I'm testing the effect of managerial gender diversity on financial reporting quality (FRQ).

Two main effects tested together:

Dummy variable for one or more women on board of directors:

coefficient = 1.74, p = 0.018

Dummy variable for female CFO:

coefficient = 0.73, p = 0.030

Two main effects tested together with additional interaction variable:

Dummy interaction (one or more women on BOD and female CFO):

coefficient = 1.65, p = 0.030

Dummy variable for one or more women on board of directors:

coefficient = 1.35, p = 0.075

Dummy variable for female CFO:

coefficient = –0.30, p = 0.603

My interpretation is that the effect of female CFO is moderated by the presence of one or more women on the board of directors. Such that female CFOs improve FRQ only when a woman is present on the board of directors.

Is my interpretation accurate? Thank you very much in advance for assistance : )