Please use this identifier to cite or link to this item: https://scholarbank.nus.edu.sg/handle/10635/220658
Title: IMPACT OF FEMALE CEOS ON REITS PERFORMANCE AND FIRM VALUE
Authors: LIM JIAN JUN
Keywords: Real Estate
RE
2017/2018 RE
Ooi Thian Leong Joseph
CEO
Female
Firm Valuation
Gender
REIT Performance
S-REITs
Issue Date: 22-Dec-2017
Citation: LIM JIAN JUN (2017-12-22). IMPACT OF FEMALE CEOS ON REITS PERFORMANCE AND FIRM VALUE. ScholarBank@NUS Repository.
Abstract: This dissertation investigates the impact of female leadership of S-REITs on firm performance and valuation. Employing a multivariate regression model, the first part of the study finds no differences in the accounting and risk-adjusted returns of REITs led by female CEOs and by male CEOs. The market however appears to discriminate the appointment of female CEOs, as evidenced by a lower firm valuation (Tobin Q) and negative stock price reaction (CAR) to news of female REIT CEO appointments. The results are robust even after controlling for selection bias using the Heckman’s two-step treatment effects model. The results extend to female representation on the board of directors of REITs.
URI: https://scholarbank.nus.edu.sg/handle/10635/220658
Appears in Collections:Bachelor's Theses

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