IDEAS home Printed from https://ideas.repec.org/a/eee/ecolet/v190y2020ics016517652030063x.html
   My bibliography  Save this article

Welcome on board: A note on gender quotas regulation in Europe

Author

Listed:
  • Bennouri, Moez
  • De Amicis, Chiara
  • Falconieri, Sonia

Abstract

Using a diff-in-diff approach, we compare the impact on board and directors’ characteristics of mandatory vs advisory regulations on gender quotas in corporate boards. We focus on the experience of three European countries: France and Italy (mandatory regime) vs UK (advisory regime). Our results show that while the percentage of Women on Boards (WoB) generally increases after the introduction of the regulation, this effect is stronger in mandatory regimes. We also find that the quality of the board, measured by several indicators such as size, busyness, qualifications, independence, generally improves more in mandatory regimes. Finally, we also document that gender quotas have had no effect on the likelihood of appointing female executives and board chairwomen in either regime

Suggested Citation

  • Bennouri, Moez & De Amicis, Chiara & Falconieri, Sonia, 2020. "Welcome on board: A note on gender quotas regulation in Europe," Economics Letters, Elsevier, vol. 190(C).
    • Handle: RePEc:eee:ecolet:v:190:y:2020:i:c:s016517652030063x
    DOI: 10.1016/j.econlet.2020.109055
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S016517652030063X
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.econlet.2020.109055?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Chiara Pronzato & Paola Profeta & Valeria Ferraro & Giulia Ferrari, 2016. "Gender Quotas: Challenging the Boards, Performance, and the Stock Market," Working Papers id:11411, eSocialSciences.
    2. Kenneth R. Ahern & Amy K. Dittmar, 2012. "The Changing of the Boards: The Impact on Firm Valuation of Mandated Female Board Representation," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 127(1), pages 137-197.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Garanina, Tatiana & Muravyev, Alexander, 2021. "The gender composition of corporate boards and firm performance: Evidence from Russia," Emerging Markets Review, Elsevier, vol. 48(C).
    2. Barbara Pistoresi & Erica Poma & Alberto Rinaldi, 2022. "Gender quotas quotas between glass ceiling crack and firm performance: evidence from Italy’s financial sector," Department of Economics 0211, University of Modena and Reggio E., Faculty of Economics "Marco Biagi".
    3. Barroso, Raúl & Duan, Tinghua & Guo, Siyue (Sarina) & Kowalewski, Oskar, 2024. "Board gender diversity reform and corporate carbon emissions," Journal of Corporate Finance, Elsevier, vol. 87(C).
    4. Baghdadi, Ghasan A. & Safiullah, Md & Heyden, Mariano L.M., 2023. "Do gender diverse boards enhance managerial ability?," Journal of Corporate Finance, Elsevier, vol. 79(C).
    5. Barbara Pistoresi & Erica Poma & Alberto Rinaldi, 2022. "Gender quota on corporate boards in Italy: spillover effects and financial performance," Department of Economics 0208, University of Modena and Reggio E., Faculty of Economics "Marco Biagi".
    6. Koray Aktaş & Valeria Gattai & Piergiovanna Natale, 2023. "Board gender quotas and outward foreign direct investment: Evidence from France," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 56(4), pages 1291-1321, November.
    7. Filandri, Marianna & Pasqua, Silvia & Priori, Eleonora, 2023. "Breaking through the glass ceiling. Simulating policies to close the gender gap in the Italian academia," Socio-Economic Planning Sciences, Elsevier, vol. 88(C).
    8. Koray Aktas & Valeria Gattai & Piergiovanna Natale, 2021. "Board Gender Quotas and Outward Foreign Direct Investment: Evidence from France," Working Papers 485, University of Milano-Bicocca, Department of Economics, revised Dec 2021.
    9. Sophie Harnay & Fabienne Llense & Antoine Rebérioux & Gwenaël Roudaut, 2024. "Gender equality within boards: comparing quota and soft law," European Journal of Law and Economics, Springer, vol. 57(1), pages 1-35, April.
    10. Fernandes, Mario & Hilber, Simon & Sturm, Jan-Egbert & Walter, Andreas, 2023. "Closing the gender gap in academia? Evidence from an affirmative action program," Research Policy, Elsevier, vol. 52(9).

