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Discussion Paper Details

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Title: Gender diversity in corporate boards: Evidence from quota-implied discontinuities

Author(s): Olga Kuzmina and Valentina Melentyeva

Publication Date: June 2020

Keyword(s): Gender diversity, Gender quota, Performance and women in boards

Programme Area(s): Financial Economics, International Trade and Regional Economics, Labour Economics and Public Economics

Abstract: We use data across European corporate boards to investigate the effects of quota-induced female representation, under minimal possible identification assumptions. We find that having more women in board causally increases Tobin's Q, despite some negative effects on operating performance and more likely employment downsizings. We interpret this evidence as firms scaling down inefficient operations. Our results highlight that gender quotas are not necessarily a costly way of promoting equality.

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Bibliographic Reference

Kuzmina, O and Melentyeva, V. 2020. 'Gender diversity in corporate boards: Evidence from quota-implied discontinuities'. London, Centre for Economic Policy Research. https://cepr.org/active/publications/discussion_papers/dp.php?dpno=14942