Do Board Gender Quotas Matter? Selection, Performance, and Stock Market Effects

被引：29
|
作者：
Ferrari, Giulia [1 ]
Ferraro, Valeria [2 ]
Profeta, Paola [3 ,4 ]
Pronzato, Chiara [5 ,6 ]
机构：
[1] Inst Natl Etud Demog, Dept Stat Methods, F-93322 Aubervilliers, France
[2] Boston Coll, Chestnut Hill, MA 02467 USA
[3] Bocconi Univ, Dept Social & Polit Sci, I-20136 Milan, Italy
[4] Bocconi Univ, Axa Res Lab Gender Equal, I-20136 Milan, Italy
[5] Univ Turin, I-10124 Turin, Italy
[6] Coll Carlo Alberto, I-10122 Turin, Italy
来源：
MANAGEMENT SCIENCE | 2022年 / 68卷 / 08期
关键词：
education; age; financial markets; AFFIRMATIVE-ACTION; FIRM-PERFORMANCE; DIVERSITY; IMPACT; LEADERSHIP; ANNOUNCEMENTS; ALLOCATION; WOMEN;
D O I：
10.1287/mnsc.2021.4200
中图分类号：
C93 [管理学];
学科分类号：
12 ; 1201 ; 1202 ; 120202 ;
摘要：
From business to politics and academia, the economic effects of gender quotas are under scrutiny. We provide newcausal evidence based on the introduction ofmandatory gender quotas for boards of directors of Italian listed companies. Exploiting staggered board elections, we find that quotas are associated with a new selection of board members, characterized by higher education and lower age, and no significant costs on firm performance or the stockmarket.
引用
收藏
页码：5618 / 5643
页数：26
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