Does Gender Diversity in the Boardroom Improve Firm Performance?

Sven-Olov Daunfeldt and Niklas Rudholm
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Niklas Rudholm: HUI Research, Postal: Regeringsgatan 60, 103 29 Stockholm, Sweden, University of Dalarna, SE-781 88 Borlänge , Sweden,

No 60, HUI Working Papers from HUI Research

Abstract: The purpose of this paper is to investigate whether increasing gender diversity on the board of directors improves firm perfomance, using a data-set of 20,487 limited companies in Sweden during 1997-2005. We use a random-effects random-coefficients model to account for unobserved firm heterogenity. More gender diversity in the boardroom is found to have a negative impact on returns on total assets after two years. Thus, legal requirements to increase gender diversity on the board of directors might carry a cost in lower profitability.

Keywords: board of directors; board diversity; corporate governance (search for similar items in EconPapers)
JEL-codes: G30 G34 J16 (search for similar items in EconPapers)
Pages: 52 pages
Date: 2012-04-11
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (7)

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