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Is social capital a determinant of board gender diversity?

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  • Renee Oyotode‐Adebile
  • Nacasius U. Ujah

Abstract

We examine the impact of social capital on board gender diversity among U.S. firms. We test whether trust and social networks in a county lead to an increase in female board representation. We find that firms headquartered in high‐social‐capital counties have higher diversity in their corporate board. Economically, we estimate that a 1 standard deviation (SD) increase in social capital leads to a 0.042 SD increase in board gender diversity. We contribute to the literature by extending the evidence on board gender diversity determinants to informal institutions.

Suggested Citation

  • Renee Oyotode‐Adebile & Nacasius U. Ujah, 2021. "Is social capital a determinant of board gender diversity?," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 44(1), pages 25-52, April.
    • Handle: RePEc:bla:jfnres:v:44:y:2021:i:1:p:25-52
    DOI: 10.1111/jfir.12231
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