Female Representation on Corporate Boards in Europe: The Interplay of Organizational Social Consciousness and Institutions
Cynthia E. Clark (),
Punit Arora () and
Patricia Gabaldon ()
Additional contact information
Cynthia E. Clark: Bentley University
Punit Arora: City University of New York
Patricia Gabaldon: IE Business School
Journal of Business Ethics, 2022, vol. 180, issue 1, No 11, 165-186
Abstract:
Abstract We examine the role of alignment between organizational social consciousness and the informal and formal institutions of a country in increasing female representation on boards. Using fixed-effects and Hausman Taylor regression methodology for endogenous covariate with panel data for the years 2006–2020, we find that the greater the alignment between organizational social consciousness and certain formal (i.e., a gender quota) and informal (i.e., high gender equality) institutions, the more progress there is toward gender representation on corporate boards in Europe. We also find that more socially conscious firms make the most progress, often going beyond the minimum regulatory targets. By showing the complementarity of these factors, we address the enduring question of how the interplay of formal and informal institutions directly affects corporate behavior, thus contributing to the institutional, public policy/regulatory, and corporate governance literatures. We note the need for policymakers to go beyond mere codification of rules via quotas and simultaneously work toward raising national and organizational social consciousness levels on issues of gender equality.
Keywords: Formal and informal institutions; Institutional alignment; Organizational Social Consciousness (OSC); Boards of Directors; Gender diversity (search for similar items in EconPapers)
Date: 2022
References: View references in EconPapers View complete reference list from CitEc
Citations:
Downloads: (external link)
http://link.springer.com/10.1007/s10551-021-04898-x Abstract (text/html)
Access to full text is restricted to subscribers.
Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
HTML/Text
Persistent link: https://EconPapers.repec.org/RePEc:kap:jbuset:v:180:y:2022:i:1:d:10.1007_s10551-021-04898-x
Ordering information: This journal article can be ordered from
http://www.springer. ... cs/journal/10551/PS2
DOI: 10.1007/s10551-021-04898-x
Access Statistics for this article
Journal of Business Ethics is currently edited by Michelle Greenwood and R. Edward Freeman
More articles in Journal of Business Ethics from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().