Revisiting gender board diversity and firm performance

Joanna Tyrowicz, Sebastian Zalas and Katarzyna Bech - Wysocka
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Sebastian Zalas: University of Warsaw
Katarzyna Bech - Wysocka: Group for Research in Applied Economics (GRAPE)
Authors registered in the RePEc Author Service: Katarzyna Bech-Wysocka ()

No 95, GRAPE Working Papers from GRAPE Group for Research in Applied Economics

Abstract: We study the effects of gender board diversity on firm performance. We use novel and rich firm-level data covering over seven million private and public firms spanning the years 1995- 2020 in Europe. We augment a standard TFP estimation with firm fixed effects to explore the role of gender board diversity. We construct a shift-share instrument for gender board diversity and find that increasing the share of women on boards is conducive to better economic performance. The results prove robust to a variety of sensitivity analysis. This outcome is driven primarily by firms from the service sector and by smaller firms. The impact was stronger during the early years of our sample.

Keywords: firm performance; gender board diversity (search for similar items in EconPapers)
JEL-codes: D22 J16 J88 L25 (search for similar items in EconPapers)
Pages: 20 pages
Date: 2024
New Economics Papers: this item is included in nep-bec, nep-eff, nep-hrm, nep-lab and nep-sbm
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Persistent link: https://EconPapers.repec.org/RePEc:fme:wpaper:95

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