Open AccessMedia visibility and board gender diversity
Author(s) -
PeñaMartel Devora,
PérezAlemán Jerónimo,
SantanaMartín Domingo J.
Publication year - 2022
Publication title -
business ethics, the environment & responsibility
Language(s) - English
Resource type - Journals
eISSN - 2694-6424
pISSN - 2694-6416
DOI - 10.1111/beer.12382
Subject(s) - visibility , diversity (politics) , gender diversity , context (archaeology) , representation (politics) , sample (material) , on board , business , public relations , accounting , print media , marketing , advertising , political science , corporate governance , geography , finance , law , newspaper , chemistry , archaeology , chromatography , politics , meteorology
Despite the efforts of governments and market regulators, the under‐representation of women on corporate boards continues to be a global concern. In this context, this study extends prior literature by investigating the relationship between media visibility and gender diversity on boards of directors. We examine a sample of 101 Spanish nonfinancial listed firms over the period 2003–2016. We find that media visibility positively affects board gender diversity. This finding is robust to alternative measures of media visibility and different econometric specifications. This research contributes to the existing literature on the relationship between media and board composition by suggesting the role of the media as a driver of board gender diversity. Results support the notion that the media are able to discipline managers and dominant owners by inflicting reputational costs.