On March 07 2016, one of the largest ETFs producers State Street Global Advisors launched a new ETF named “SHE”. The ETF tracks the performance of US large-capitalization companies that are leaders within their respective industry sectors in advancing women through gender diversity on their boards of directors and in senior leadership positions. Ever since inception, the ETF has attracted a lot of attention and brought several awards back home. However, it is true that the performance of firms with more female directors is better than the ones with fewer female directors? An investor doubts about it after reading Ahern and Dittmar (2012) and asks you for advice.
Specifically, she would like you to provide information on the following question:
· Are female directors on the board improving the firm performance?
· If yes, through which channels? If not, why do we care so much about the gender diversity when doing investment?
· What are the firm-level characteristics that determine the percentage of females on the board?
Hence, I expect all groups to answer those questions. However, a good assignment will not only discuss the above points but will also expand into other concepts covered in the course; ideally other board characteristics and firm performance. When you decide to do so, you should not briefly list a lot of topics but you should discuss and empirically document a small number of them (usually one) in depth.
Please note that the significance of your results does not matter for your grading. I would like you to propose well-structured hypothesis but finding support (or not) for them is irrelevant for the grade. Obviously, conducting the right tests for the proposed hypothesis is very important for the grade.
The basic framework for this assignment will be:
1. Hypotheses with justification. (what is your expectation and WHY)
2. Data description. (where to obtain the data, over which period)
3. Measure construction (which measures you need and why it is a good measure)
4. Empirical framework
6. Discussion and conclusion
In this assignment, you should empirically document the impact of female directors on firm performance. In doing so, I expect you to estimate your own results from the data. You may briefly discuss already documented findings presented in related papers, but your focus should be on obtaining your own empirical results.
Program to use is Stata and data can be downloaded from anywhere preferably sites like WRDS
Analysis has to be done with stata, and data must be collected and attached as well.
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Collect and analyze data for research project Relevant Skills and Experience Business Analysis, Data Entry, Excel, Research, Research Writing Proposed Milestones €495 EUR - milestone
Based on your description, I can do the assignment. Relevant Skills and Experience Business Analysis, Data Analysis Proposed Milestones €250 EUR - Business Analyst, Data Analysis