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Gender Quotas and Support for Women in Board Elections

Marina Gertsberg, Johanna Mollerstrom and Michaela Pagel

No 28463, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: We study shareholder support for corporate board nominees before and after the 2018 California gender quota. Pre-quota, new female nominees received greater support than new male nominees, consistent with women being held to a higher standard. Post-quota, as the number of women increased, support for new (mandated) female nominees decreased to the same level of, but not lower than, the support that new male nominees enjoy. Still, share prices reacted negatively to the quota. We show that this reaction was concentrated in firms that did not turn over their least-supported male directors when adding women to comply with the quota.

JEL-codes: G3 J16 J7 (search for similar items in EconPapers)
Date: 2021-02
New Economics Papers: this item is included in nep-gen and nep-lma
Note: CF LS
References: Add references at CitEc
Citations: View citations in EconPapers (1)

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