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Regulación de género en los consejos de administración: El papel moderador del entorno institucional

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  • Irma Martinez-Garcia
  • Silvia Gomez-Anson

Abstract

Para un panel de empresas pertenecientes al índice bursátil STOXX Europa 600 y para el período 2004-2018, se analiza cómo la regulación en materia de diversidad de género en los consejos de administración influye en la presencia de mujeres en los consejos y en sus comisiones y cómo los factores institucionales, formales e informales, moderan la relación entre regulación y presencia femenina en los consejos. Los resultados muestran que la presencia de mujeres en los consejos de administración y en sus comisiones es mayor en aquellos países que han introducido normativas en materia de diversidad de género en los consejos (recomendaciones en códigos de gobierno corporativo y cuotas), aunque las cuotas sin sanción no parecen influir de forma significativa. Los factores institucionales formales e informales moderan la relación entre la normativa y la presencia femenina en los consejos. La efectividad de la regulación sobre diversidad de género es mayor en países con niveles elevados en las dimensiones culturales relativas a la distancia al poder, el individualismo, la aversión a a incertidumbre y la orientación a corto plazo, pero es menoren los países con elevada calidad de la gobernanza y con mayor presencia de mujeres en órganos de decisión. El estudio evidencia además la existencia de diferencias tanto en la influencia del entorno institucional como factor moderador de la relación entre la regulación y la presencia de mujeres consejeras, como entre la regulación y la presencia de mujeres en las comisiones.

Suggested Citation

  • Irma Martinez-Garcia & Silvia Gomez-Anson, 2020. "Regulación de género en los consejos de administración: El papel moderador del entorno institucional," CNMV Documentos de Trabajo CNMV Documentos de Trabaj, CNMV- Comisión Nacional del Mercado de Valores - Departamento de Estudios y Estadísticas.
    • Handle: RePEc:cnv:docutr:dt_72es
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