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Gender Diversity and Financial Performance: Evidence on US Real Estate Companies

Schrand, Liesa ; Ascherl, Claudia ; Schäfers, Wolfgang


Our paper is the first to identify the determinants which explain the presence of women on the board of directors and to study the relationship between gender diversity and financial performance in a US REIT context. We apply a two-stage Heckman approach to a unique panel dataset of 112 US Equity REITs over the period 2005–2015. Our results show that a REIT’s likelihood of having a woman on the ...


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