Female directors and corporate activities in the context of mergers and acquisitions

This study investigates the relationship between female directors and firm performance as well as other financial issues, such as earnings management and dividend payouts, in the context of a particular corporate scenario - mergers and acquisitions (M&As). By focusing on Singapore and Australia, two typical markets reflected by highly-developed economies, highly-active M&A markets, well-established corporate governance systems and aggressive progress towards board gender equality, this study provides convincing evidence to support gender quotas for boards to improve corporate governance, which leads to subsequent improvements in firm outcomes.