Board Gender Diversity in China and Eastern Europe

Ichiro Iwasaki, Xinxin Ma and Satoshi Mizobata ()

No 2023-09, CEI Working Paper Series from Center for Economic Institutions, Institute of Economic Research, Hitotsubashi University

Abstract: This paper reports on an empirical analysis of 42,094 public/private companies in China and 21 Eastern European countries to grasp the actual state and determinants of board gender diversity in emerging market firms. We confirmed that firms in these countries are comparable to those in advanced nations in terms of the prevalence of firms recruiting female board members and the female share of board directorships. Furthermore, in emerging market countries, internal promotions are used as often as, or even more often than, external ones to recruit women to director positions. The results revealed that board composition and ownership structure are important determinants of the gender diversity of the corporate board in emerging market firms. We also found that the effects of these factors vary significantly depending on the country/region and the listing status of firms and that two qualitatively different decision-making stages related to the appointment of women to board positions (i.e., a decision as to whether to appoint any women to the board and a decision as to how many board positions should be reserved for women) have a substantial impact on the empirical results.

Keywords: board gender diversity; board composition; ownership structure; emerging markets; China; Eastern Europe (search for similar items in EconPapers)
JEL-codes: D22 G32 J16 K22 L22 P31 (search for similar items in EconPapers)
Pages: 49 pages
Date: 2024-03
New Economics Papers: this item is included in nep-cfn, nep-cna, nep-gen, nep-lab and nep-tra
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Persistent link: https://EconPapers.repec.org/RePEc:hit:hitcei:2023-09

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