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Board Quotas and Director-Firm Matching

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  • Ferreira, Daniel
  • Ginglinger, Edith
  • Laguna, Marie-Aude
  • Skalli, Yasmine

Abstract

We study the impact of board gender quotas on the labor market for corporate directors. We find that the annual rate of turnover of female directors falls by about a third following the introduction of a quota in France in 2011. This decline in turnover is more pronounced for new appointments induced by the quota, and for appointments made by firms that regularly hire directors who are members of the French business elite. By contrast, the quota has no effect on male director turnover. The evidence suggests that, by changing the director search technology used by firms, the French quota has improved the stability of director-firm matches.

Suggested Citation

  • 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.
    • Handle: RePEc:cpr:ceprdp:12117
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    Cited by:

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    2. Leonardo Gambacorta & Alessio Reghezza & Martina Spaggiari & Livia Pancotto, 2022. "Gender diversity in bank boardrooms and green lending: evidence from euro area credit register data," BIS Working Papers 1044, Bank for International Settlements.
    3. Homroy, Swarnodeep & Mukherjee, Shibashish, 2021. "The role of employer learning and regulatory interventions in mitigating executive gender pay gap," Journal of Corporate Finance, Elsevier, vol. 71(C).
    4. Kim, Hyemin & Fahlenbrach, Rüdiger & Low, Angie, 2023. "CEO networks and the labor market for directors," Journal of Empirical Finance, Elsevier, vol. 70(C), pages 1-21.
    5. Antoine Rebérioux & Gwenael Roudaut, 2017. "Gender Quota and Inequalities inside the Boardroom," Working Papers hal-01618949, HAL.

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    More about this item

    Keywords

    Corporate boards; Gender quotas; Corporate governance; Labor markets; Matching; Turnover;
    All these keywords.

    JEL classification:

    • G34 - Financial Economics - - Corporate Finance and Governance - - - Mergers; Acquisitions; Restructuring; Corporate Governance
    • G38 - Financial Economics - - Corporate Finance and Governance - - - Government Policy and Regulation
    • J70 - Labor and Demographic Economics - - Labor Discrimination - - - General
    • J63 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers - - - Turnover; Vacancies; Layoffs

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