Disclosure of gender policies: do they affect business performance?

Abstract

Disclosure of gender equality policies and their effect on business profitability is a relevant area of research due to the existence of a gap in the academic literature and the need to decrease the gender gap in companies (5th Sustainable Development Goal of the United Nations). To demonstrate the effect of disclosure of gender policies on business profitability, this study analyses the Social Responsibility Reports of 91 companies listed on the Spanish stock exchange for the period 2016–2018. Information on gender equality policies is extracted by using the content analysis technique. A positive association between disclosure of gender equality policies and the accounting profitability obtained by companies is confirmed by applying a panel data approach. Therefore, this research confirms that it is not only necessary to reduce inequalities, but it also has positive financial effects for companies and is a source of competitive advantage. The findings obtained have significant implications for business management.

Keywords

• Gender equality
• Disclosure
• Corporate social responsibility
• Performance