Changing the Corporate Elite? Not So Easy. Female Directors’ Appointments onto Corporate Boards
AbstractScholars have previously investigated country and organizational-level factors associated with the incidence of female directors on boards. These studies, however, cannot explain why, in countries with strong gender equality and pressure for female directorships, firms are still hesitant to promote new women to their boards. To address this issue we – in this study – introduce the cognitive and affective processes related to directors’ identification with the traditional corporate elite as an explanation for the slow organizational response to pressure for gender diversity on boards. We bridge the social identity and critical mass theory to further show how these responses may vary with the current composition of the board. Viewing the board as a locus for the maintenance of the positive distinctiveness of the established corporate elite, we conjecture that new female appointments will not only depend on the current share of women on board but also on the current (minority) share of board positions held by male directors who are not prototypical of the established elite. We also uncover how this relationship is moderated by the share of institutional investors’ ownership. We test and support these propositions on a sample of 387 publicly traded Nordic corporations during 2001–2008.
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Bibliographic InfoPaper provided by Research Institute of Industrial Economics in its series Working Paper Series with number 978.
Length: 33 pages
Date of creation: 19 Sep 2013
Date of revision:
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Social identity; Board of director; Gender diversity;
Find related papers by JEL classification:
- D22 - Microeconomics - - Production and Organizations - - - Firm Behavior: Empirical Analysis
- F23 - International Economics - - International Factor Movements and International Business - - - Multinational Firms; International Business
- F66 - International Economics - - Economic Impacts of Globalization - - - Labor
- G34 - Financial Economics - - Corporate Finance and Governance - - - Mergers; Acquisitions; Restructuring; Corporate Governance
- M16 - Business Administration and Business Economics; Marketing; Accounting - - Business Administration - - - International Business Administration
This paper has been announced in the following NEP Reports:
- NEP-ALL-2013-10-02 (All new papers)
- NEP-DEM-2013-10-02 (Demographic Economics)
- NEP-HME-2013-10-02 (Heterodox Microeconomics)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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