Variable definitions and acronyms
| Variables | Description |
|---|---|
| Dependent variables | |
| NPL | The proportion of nonperforming loans to total loans in a year |
| Pro_NPL | The proportion of cumulative provision on nonperforming loans to total loans in a year |
| Independent variables | |
| FPBOD | The proportion of female board members to all directors on a board |
| BLAU | 1-∑ni = 1 Pi2, Pi refers to the fraction of board members in each category of given attribute; n is the number of groups of a given trait |
| GD1/2 | The dummy variable is set equal to one if a firm in a year has one or two females and zero otherwise |
| GD3/3+ | The dummy variable is set equal to one if a firm in a year has three or more females; otherwise, it is zero |
| FE_IND | The proportion of female independent to total directors |
| FE_LED | The dummy variable is set equal to one if a firm in a year has a female having chairman either the board or any subcommittee; otherwise, it is zero |
| FE_EXP | The proportion of female directors with financial expertise, holding either executive or non-executive roles in any financial sector, relative to the total number of directors |
| FE_HEDU | The proportion of female directors who hold a master’s degree (e.g. MA, MSc, or MBA) or higher degrees (including PhD) relative to the total number of directors |
| FE_FOREDU | The proportion of female directors who have graduated from a foreign university relative to the total number of directors |
| FE_ACFI | The proportion of female directors having degree major in accounting and/or finance to total directors |
| Control variables | |
| INDP | The fraction of independent directors to the total board of directors in a year |
| BS | The total number of board of directors |
| FSIZE | The log of the market value of the equity |
| ROE | Net income scaled by shareholder equity |
| LEV | The proportion of total debt to total equity |
| BM | The total board meeting in a year |
| DO | The proportion of shares a sponsor and/or director holds to all shares held |
| IO | The proportion of shares held by institutions to all shares held |
| FO | The proportion of shares held by foreigners to all shares held |
| COVID19 | The dummy variable is set equal to one if a firm in a year has after Covid-19 (e.g. 2020, 2021, 2022) otherwise, it is zero |
| INDGEN | The average female directors in the industry by year |
| Variables | Description |
|---|---|
| The proportion of nonperforming loans to total loans in a year | |
| The proportion of cumulative provision on nonperforming loans to total loans in a year | |
| The proportion of female board members to all directors on a board | |
| 1-∑ni = 1 Pi2, Pi refers to the fraction of board members in each category of given attribute; n is the number of groups of a given trait | |
| The dummy variable is set equal to one if a firm in a year has one or two females and zero otherwise | |
| The dummy variable is set equal to one if a firm in a year has three or more females; otherwise, it is zero | |
| The proportion of female independent to total directors | |
| The dummy variable is set equal to one if a firm in a year has a female having chairman either the board or any subcommittee; otherwise, it is zero | |
| The proportion of female directors with financial expertise, holding either executive or non-executive roles in any financial sector, relative to the total number of directors | |
| The proportion of female directors who hold a master’s degree (e.g. MA, MSc, or MBA) or higher degrees (including PhD) relative to the total number of directors | |
| The proportion of female directors who have graduated from a foreign university relative to the total number of directors | |
| The proportion of female directors having degree major in accounting and/or finance to total directors | |
| The fraction of independent directors to the total board of directors in a year | |
| The total number of board of directors | |
| The log of the market value of the equity | |
| Net income scaled by shareholder equity | |
| The proportion of total debt to total equity | |
| The total board meeting in a year | |
| The proportion of shares a sponsor and/or director holds to all shares held | |
| The proportion of shares held by institutions to all shares held | |
| The proportion of shares held by foreigners to all shares held | |
| The dummy variable is set equal to one if a firm in a year has after Covid-19 (e.g. 2020, 2021, 2022) otherwise, it is zero | |
| The average female directors in the industry by year | |
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