The moderating role of board gender diversity on financial reporting transparency and stock returns: A study on publicly-listed firms in the Philippines before and during the COVID-19 pandemic

• Main Authors: Santos, Michelle Andrea, Estanislao, Marianne Ivy B., Leonida, Daniella Marie Espiritu
• Format: text
• Language: English
• Published: Animo Repository 2023
• Subjects: Financial Statements—Philippines; Stocks—Philippines; Diversity in the workplace; Accounting; Economic Policy; Finance; Health Economics; Health Policy
• Online Access: https://animorepository.dlsu.edu.ph/etdb_acc/88; https://animorepository.dlsu.edu.ph/context/etdb_acc/article/1102/viewcontent/The_Moderating_Role_of_Board_Gender_Diversity_on_Financial_Reporting_Transparency_and_Stock_Returns_A_Study_on_Publicly_Listed_Firms_in_the_Philippines_Before_and_During_the_COVID_19_Pandemic.pdf
• Institution: De La Salle University

The COVID-19 pandemic has disrupted the operations of businesses and resulted in plunging stock prices. This challenged the idea that good quality financial reports pay off in times of crisis through increased investor confidence and higher stock returns. While previous studies have looked into the moderating effects of board gender diversity on the relationship between financial reporting transparency and stock returns, minimal research has been done to look into the relationship in the context of the pandemic and of publicly-listed firms in the Philippines. Using the difference-in-differences methodology, the researchers examined the moderating role of board gender diversity during the COVID-19 pandemic for publicly-listed firms in the Philippines. The results did not provide any empirical evidence to conclude that board gender diversity moderates the relationship between financial reporting transparency and stock returns during the pandemic.