Do ‘soft law’ board gender quotas work? Evidence from a natural experiment

Cabo, Ruth Mateos de; Terjesen, Siri; Mangas, Lorenzo Escot; Gimeno, Ricardo

doi:10.1016/j.emj.2019.01.004

Cited by 99 publications

(69 citation statements)

References 35 publications

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“…It is a well-documented fact that men are dominant in boardrooms around the globe and women are under-represented compared to their proportion in the workforce (Dale-Olsen, Schøne, & Verner, 2013;Leszczyńska, 2018;Mateos de Cabo, Terjesen, Escot, & Gimeno, 2019;Piscopo & Clark Muntean, 2018;Smith, 2018;Teigen, 2012). The idea of increasing the representation of women on corporate boards has gained considerable ground in the last decade.…”

Section: International Board Gender Diversity Reformsmentioning

confidence: 99%

“…These policy reforms may be categorized mainly into two types: 'mandatory' vs. 'voluntary' board gender diversity requirements. Mandatory reforms refer to gender quota legislation that can also take two forms (Mateos de Cabo et al, 2019;Terjesen, Aguilera, & Lorenz, 2015). The first of these involves 'hard quotas' , as in Norway and France.…”

Section: International Board Gender Diversity Reformsmentioning

confidence: 99%

“…The Austrian quota law requires that the supervisory boards of the firms concerned comprise at least 30%. In the event of non‐compliance with the quota law, board appointments by the Austrian firms concerned will be considered illegitimate (Mateos de Cabo et al., ).…”

Section: International Board Gender Diversity Reformsmentioning

confidence: 99%

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Gender‐diverse boards and audit fees: What difference does gender quota legislation make?

Nekhili

Gull

Chtioui

et al. 2019

Business Fin & Account

137

135

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We investigate the effect of board (audit committee) gender diversity on audit fees in the French context. We also examine whether the relationship between the proportion of female directors and audit fees is moderated by the enactment of the gender quota law in 2011. We use the system GMM estimation approach on a matched sample of French firms listed in the SBF 120 index between 2002 and 2017. Consistent with the supply‐side perspective, we contend that female independent directors and female audit committee members, by improving board monitoring effectiveness, affect the auditor's assessment of audit risk, resulting in lower audit fees. Our findings also document that, by breaking the glass ceiling, the effectiveness of the gender quota law lies not in increasing the proportion of female insider directors, but in boosting the appointment of female independent directors and female audit committee members. Using the difference‐in‐difference approach, our results reveal that female independent directors and female audit committee members are more willing to assert their monitoring skills after the quota law, leading to lower audit fees. Moving beyond tokenism, we show that, after the quota law, the negative impact on non‐audit fees is strengthened only for female independent directors.

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Section: International Board Gender Diversity Reformsmentioning

confidence: 99%

Section: International Board Gender Diversity Reformsmentioning

confidence: 99%

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Gender‐diverse boards and audit fees: What difference does gender quota legislation make?

Nekhili

Gull

Chtioui

et al. 2019

Business Fin & Account

137

135

View full text Add to dashboard Cite

show abstract

“…Finland, for example, introduced academic gender quotas in 1995. Spain adopted academic gender quotas in 2007 [60], and in 2014, France introduced gender quotas for all scientific communities [61].…”

Section: Targeting Gender Parity In Academia Worldwidementioning

confidence: 99%

Gender Parity within the Gender—Sustainability Paradigm: A Case Study on Management Structures of the Romanian Academia

et al. 2020

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Our study proposes a Romanian national perspective of the gender–sustainability paradigm in higher education under the Sustainable Development Goal 5 (SDG5) approach. The starting point is the interlinkage of the two concepts, gender parity and sustainability, depicted on a fundamental societal domain. Data collection was completed following a census approach, resulting in staffing data on 47 Romanian state-owned universities. Data collected envisaged the tenure teaching staff, divided into two gender groups; the count was focused on executive roles and collective managerial elected bodies for the 2015–2019 mandate. The gender situation was analyzed quantitatively by the number of teaching staff, their gender structure, and their representation in the executive functions and collective decision-making bodies. We calculated gender indexes and used statistical correlation coefficients to explain the relations between the different categories of personnel and their influence on establishing the management structures. The results of the gender configuration analysis were further associated with the latest national meta-ranking of Romanian universities. Our findings show that Romanian universities demonstrate sustainability under SDG5 through their institutional capacity to use either feminine majorities or a statistically detected pro-female voting propensity in order to construct optimally gendered management structures through vote only.

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“…Several countries are urging firms to increase female participation on the corporate boards, which include both emerging and developed countries, for instance, Brazil, Malaysia, Norway, UK, Spain, Sweden, and others (The Economist, 2014). Norway is the pionee r among countries to mandate gender quota in 2008 (Mateos de Cabo et al, 2019;The Economist, 2018). The country enforces a quota of 40 per cent for female members on corporate boards in the listed firms (The Economist, 2018).…”

Section: Introductionmentioning

confidence: 99%

Board gender diversity and environmental, social and governance performance of US banks: moderating role of environmental, social and corporate governance controversies

Shakil

Tasnia

Mostafiz

2020

IJBM

106

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PurposeGender diversity in corporate boards is broadly studied in existing corporate governance literature. However, the role of board gender diversity on environmental, social and governance (ESG) performance of the banks is still unaccounted for. Drawing on resource dependence and legitimacy theory, this study addresses this pressing research issue. Moreover, investigation of ESG controversies as a moderator paves the existing corporate governance research to the new avenues.Design/methodology/approachData were sourced from Refinitiv database on 37 US banks from the period of 2013 to 2017. This study employs static and dynamic panel regression models that include random effects, fixed effects and dynamic generalised method of moments (GMMs) to test the hypotheses. Furthermore, system GMM is used to reduce the issue of endogeneity, measurement error, omitted variables bias and bank-specific heterogeneity.FindingsWe identify a significant positive relationship between board gender diversity and the ESG performance of US banks. However, the result propounds non-significant moderating effect of ESG controversies on the board gender diversity–ESG performance nexus.Originality/valueLiterature on board gender diversity and ESG separately and predominantly explains firm/bank's financial performance. This study is one of the pioneering attempts to explain the role of board gender diversity on ESG performance. Although incremental, however, this study also contributes to the literature on ESG in the US context.

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Do ‘soft law’ board gender quotas work? Evidence from a natural experiment

Cited by 99 publications

References 35 publications

Gender‐diverse boards and audit fees: What difference does gender quota legislation make?

Gender‐diverse boards and audit fees: What difference does gender quota legislation make?

Gender Parity within the Gender—Sustainability Paradigm: A Case Study on Management Structures of the Romanian Academia

Board gender diversity and environmental, social and governance performance of US banks: moderating role of environmental, social and corporate governance controversies

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