Gender Diversity and Independency: Threat or Opportunity in Managing Innovative Property?

Gender Diversity and Independency: Threat or Opportunity in Managing Innovative Property?

Derya Fındık (Ankara Yildirim Beyazit University, Turkey) and Murat Ocak (Trakya University, Turkey)
DOI: 10.4018/978-1-5225-7180-3.ch017

Abstract

This chapter focuses on the impact of corporate governance indicators on intangible investment (innovative property) and aims to understand the linkages among gender diversity, independency, and intangibles. The literature on corporate governance has mainly focused on the relation between corporate governance indicators and firm financial performance. However, the mediating factor of intangibles receives less attention from scholars. This study uses two data sources at the firm level in Turkey. The first one is the “firm's annual reports” and the second one is the “KAP (Public Disclosure Platform of Turkey) database.” This research covers 215 firms and 9 years from 2005 to 2013; a panel data methodology is used. The research suggests that firms with a certain level of board independency and gender diversity give emphasis to the intangibles.
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Literature Review And Theorical Background

There is no unique theory to explain corporate governance or no agreed theory to find an answer to the question, ‘What is good governance?’ Stakeholder theory, agency theory, resource dependency theory, and upper echelons theory have been employed to explain corporate governance, especially where relating to the structure of the board and top management. The structure and attributes of boards have been defined and discussed in regulations, reports, and codex in various countries. In order to better understand the association among the attributes of the boards and top management team members and intangible assets, the following sub-titles are examined. First, theoretical background deals with why independent and women should be represented on boards or in top management. The relationship among independency, gender, and intangible investment is discussed based on these theoretical explanations. Then recent studies and empirical findings are analyzed in order to reveal the connection among the board of directors, top management, and intangible assets. Second, an overview of institutional settings from various countries is elaborated to understand the historical evolution of regulations with respect to boards and top management.

Key Terms in this Chapter

KAP: Public disclosure platform of Turkey.

IFRS: International financial reporting standard.

TÜSIAD: Turkish Industry and Business Association.

R&D: Research and development.

BDDK: Banking Regulation and Supervision Agency of Turkey.

CEO: Chief executive officer.

CMB-SPK: Capital Markets Board of Turkey.

UK: United Kingdom.

FINNET: Financial Information News Network.

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