4.6 Article

How Gender Diversity Shapes Cities: Evidence from Risk Management Decisions in REITs

相关参考文献

注意:仅列出部分参考文献,下载原文获取全部文献信息。
Article Business, Finance

Impact of Environmental Investments on Corporate Financial Performance: Decomposing Valuation and Cash Flow Effects

Avis Devine et al.

Summary: Environmentally-sustainable investment can positively impact firm financial performance through various channels, including cash flow and valuation. This study finds that U.S. REITs with a more environmentally-sustainable portfolio attract market valuation premiums, have lower systematic risk, and are less affected by uninformed trading. These firms also experience higher rental revenues and net operating income, as well as lower interest costs. The equity market premium is higher than the property market premium, partially due to reputational effects.

JOURNAL OF REAL ESTATE FINANCE AND ECONOMICS (2023)

Article Business, Finance

CEO-CFO team optimism: Commercial real estate transactions and REIT performance

Piet Eichholtz et al.

Summary: The managerial optimism literature mainly focuses on CEOs neglecting other executive team members. This study evaluates the interaction between the optimism levels of CEOs and CFOs in real estate investment trusts and examines their commercial real estate transactions. The findings show that companies led by optimistic CEO/CFO teams pay 3% more for asset acquisitions compared to their peers when the cash ratio increases by one percentage point. Furthermore, optimistic teams exhibit poor stock performance following a transaction. On the other hand, diversity in CEO/CFO optimism prevents firms from overpaying and serves as a soft governance mechanism that has significance for firm performance.

REAL ESTATE ECONOMICS (2023)

Article Business

In the Club? How Categorization and Contact Impact the Board Gender Diversity-Firm Performance Relationship

Andre Havrylyshyn et al.

Summary: Meta-analytic results reveal a moderate association between board gender diversity and firm performance, but with notable heterogeneity. Gender diversity in the boardroom allows for women's perspectives, which can be beneficial, but it can also lead to biases that exclude women directors, hindering the integration of meaningful perspectives. This study explores how male directors can act as allies to female directors, leveraging diverse perspectives, and empirically tests the effects of reducing out-group categorization and bias against women on the relationship between board gender diversity and firm performance.

JOURNAL OF BUSINESS ETHICS (2023)

Article Business

A free solo in heels: Corporate risk taking among women executives and directors

Alicia R. Ingersoll et al.

Summary: This study examines the challenges faced by women in balancing gender norms and career ambition, particularly in embracing risk. The findings suggest that women who have reached top corporate positions must take on more financial risk compared to their male counterparts, in order to overcome gender stereotypes that limit career mobility.

JOURNAL OF BUSINESS RESEARCH (2023)

Article Business

Labour Practice, Decent Work and Human Rights Performance and Reporting: The Impact of Women Managers

Albertina Paula Monteiro et al.

Summary: The study found that a greater presence of women in management teams is positively associated with performance in relation to labor and human rights, with such performance fostering higher disclosure of information regarding these issues. This indicates that women in management teams serve as a driving force for enhanced corporate social responsibility.

JOURNAL OF BUSINESS ETHICS (2022)

Article Business, Finance

The impact of the board of directors on corporate social performance: a multivariate approach

Camelia Radu et al.

Summary: This study investigates the relation between the board of directors' attributes and corporate social performance. The findings suggest that board independence, size, and gender diversity have different impacts on the environmental and social dimensions of performance, with the industrial sector moderating these effects. Women directors appear to raise social and environmental concerns within the board, positively affecting the firms' social and environmental performance.

JOURNAL OF APPLIED ACCOUNTING RESEARCH (2022)

Article Business

Board Gender Diversity and Managerial Obfuscation: Evidence from the Readability of Narrative Disclosure in 10-K Reports

Muhammad Nadeem

Summary: This passage discusses the importance of readability in 10-K reports for investors, and how gender diversity in the board of directors can impact this readability, ultimately improving firm performance. The study found a significant positive impact of female independent directors and their representation on audit and compensation committees on the readability of 10-K reports.

JOURNAL OF BUSINESS ETHICS (2022)

Article Business

Not Just a Gender Numbers Game: How Board Gender Diversity Affects Corporate Risk Disclosure

Andreas Seebeck et al.

Summary: The study finds a positive relationship between board gender diversity and corporate risk disclosure, but suggests that a critical mass of female directors is needed for an impact. Firms that disclosed Brexit-related risks in their annual reports before the referendum date had lower bid-ask spreads immediately after the vote.

