Electronic Resource
Strategy disclosure and cost of capital : The key role of women directors for family firms
| العنوان: | Strategy disclosure and cost of capital : The key role of women directors for family firms |
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| المؤلفون: | Gjergji, Rafaela, Vena, Luigi, Campopiano, Giovanna, Sciascia, Salvatore, Cortesi, Alessandro |
| بيانات النشر: | Jönköping University, IHH, Centre for Family Entrepreneurship and Ownership (CeFEO) FABULA – Family Business Lab, Università Cattaneo - LIUC, Corso Matteotti 22, (VA), Castellanza, 21053, Italy School of Economics & Management, Università Cattaneo – LIUC, Corso Matteotti 22, (VA), Castellanza, 21053, Italy Center for Young and Family Enterprise (CYFE) & Department of Management, Information and Production Engineering, University of Bergamo, Via Pasubio 7/B, (BG), Dalmine, 24044, Italy FABULA – Family Business Lab, Università Cattaneo - LIUC, Corso Matteotti 22, (VA), Castellanza, 21053, Italy School of Economics & Management, Università Cattaneo – LIUC, Corso Matteotti 22, (VA), Castellanza, 21053, Italy 2024 |
| نوع الوثيقة: | Electronic Resource |
| مستخلص: | This paper investigates whether and to what extent strategy disclosure influences the cost of capital, comparing family and non-family firms and considering the proportion of women directors. We theorize that voluntary strategy disclosure may be either beneficial or detrimental depending on the perceptions by financial stakeholders about the role of governance attributes. These stakeholders might, indeed, assess strategy disclosure differently based on their stereotyped view of the family firm status and women's involvement on the board of directors. By referring to a sample of 93 listed Italian small and medium-sized enterprises, we show that, unlike with their non-family counterparts, strategy disclosure increases the cost of capital for family firms. However, an increasing proportion of women directors softens this negative effect. Moreover, when a critical mass of women directors is appointed to the board, the strategy disclosure becomes beneficial for family firms too. We consequently offer a threefold contribution to the literature on gender diversity, family business and corporate voluntary disclosure. |
| مصطلحات الفهرس: | Board of directors, Cost of capital, Family business, Strategy disclosure, Women directors, Business Administration, Företagsekonomi, Article in journal, info:eu-repo/semantics/article, text |
| DOI: | 10.1016.j.jfbs.2023.100570 |
| URL: | The Journal of Family Business Strategy, 1877-8585, 2024, 15:2 |
| الاتاحة: | Open access content. Open access content info:eu-repo/semantics/restrictedAccess |
| ملاحظة: | English |
| Other Numbers: | UPE oai:DiVA.org:hj-62189 0000-0001-7065-0410 doi:10.1016/j.jfbs.2023.100570 ISI:001257761500001 Scopus 2-s2.0-85164180182 Local ;intsam;1789036 1400012990 |
| المصدر المساهم: | UPPSALA UNIV LIBR From OAIster®, provided by the OCLC Cooperative. |
| رقم الانضمام: | edsoai.on1400012990 |
| قاعدة البيانات: | OAIster |
| DOI: | 10.1016.j.jfbs.2023.100570 |
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