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Board Quotas and Director-Firm Matching

Author

Listed:
  • Daniel Ferreira

    (CEPR - Center for Economic Policy Research - CEPR)

  • Édith Ginglinger

    (DRM - Dauphine Recherches en Management - Université Paris Dauphine-PSL - PSL - Université Paris sciences et lettres - CNRS - Centre National de la Recherche Scientifique)

  • Marie-Aude Laguna

    (DRM - Dauphine Recherches en Management - Université Paris Dauphine-PSL - PSL - Université Paris sciences et lettres - CNRS - Centre National de la Recherche Scientifique)

  • Yasmine Skalli

    (DRM - Dauphine Recherches en Management - Université Paris Dauphine-PSL - PSL - Université Paris sciences et lettres - CNRS - Centre National de la Recherche Scientifique)

Abstract

We study the impact of board gender quotas on the labor market for corporate directors. We find that the annual rate of turnover of female directors falls by about a third followingthe introduction of a quota in France in 2011. This decline in turnover is more pronounced for new appointments induced by the quota, and for appointments made by firms that regularly hire directors who are members of the French business elite. By contrast, the quota has no effect on male director turnover. The evidence suggests that, by changing the director search technology used by firms, the French quota has improved the stability of director-firm matches.

Suggested Citation

  • Daniel Ferreira & Édith Ginglinger & Marie-Aude Laguna & Yasmine Skalli, 2019. "Board Quotas and Director-Firm Matching," Post-Print hal-02302287, HAL.
    • Handle: RePEc:hal:journl:hal-02302287
    Note: View the original document on HAL open archive server: https://hal.science/hal-02302287
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    Cited by:

    1. Rebérioux, Antoine & Roudaut, Gwenael, 2016. "Gender Quota inside the Boardroom: Female Directors as New Key Players?," CEPREMAP Working Papers (Docweb) 1603, CEPREMAP.
    2. Leonardo Gambacorta & Alessio Reghezza & Martina Spaggiari & Livia Pancotto, 2022. "Gender diversity in bank boardrooms and green lending: evidence from euro area credit register data," BIS Working Papers 1044, Bank for International Settlements.
    3. Homroy, Swarnodeep & Mukherjee, Shibashish, 2021. "The role of employer learning and regulatory interventions in mitigating executive gender pay gap," Journal of Corporate Finance, Elsevier, vol. 71(C).
    4. Kim, Hyemin & Fahlenbrach, Rüdiger & Low, Angie, 2023. "CEO networks and the labor market for directors," Journal of Empirical Finance, Elsevier, vol. 70(C), pages 1-21.
    5. Antoine Rebérioux & Gwenael Roudaut, 2017. "Gender Quota and Inequalities inside the Boardroom," Working Papers hal-01618949, HAL.

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    More about this item

    Keywords

    labour market; corporate directors; gender quotas;
    All these keywords.

    JEL classification:

    • G34 - Financial Economics - - Corporate Finance and Governance - - - Mergers; Acquisitions; Restructuring; Corporate Governance
    • G38 - Financial Economics - - Corporate Finance and Governance - - - Government Policy and Regulation
    • J70 - Labor and Demographic Economics - - Labor Discrimination - - - General
    • J63 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers - - - Turnover; Vacancies; Layoffs

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