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

Giulia Ferrari (), Valeria Ferraro (), Paola Profeta and Chiara Pronzato
Additional contact information
Giulia Ferrari: Department of Statistical Methods, INED, Institut National d’Études Démographiques, 93322 Aubervilliers Cedex, France
Valeria Ferraro: Boston College, Chestnut Hill, Massachusetts 02467

Management Science, 2022, vol. 68, issue 8, 5618-5643

Abstract: From business to politics and academia, the economic effects of gender quotas are under scrutiny. We provide new causal evidence based on the introduction of mandatory 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 stock market.

Keywords: education; age; financial markets (search for similar items in EconPapers)
Date: 2022
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Citations: View citations in EconPapers (11)

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http://dx.doi.org/10.1287/mnsc.2021.4200 (application/pdf)

Related works:
Working Paper: Do Board Gender Quotas Matter? Selection, Performance and Stock Market Effects (2018)
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