Where Women Make a Difference: Gender Quotas and Firms’ Performance in Three European Countries

Comi, Simona; Grasseni, Mara; Origo, Federica; Pagani, Laura

doi:10.1177/0019793919846450

Cited by 59 publications

(67 citation statements)

References 43 publications

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“…The empirical results show that women on corporate boards contribute to effective board processes and outcomes when their proposed ideas during board meetings are accepted by other board members, implemented by the management and impact positively on organizations' outcomes such as enhanced financial, product and staff outcomes. This finding seems to give credence to previous results by Srinidhi et al (2020) and Arioglu (2020) but inconsistent with prior studies that found negative outcomes (Comi et al, 2020;Martinez-Jimenez et al, 2020), or no significant impact (e.g., Arora & Singh, 2020;Zajiji et al, 2020). This result, from the perspectives of the resource dependence and resource-based theories, suggests that female directors of organizations are vital resources because they are sources of wise counsel, useful ideas and advice (Hillman & Dalziel, 2003) for making positive organizational changes or impacts.…”

Section: Discussioncontrasting

confidence: 83%

“…Empirically, various studies have examined the influence of female directors or gender diversity on the effectiveness of board processes and organizational outcomes. While some found positive results (e.g., Arioglu, 2020;Li & Li, 2020;Kilic & Kuzey, 2016;Moussa, 2019;Song et al, 2020), others found negative outcomes (Comi et al, 2020;Martinez-Jimenez et al, 2020;Yang et al, 2019) or no significant impact (e.g., Arora & Singh, 2020;Zajiji et al, 2020). This suggests that there is still a lack of consensus in the extant research on the contribution of women on corporate boards to the effectiveness of board processes and organizational effectiveness.…”

Section: Introductionmentioning

confidence: 99%

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Gendering Corporate Boards and Conditional Effectiveness of Board Processes: Insights from a Sub-Saharan African Country

Damoah

Lamptey

Anlesinya

et al. 2021

Global Business Review

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This study explored how and when female board members make effective contribution to board processes in a sub-Saharan African country (Ghana), a context characterized by low female representation on corporate boards, but highly under-researched with respect to the gender and corporate governance literature. The study is based on interview data from 25 female board directors in Ghana. The results show that women on corporate boards contribute to effective board processes and outcomes when their proposed ideas during board meetings are accepted by other board members, implemented by management and impact positively on organizational outcomes such as enhanced financial, product and staff outcomes. These effective contributions of female board directors to corporate board processes can further be enhanced by suitable female directors’ personal-level conditions such as their human capital (advanced degree and professional qualification, and past board membership experience) and family support (supportive husbands, and having grown up children), as well as board-level conditions like occupying chairperson/leadership position on the board or committees, and regular attendance at board meetings. Consequently, this research study contributed to the gender and corporate governance literature by providing new evidence from under-researched geographical context on how women on corporate boards contribute to effective board processes. It further highlights personal and board-level conditions that are necessary for greater contributions of female directors to corporate board processes and outcomes in male-dominated societies and boards.

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Section: Discussioncontrasting

confidence: 83%

Section: Introductionmentioning

confidence: 99%

Gendering Corporate Boards and Conditional Effectiveness of Board Processes: Insights from a Sub-Saharan African Country

Damoah

Lamptey

Anlesinya

et al. 2021

Global Business Review

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“…Positive impacts were also recorded by Hinnerich and Jansson (2017) in Sweden and by Ferrari et al (2016) in Italy. However, a multi-country study by Comi et al (2020) showed that quotas had either a negative or an insignificant effect on firm performance-except for Italy. Empirical studies based on quota-free identification have delivered mixed results as well (Adams, 2016;Kim and Starks, 2016).…”

Section: Relevant Literaturementioning

confidence: 99%

Women in the boardroom: a bottom–up approach to the trickle-down effect

Périlleux

Szafarz

2021

Small Bus Econ

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This paper argues that role modeling can explain the impact of boardroom gender diversity on corporate performance. It theorizes that female workers are boosted by female leadership, gain increased motivation, and achieve greater productivity, thereby making their female directors more effective. We test this bottom-up approach to the trickle-down hypothesis on data hand-collected among local cooperatives providing microcredit in Senegal. All the organizations surveyed are similar and small, which allows us to use a homogenous performance metric. All of them outsource their human resource management to the same third party, which mitigates the risk of endogeneity. The data cover over 100,000 triads composed of: gender dominance on the board, gender of CEO, and gender of credit officer. A better financial performance is achieved when the triad is gender-uniform-be it male or female-confirming the importance of role modeling and suggesting that the performance of female board members depends on the gender composition of the workforce.

