Do Board Gender Quotas Matter? Selection, Performance, and Stock Market Effects

• 成果类型: Article
• 署名作者: Ferrari, Giulia; Ferraro, Valeria; Profeta, Paola; Pronzato, Chiara
• 署名单位: Boston College; Bocconi University; Bocconi University; University of Turin; Collegio Carlo Alberto
• 刊物名称: MANAGEMENT SCIENCE
• ISSN/ISSBN: 0025-1909
• DOI: 10.1287/mnsc.2021.4200
• 发表日期: 2022
• 页码: 5618-5643
• 关键词: education; AGE; financial markets

摘要

From business to politics and academia, the economic effects of gender quotas are under scrutiny. We provide newcausal evidence based on the introduction ofmandatory gender quotas for boards of directors of Italian listed companies. Exploiting staggered board elections, we find that quotas are associated with a new selection of board members, characterized by higher education and lower age, and no significant costs on firm performance or the stockmarket.