Lecturer and PhD Student from the HSE Department of Finance in St. Petersburg Present Research at an International Conference in Osaka
As part of the conference, the paper “Board Gender Diversity as a Signal in IPO Pricing: Evidence from China” was presented. The study examines the relationship between board gender composition and IPO underpricing in the Chinese market. The research considers gender diversity as a signal of corporate governance quality that may reduce investor uncertainty when valuing a company at the IPO stage. Special attention is given to the institutional features of the Chinese capital market and the heterogeneity of effects across different groups of issuers. The findings make it possible to assess the extent to which the presence of women on the board is associated with initial stock returns and whether this relationship changes depending on company characteristics and offering conditions.
The presentation sparked a substantive discussion involving researchers in corporate governance and emerging markets. In particular, it was suggested to separately analyze firms with foreign shareholders. Such issuers may be characterized by greater transparency, higher-quality information disclosure, and more active adoption of international corporate governance practices, so the role of gender diversity in shaping investor expectations could manifest differently for them.
Participation in the conference also contributed to the expansion of international academic contacts. Productive discussions on contemporary research in corporate finance, corporate governance, and ESG were held with colleagues from the University of Nottingham Ningbo China, De La Salle University, NEOMA Business School, and Soochow University. As a result of these meetings, opportunities for further exchange of research materials and continued professional cooperation were outlined.