Gender diversity on the board: Impact on risk on mining companies listed on the lima stock exchange

Abstract

 This study analyzes the effect of the presence of women in the board of directors on company risk, considering a sample of 15 mining companies listed on the Lima Stock Exchange. The estimation is carried out using a dynamic model, with the aim of correcting possible endogeneity. The results obtained show significant, but not robust, evidence of the presence of women in the board of directors regarding company risk. This may be due to the fact that the presence of women on the board of directors is still scarce and has no impact on decision-making. The effect of diversity in the board of directors on company risk has received special attention in the last decade. For the Peruvian case, there is no background on similar studies, representing an important contribution, given the relevance of this economic activity for the country, as well as its position in the production of important minerals, such as copper and gold.