Boardroom Dynamics: The Impact of Board Gender Diversity on Discretionary Dividend Policy in US REITs

Yousef, Ibrahim, Saad, Zighan, Aly, Doaa A ORCID: 0000-0002-2037-6879 and Khaled, Hussainey (2024) Boardroom Dynamics: The Impact of Board Gender Diversity on Discretionary Dividend Policy in US REITs. Journal of Financial Reporting and Accounting. doi:10.1108/JFRA-09-2023-0578 (In Press)

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Abstract

Purpose: This research seeks to address a notable gap in the existing literature by exploring the relationship between gender diversity and dividend policy within the context of US Real Estate Investment Trusts (REITs). Design/Methodology/Approach: We utilize a substantial dataset comprising 1,398 firm-year observations across 209 US REIT companies from 2011-2021 to address the research aims. Fixed effects models and GLS regression methods are employed in the analysis. Findings: The results demonstrate a significant positive association between board gender diversity and higher dividend payouts among US REITs. This relationship holds after controlling for corporate governance and other firm-level factors. Our findings have strong implications that the presence of women on REIT boards contributes to a greater propensity for discretionary dividend increases in the US. Originality: This research contributes to the literature by empirically examining female directors' role in influencing US REITs' dividend policies, an area lacking adequate prior scholarship. The paper also considers the unique regulatory environment of REITs, highlighting the importance of our study for externally financed firms.

Item Type:	Article
Article Type:	Article
Uncontrolled Keywords:	Corporate Governance; Gender diversity; Discretionary Dividend Policy; Board of Directors; REITs
Subjects:	H Social Sciences > HD Industries. Land use. Labor > HD28 Management. Industrial Management > HD58 Organizational behavior, change and effectiveness. Corporate culture H Social Sciences > HF Commerce > HF5001 Business H Social Sciences > HG Finance
Divisions:	Schools and Research Institutes > School of Business, Computing and Social Sciences
Research Priority Areas:	Applied Business & Technology
Depositing User:	Kamila Niekoraniec
Date Deposited:	15 May 2024 14:22
Last Modified:	10 Jul 2024 15:05
URI:	https://eprints.glos.ac.uk/id/eprint/14090

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