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Welcome on board: A note on gender quotas regulation in Europe

Bennouri, M., De Amicis, C. & Falconieri, S. (2020). Welcome on board: A note on gender quotas regulation in Europe. Economic Letters, 190, article number 109055. doi: 10.1016/j.econlet.2020.109055


Using a diff-in-diff approach, we compare the impact on board and directors’ characteristics of mandatory vs advisory regulations on gender quotas in corporate boards. We focus on the experience of three European countries: France and Italy (mandatory regime) vs UK (advisory regime). Our results show that while the percentage of Women on Boards (WoB) generally increases after the introduction of the regulation, this effect is stronger in mandatory regimes. We also find that the quality of the board, measured by several indicators such as size, busyness, qualifications, independence, generally improves more in mandatory regimes. Finally, we also document that gender quotas have had no effect on the likelihood of appointing female executives and board chairwomen in either regime.

Publication Type: Article
Additional Information: © 2020. This manuscript version is made available under the CC-BY-NC-ND 4.0 license
Publisher Keywords: gender quotas, corporate boards, mandatory, board quality
Subjects: H Social Sciences > HD Industries. Land use. Labor
H Social Sciences > HN Social history and conditions. Social problems. Social reform
H Social Sciences > HQ The family. Marriage. Woman
J Political Science > JN Political institutions (Europe)
Departments: Bayes Business School > Finance
SWORD Depositor:
[thumbnail of WoB EL CRO.pdf]
Text - Accepted Version
Available under License Creative Commons Attribution Non-commercial No Derivatives.

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