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“…Así, por ejemplo, Mateos de Cabo et al ( 2019) encuentran, para una muestra de empresas pequeñas y medianas que sólo el 9 % de las empresas analizadas cumplían con la cuota, revelando su falta de efectividad. Los estudios sobre el impacto de las recomendaciones de genero incluidas en los códigos de gobierno corporativo son aún escasos (Willey, 2017), así como los estudios sobre el impacto de las propuestas de cuotas (Hinnerich y Jansson, 2017) y los estudios con perspectiva comparada (Comi et al, 2017;Labelle et al, 2015;Lending y Vahamma, 2017;Sojo et al, 2016). La ausencia de una amplia evidencia empírica sobre el impacto de los códigos y las propuestas de cuotas, y la evidencia empírica no concluyente sobre el efecto de las cuotas señala la necesidad de seguir investigando para examinar el impacto de la normativa que trata de promover la diversidad de género en los consejos sobre la presencia de las mujeres en los consejos de administración (y en los comités), sobre las tipologías de consejero, características de las mujeres consejeras, también sobre la presencia de mujeres en la alta dirección; y sobre su impacto en el comportamiento de la empresa.…”

Section: Bases Teóricas E Hipótesis De Trabajounclassified

Diversidad de género en los consejos de administración: El efecto de la normativa en la presencia de mujeres en las empresas españolas cotizadas

Martínez-García¹,

Sacristán-Navarro²,

Gómez‐Ansón³

2020

ADR

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This paper studies the implication on Spanish listed companies´ corporate governance structures of regulations that aim to promote gender diversity on boards-code of good governance, Spanish national quota legislation and the proposal of Directive of the European Commission-. Design / Methodology / Approach:We analyze the changes in corporate governance, using statistical techniques for related samples and panel data that relate to gender diversity for Spanish listed companies from 2003-2016. Results:The results show a slow positive trend of women in corporate governance of Spanish listed companies as well as a positive effect of gender diversity on boards' regulation, although not for all variables studied. In fact, the percentage of women executive directors, Chairwoman and women CEOs, and the percentage of women in executive committees are very low over all the studied period. Besides, the effect on women presence in corporate governance structures is higher for national normatives, code and quota, than for the threat of the European Directive.Limitations / Implications: The main paper limitations are associated to the sample used (listed firms) and to the institution context (the Spanish case). The quota approved by the Spanish Equality Act affects large firms, not just quoted firms. Spanish institutional environment and its characteristics may affect the effects associated to the law. In different institutional environments, the results could differ The paper reveals the positive effect on women' s presence in corporate governance structures of legislation that promotes women on boards. Nevertheless, there still remains a long trend to achieve parity. Gender diversity on corporate governance structures has important implication for corporate reputation.Originality / Contribution: We analyze the impact of gender diversity regulation on women presence on boards of directors. We extend the analysis considering directors' typology and other corporate boards i.e. board committees and TMT.

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Where Women Make a Difference: Gender Quotas and Firms’ Performance in Three European Countries

Cited by 59 publications

References 43 publications

Gendering Corporate Boards and Conditional Effectiveness of Board Processes: Insights from a Sub-Saharan African Country

Gendering Corporate Boards and Conditional Effectiveness of Board Processes: Insights from a Sub-Saharan African Country

Women in the boardroom: a bottom–up approach to the trickle-down effect

Diversidad de género en los consejos de administración: El efecto de la normativa en la presencia de mujeres en las empresas españolas cotizadas

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