positive association between corporate governance and market risk disclosures for the period between 2007 and 2011. These findings suggest that culture and conservatism nature of GCC societies persist in the GCC business environment. Our results are robust to alternative specifications and endogeneity tests.

Original languageEnglish
Pages (from-to)645-658
Number of pages14
JournalInternational Review of Finance
Volume17
Issue number4
DOIs
Publication statusPublished - Dec 1 2017

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ASJC Scopus subject areas

  • Finance
  • Economics and Econometrics

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