Gender spillovers from supervisory boards to management boards

This study investigates gender spillovers from women on supervisory boards to management in a two-tier system with employee codetermination. The board consists of nominating committee mainly responsible for the appointment directors board. By combining similarity attraction theory power theory, we predict that only female shareholder representatives who serve drive positive effect presence boards. results correlated random effects models sample 95 German codetermined and publicly listed companies (2009–2016) confirm predicted relationship.