Gender equality within boards: comparing quota and soft law

Sophie Harnay (), Fabienne Llense (), Antoine Rebérioux () and Gwenaël Roudaut ()
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Sophie Harnay: Université Paris Nanterre
Fabienne Llense: Université Paris Nanterre
Antoine Rebérioux: Université Paris Cité
Gwenaël Roudaut: Ecole Polytechnique

European Journal of Law and Economics, 2024, vol. 57, issue 1, No 1, 35 pages

Abstract: Abstract In 2011, Britain and France introduced affirmative action policies aiming at improving board gender mix in listed companies. While the reforms were similar in terms of target and timing, Britain opted for a ‘soft law’ (comply or explain) approach, while France enacted a mandatory quota. Using difference-in-differences analyses, we examine the differential impact of these two reforms on board composition and on women empowerment within boards. We first show that the quota has been associated with a more rapid adjustment of the gender mix without significant disruptive effects on board composition. However, we report that the quota has induced a more limited access of women to monitoring committees within boards, relative to soft law. As these committees are the most influential, this evidence shows that the quota came at a cost when considering within-board women’s influence.

Keywords: Company boards; Gender inequalities; Leadership positions; Quota; Soft law; Board committees (search for similar items in EconPapers)
JEL-codes: G34 G38 J16 J78 K22 (search for similar items in EconPapers)
Date: 2024
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DOI: 10.1007/s10657-024-09795-y

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