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Women in Top Management and Firm Performance

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Author Info

  • Smith, Nina

    ()
    (Department of Economics, Aarhus School of Business)

  • Smith, Valdemar

    ()
    (Department of Economics, Aarhus School of Business)

  • Verner, Mette

    ()
    (Department of Economics, Aarhus School of Business)

Abstract

The purpose of this study is to present new evidence on the relationship between gender diversity in management and firm performance. According to corporate governance literature, board diversity is expected to affect firm performance. Using a large data set with more than 10000 time-observations for all Danish firms with more than 50 employees over the period 1994-2003, the analysis suggests that the proportion of women in top management jobs has from none to positive influence on firm performance. However, the results show that the strength of the effects of women in top management depends on how top CEOs are defined and on the method of estimation of the model. Next, the results point towards a positive influence on firm performance of the staff representation in the supervisory board of the firm but more women representing the shareholders in the supervisory board of the firm seems to be unimportant.

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File URL: http://research.asb.dk/fbspretrieve/3874/wp_08-12
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Bibliographic Info

Paper provided by University of Aarhus, Aarhus School of Business, Department of Economics in its series Working Papers with number 08-12.

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Length: 28 pages
Date of creation: 01 Jan 2008
Date of revision:
Handle: RePEc:hhs:aareco:2008_012

Contact details of provider:
Postal: The Aarhus School of Business, Prismet, Silkeborgvej 2, DK 8000 Aarhus C, Denmark
Phone: +45 89 486396
Fax: +45 8615 5175
Web page: http://www.asb.dk/departments/nat.aspx
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Related research

Keywords: Firm performance; Female CEOs; Gender diversity in management;

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Citations

Blog mentions

As found by EconAcademics.org, the blog aggregator for Economics research:
  1. Comportamento econômico das mulheres
    by Roberto Ushisima in Empresas e Mercados on 2009-09-08 18:06:00
Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
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Cited by:
  1. Cardoso, Ana Rute & Winter-Ebmer, Rudolf, 2007. "Mentoring and Segregation: Female-Led Firms and Gender Wage Policies," CEPR Discussion Papers 6618, C.E.P.R. Discussion Papers.
  2. O'Reilly, Charles A., III & Main, Brian G. M., 2012. "Women in the Boardroom: Symbols or Substance?," Research Papers 2098, Stanford University, Graduate School of Business.

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