GENDER DIVERSITY AND CORPORATE PERFORMANCE

Economic policy makers, macroprudential supervisors or investors need reliable empiri-cal estimates of the equilibrium level of credit in the economy. When the level of creditis low, high dynamics of credit might re°ect an adjustment to the equilibrium, ¯nancialdeepening in emerging economies for instance. When the level of credit is high, even aone-digit growth rate of credit may be considered excessive. Deviations of credit fromits equilibrium often lead to a widening of macroeconomic imbalances, e.g. rising in°a-tion, asset bubbles, ine±cient booms and bursts or instability of the ¯nancial system.Moreover, banks are also interested in the relationship between their credit policies andthe...
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GENDER DIVERSITY AND CORPORATE PERFORMANCE