JOURNAL OF BUSINESS ETHICS (2022)

Article Business, Finance

Geographic diversification in real estate investment trusts

Zhilan Feng et al.

Summary: The impact of geographic diversification on the firm value of real estate investment trusts (REITs) varies depending on the transparency level of the company, with more transparent firms benefiting from geographic diversification and less transparent firms benefiting from geographic concentration. Improved operational efficiency, particularly in terms of revenue generation, is the main channel through which these benefits are obtained as property portfolios become more geographically diversified.

REAL ESTATE ECONOMICS (2021)

Review Business, Finance

Shuffling through the Bargain Bin: Real-Estate Holdings of Public Firms

Irem Demirci et al.

REVIEW OF FINANCE (2020)

Article Business

Female directors on the board and investment efficiency: evidence from Korea

Young Zik Shin et al.

ASIAN BUSINESS & MANAGEMENT (2020)

Article Business, Finance

Environmental performance and the cost of debt: Evidence from commercial mortgages and REIT bonds

Piet Eichholtz et al.

JOURNAL OF BANKING & FINANCE (2019)

Article Business

Does Board Gender Diversity Influence Financial Performance? Evidence from Spain

Nuria Reguera-Alvarado et al.

JOURNAL OF BUSINESS ETHICS (2017)

Article Business

WOMEN ON BOARDS AND FIRM FINANCIAL PERFORMANCE: A META-ANALYSIS

Corinne Post et al.

ACADEMY OF MANAGEMENT JOURNAL (2015)

Article Business, Finance

CEO Overconfidence, REIT Investment Activity and Performance

Piet Eichholtz et al.

REAL ESTATE ECONOMICS (2015)

Article Business, Finance

Director gender and mergers and acquisitions

Maurice Levi et al.

JOURNAL OF CORPORATE FINANCE (2014)

Article Economics

THE ECONOMICS OF GREEN BUILDING

Piet Eichholtz et al.

REVIEW OF ECONOMICS AND STATISTICS (2013)

Article Business, Finance

Gender and corporate finance: Are male executives overconfident relative to female executives?

Jiekun Huang et al.

JOURNAL OF FINANCIAL ECONOMICS (2013)

Article Business

Does female representation in top management improve firm performance? A panel data investigation

Cristian L. Dezso et al.

STRATEGIC MANAGEMENT JOURNAL (2012)

Review Business

Four decades of research on product diversification: a literature review

Diana Benito-Osorio et al.

MANAGEMENT DECISION (2012)

Article Economics

Doing Well by Doing Good? Green Office Buildings

Piet Eichholtz et al.

AMERICAN ECONOMIC REVIEW (2010)

Article Business, Finance

Corporate Governance and Performance: The REIT Effect

Rob Bauer et al.

REAL ESTATE ECONOMICS (2010)

Article Business, Finance

Executive compensation in UK property companies

Piet M. A. Eichholtz et al.

JOURNAL OF REAL ESTATE FINANCE AND ECONOMICS (2008)

Article Business

Gender Diversity in the Boardroom and Firm Financial Performance

Kevin Campbell et al.

JOURNAL OF BUSINESS ETHICS (2008)

Article Business, Finance

An empirical evaluation of the overconfidence hypothesis

Wen-I Chuang et al.

JOURNAL OF BANKING & FINANCE (2006)

Article Business, Finance

CEO overconfidence and corporate investment

U Malmendier et al.

JOURNAL OF FINANCE (2005)

Article Business

A few good women - on top management teams

HA Krishnan et al.

JOURNAL OF BUSINESS RESEARCH (2005)

Article Business, Finance

Corporate focus and stock performance international evidence from listed property markets

D Boer et al.

JOURNAL OF REAL ESTATE FINANCE AND ECONOMICS (2005)

Article Business, Finance

Why agency costs explain diversification discounts

H Cronqvist et al.

REAL ESTATE ECONOMICS (2001)

Article Economics

Boys will be boys: Gender, overconfidence, and common stock investment

BM Barber et al.

QUARTERLY JOURNAL OF ECONOMICS (2001)

Article Business, Finance

REIT economies of scale: Fact or fiction?

BW Ambrose et al.

JOURNAL OF REAL ESTATE FINANCE AND ECONOMICS (2000)