Nouvel article de Sabrina Khemiri !
Co-auteurs : Ramzi Benkraiem, Sabri Boubaker, Souad Brinette.
"Board Feminization and Innovation through Corporate Venture Capital Investments: The Moderating Effects of Independence and Management Skills".
Technological Forecasting and Social Change
Volume 163, February 2021, 120467
- We investigate the relationship between board feminization and corporate venture capital (CVC) investments.
- We stress the importance of the moderating effects of independence and management skills on this relationship.
- Female independent directors impede CVC investments.
- Female directors with management backgrounds enhance such investments.
- The study findings enrich the debate on the usefulness of CVC investments as innovation vehicles.
The purpose of this paper is to investigate the relationship between board feminization and innovation through corporate venture capital (CVC) investments, as well as the moderating effects on this relationship of independence and management skills. This study relies on a set of unique data to measure CVC activity for all French-listed companies that undertook a CVC strategy between 2000 and 2018. We found that the appointment of female independent directors impeded CVC investments, whereas the appointment of female directors with management backgrounds enhanced such investments. Our findings are robust to alternative measures of board feminization. Overall, our results enrich the debate on the usefulness of these innovation vehicles for the French economy.