Elsayed, M., Srour, A., Elsayed, M. (2023). How Does Gender Diversity Moderate the Relationship between Income Smoothing and Stock Liquidity? Evidence from Egypt. test, 4(2), 717-743. doi: 10.21608/cfdj.2023.289029
Mohamed Saber Hamouda Elsayed; Abeer Abdelkreem Ibrahim Srour; Marwa Saber Hamoda Elsayed. "How Does Gender Diversity Moderate the Relationship between Income Smoothing and Stock Liquidity? Evidence from Egypt". test, 4, 2, 2023, 717-743. doi: 10.21608/cfdj.2023.289029
Elsayed, M., Srour, A., Elsayed, M. (2023). 'How Does Gender Diversity Moderate the Relationship between Income Smoothing and Stock Liquidity? Evidence from Egypt', test, 4(2), pp. 717-743. doi: 10.21608/cfdj.2023.289029
Elsayed, M., Srour, A., Elsayed, M. How Does Gender Diversity Moderate the Relationship between Income Smoothing and Stock Liquidity? Evidence from Egypt. test, 2023; 4(2): 717-743. doi: 10.21608/cfdj.2023.289029

How Does Gender Diversity Moderate the Relationship between Income Smoothing and Stock Liquidity? Evidence from Egypt

المجلة العلمية للدراسات والبحوث المالية والتجارية
Volume 4, Issue 2 - Serial Number 1, July 2023, Pages 717-743    PDF (679.59 K)
Document Type: المقالة الأصلية
DOI: 10.21608/cfdj.2023.289029
Authors
Mohamed Saber Hamouda Elsayed1; Abeer Abdelkreem Ibrahim Srour2; Marwa Saber Hamoda Elsayed3
1Assistant Professor of Accounting , Faculty of Commerce, Menoufia University
2Lecturer of Accounting Faculty of Commerce, Benha University
3Lecturer of Accounting Faculty of Commerce, Menoufia University
Abstract
Purpose – The study seeks to examine the impact of income smoothing (IS) on stock liquidity (SL). Further, it investigates the moderating impact of gender diversity (GD) which is represented by board gender diversity (BGD), and audit committee gender diversity (ACGD) in this relationship.
Design/methodology/approach – The study relies on a quantitative research method to assess the impact of IS on SL and then the moderating impact of GD in (62) Egyptian firms from 2018 to 2021. Panel Data regression analysis and the Kruskal-Wallis's test are run to test the hypotheses.
Findings – The results conclude a significant negative impact of IS on SL. Moreover, this relationship is enhanced by GD where BGD and BGD×ACGD weakens the negative impact of IS on SL. Also, the study demonstrates significant differences among Egyptian Stock Exchange (ESE) sectors regarding IS, besides, there are insignificant differences regarding SL.
Originality/value – This study expands the extant literature by providing novel empirical evidence about the moderating impact of GD on the IS-SL relationship. The study is in line with the growing universal interest in increasing females’ participation in boardrooms. Also, the focus of this study is Egypt which has cultural practices and traditional customs toward women. Moreover, the study supports the decisions of regulatory bodies in Egypt to raise the participation of women.
Keywords
Income smoothing; Stock liquidity; Board gender diversity; Audit committee gender diversity
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