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Owen, Ann L. & Temesvary, Judit, 2018. "The performance effects of gender diversity on bank boards," Journal of Banking & Finance, Elsevier, vol. 90(C), pages 50-63.
    2. Vincenzo Galasso, 2020. "Market Reactions to Quest for Decentralization and Independence: Evidence from Catalonia," CESifo Working Paper Series 8254, CESifo.
    3. Antoine Rebérioux & Gwenaël Roudaut, 2016. "Gender Quota inside the Boardroom: Female Directors as New Key Players?," Working Papers hal-01297884, HAL.
    4. Simon Jäger & Benjamin Schoefer & Jörg Heining, 2021. "Labor in the Boardroom," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 136(2), pages 669-725.
    5. Marianne Bertrand & Sandra E Black & Sissel Jensen & Adriana Lleras-Muney, 2019. "Breaking the Glass Ceiling? The Effect of Board Quotas on Female Labour Market Outcomes in Norway," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 86(1), pages 191-239.
    6. Kuzmina, Olga & Melentyeva, Valentina, 2020. "Gender diversity in corporate boards: Evidence from quota-implied discontinuities," CEPR Discussion Papers 14942, C.E.P.R. Discussion Papers.
    7. Hinrichsen, Anna & Schiereck, Dirk & von Ahsen, Anette, 2018. "Gender Diversity Issues Within the Company and Beyond: Perceptions of Investor Relations Professionals in German-Speaking Europe," Die Unternehmung - Swiss Journal of Business Research and Practice, Nomos Verlagsgesellschaft mbH & Co. KG, vol. 72(2), pages 109-125.
    8. Alessandro Manello & Maurizio Cisi & Francesco Devicienti & Davide Vannoni, 2020. "Networking: a business for women," Small Business Economics, Springer, vol. 55(2), pages 329-348, August.
    9. Paola Profeta, 2017. "Gender Quotas and Efficiency," ifo DICE Report, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 15(02), pages 26-30, August.
    10. Donato Masciandaro & Paola Profeta & Davide Romelli, 2020. "Do Women Matter in Monetary Policy Boards?," BAFFI CAREFIN Working Papers 20148, BAFFI CAREFIN, Centre for Applied Research on International Markets Banking Finance and Regulation, Universita' Bocconi, Milano, Italy.
    11. Antoine Rebérioux & Gwenael Roudaut, 2017. "Gender Quota and Inequalities inside the Boardroom," Working Papers hal-01618949, HAL.
    12. repec:ces:ifodic:v:15:y:2017:i:2:p:19337559 is not listed on IDEAS
    13. repec:ces:ifodic:v:15:y:2017:i:2:p:26-30 is not listed on IDEAS
    14. Paul B. McGuinness & João Paulo Vieito & Mingzhu Wang, 2020. "Proactive government intervention, board gender balance, and stakeholder engagement in China and Europe," Asia Pacific Journal of Management, Springer, vol. 37(3), pages 719-762, September.
    15. Silvia Del Prete & Maria Lucia Stefani, 2021. "Women as “gold dust”: Gender diversity in top boards and the performance of Italian banks," Economic Notes, Banca Monte dei Paschi di Siena SpA, vol. 50(2), July.
    16. Benkraiem, Ramzi & Boubaker, Sabri & Brinette, Souad & Khemiri, Sabrina, 2021. "Board feminization and innovation through corporate venture capital investments: The moderating effects of independence and management skills," Technological Forecasting and Social Change, Elsevier, vol. 163(C).
    17. Charléty, Patricia & Romelli, Davide & Santacreu-Vasut, Estefania, 2017. "Appointments to central bank boards: Does gender matter?," Economics Letters, Elsevier, vol. 155(C), pages 59-61.
    18. Silva, Buddhika & Hasan, Amena, 2023. "Beyond the Glass Ceiling: How Women Leaders Drive Innovation and Performance in Top Management," MPRA Paper 120388, University Library of Munich, Germany, revised 13 Oct 2023.
    19. Girardone, Claudia & Kokas, Sotirios & Wood, Geoffrey, 2021. "Diversity and women in finance: Challenges and future perspectives," Journal of Corporate Finance, Elsevier, vol. 71(C).
    20. Ferreira, Daniel & Ginglinger, Edith & Laguna, Marie-Aude & Skalli, Yasmine, 2017. "Board Quotas and Director-Firm Matching," CEPR Discussion Papers 12117, C.E.P.R. Discussion Papers.
    21. Mateos de Cabo, Ruth & Terjesen, Siri & Escot, Lorenzo & Gimeno, Ricardo, 2019. "Do ‘soft law’ board gender quotas work? Evidence from a natural experiment," European Management Journal, Elsevier, vol. 37(5), pages 611-624.
    22. Sarkar, Jayati & Selarka, Ekta, 2021. "Women on board and performance of family firms: Evidence from India," Emerging Markets Review, Elsevier, vol. 46(C).

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:ecolet:v:190:y:2020:i:c:s016517652030063x. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/locate/ecolet .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.