Female board appointments and share market response in Australia – an event study

Crawford School of Public Policy | Arndt-Corden Department of Economics

Event details

PhD Seminar (Econ)

Date & time

Friday 19 July 2019


Griffin Room, Level 1, JG Crawford Building, Lennox Crossing, ANU


Nicholas Bayly


Ryan Edwards

Many countries have now mandated minimum representation of women on the boards of public companies. Although claims are regularly made in the popular press that increased female board representation drives greater profitability, the findings in the literature are mixed.

This paper uses the event study methodology to examine the impact on share price of the appointment of female non-executive directors to the boards of ASX-listed firms. This is the first event study of its kind using Australian data, and is also the largest to date in this field. The presentation will include findings from the research as well as discussion of the event study methodology’s key strengths and weaknesses.

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