Participação feminina no conselho de administração e performance empresarial no Brasil

Abstract

Female participation in the labor market has been increasing in recent decades. It is stated that when women hold positions of corporate importance, such as boards of directors of public companies, there are positive corporate performance results. This study is based under the Agency Theory and has the objective to investigate the relationship between women in the boardroom and the corporate performance of companies listed in B3 (Brazil, Stock Exchange and Over-the-Counter Market). It was proceed the application of the statistical tools Correspondence Analysis (Anacor) and Multiple Linear Regression – OLS, fixed-effects panel data and GMM - involving the period from 2012 to 2017. The study is supported by the increasing importance that gender diversity is gaining nationally and internationally and the benefits that greater female participation in the boards of directors offers for corporate performance. In addition, this sttudy sought to use different approaches to measure operational and financial performance. Positive results has been achievied when Anacor was used. However the regressions analysis implied no statistic significance in the relationship between women in the boradroom and corporate performance.