Female directors, family ownership and firm performance in Jordan
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Date
2019-11-06Author
Saidat, Zaid
Seaman, Claire
Silva, Mauricio
Al-Haddad, Lara
Marashdeh, Zyad
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Saidat, Z., Seaman, C., Silva, M., Al-Haddad, L. & Marashdeh, Z. (2019) Female directors, family ownership and firm performance in Jordan. International Journal of Financial Research, 11(1), pp. 206-219.
Abstract
This study examines the impact of female directors on the financial performance of family and non-family Jordanian
firms. A sample of 103 Jordanian public firms listed on Amman Stock Exchange for the time period 2009-2015 was
selected. The study had a quantitative approach and used a panel data methodology. The data analysis was conducted
using Ordinary Least Square Regression. ROA and Tobin’s Q were deployed as measurement of financial
performance. The appointment of female directors does not have any significant impact on the financial performance
of family firms. However, with regard to non-family firms, female directors appeared to have a negative impact on
the performance of these firms. The impact of female directors on family firm performance merits further research in
the context of different countries and cultures. Appointments based on qualifications and expertise is more likely to
have a positive impact. Jordan is an under-researched area where the impact of female directors on the firm
performance would merit further research. Differentiating between the impact of female directors on family and
non-family firms would also merit further research, especially in the context of the conditions under which they are
appointed.