El Departamento de Administración de la Facultad de Economía y Negocios de la Universidad de Chile, tienen el agrado de invitarle al Seminario Académico: Behind the Faces on Financial Reports: Determinants and Consequences of Human Image Use in Annual Reports of Chilean Firms.
Autores: Cristian Ramírez (presenta) y Jorge Tarziján.
Abstract:
Seeking to advance in the role of corporate governance on organizational outcomes, we evaluate how country-level institutional factors impact the relationship between the board of directors’ gender diversity and the environmental performance of firms. Using detailed data from a multi-country and multi-year panel of firms and taking care of endogeneity issues, we find that the relevance of the board’s diversity in environmental performance is more considerable in countries with less information disclosure (associated with agency theory) and less availability of resources (associated with resource-dependency theory). In a novel finding, we also show that institutional factors related to agency theory intertwined with those pertaining to the resource-dependency approach in their influence on the board gender diversity- environmental performance relationship. These results indicate that an independent institutional analysis of the agency and resource-dependency approaches provides an incomplete understanding of the factors leading to better environmental performance.
