Gender Diversity in the Boardroom
نویسندگان
چکیده
This paper documents several significant correlations between the variability of stock returns, the structure of director compensation and the gender diversity of corporate boards. In a crosssectional sample of boards of directors of 1024 publicly traded firms in fiscal year 1998, we find three robust results: (1) firms facing more variability in their stock returns have fewer women on their boards of directors, (2) firms with more diverse boards provide their directors with more payperformance incentives, and (3) firms with more diverse boards hold more board meetings. We provide an explanation for these findings based on the idea that board diversity affects directors’ incentives to work cooperatively. We also find that female directors have fewer attendance problems at board meetings, which suggests that diverse boards can be more effective than homogenous boards. JEL classification: G30; G34; J16
منابع مشابه
Gender Diversity in Boardroom and Firm Financial Performance: Evidence from Hong Kong BY Cheung
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