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What Prevents Women from Reaching the Top?

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Abstract

We use rich data on all business, economics, and engineering graduates in Sweden to study the lack of women among CEOs. A comprehensive battery of graduates’ characteristics explains 40% of the gender gaps in CEO appointments, and 60% among graduates with children. The explanatory power mostly comes from absences and unemployment, which are about twice as likely for women as men. These gender differences increase following childbirth, and they persist in the long run. We present and discuss potential explanations to the explained and remaining gaps. Although the large unexplained share makes it is hard to pinpoint the exact reason for the gender gap in CEO appointments, the large contribution of labor market attachment to the explained share suggests work-family trade-offs are an important part of the story.

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  • Keluoharju, Matti & Knüpfer, Samuli & Tåg, Joacim, 2016. "What Prevents Women from Reaching the Top?," Working Paper Series 1111, Research Institute of Industrial Economics, revised 09 Feb 2022.
    • Handle: RePEc:hhs:iuiwop:1111
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    Keywords

    CEOs; Gender gap; Labor market attachment; Family; Qualifications;
    All these keywords.

    JEL classification:

    • G34 - Financial Economics - - Corporate Finance and Governance - - - Mergers; Acquisitions; Restructuring; Corporate Governance
    • J16 - Labor and Demographic Economics - - Demographic Economics - - - Economics of Gender; Non-labor Discrimination
    • J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
    • J31 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Wage Level and Structure; Wage Differentials

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