University Grenoble Alpes, Grenoble INP, CERAG, Grenoble 38000, France

This study investigates the impact of the French gender quota law on women's inclusion in monitoring and advisory committees and their influence on strategic decision-making in SBF 120 listed firms from 2005 to 2017. The research aims to address the gap in literature regarding the direct effects of gender quota laws on advisory committee composition and functioning compared to mandatory monitoring committees. The study is grounded in Agency theory and Upper Echelons theory, which suggest that female directors play a crucial role in monitoring and shaping strategic direction. The study employs panel logistic regression to examine the likelihood of female appointments and panel-corrected standard error (PCSE) models to assess the proportion of female directors and their impact on strategic decisions. The results indicate that the 2011 gender quota law led to a significant increase in female representation in both types of committees, with a more pronounced effect on monitoring committees. The second stage of the law had a greater impact on committee composition, suggesting proactive measures by boards to comply with the legislation. However, the study found that female members in monitoring and advisory roles did not significantly influence decision-making processes before or after the law's implementation, indicating a potential tokenistic approach to gender diversity. Overall, the findings suggest that while the gender quota law in France has increased female representation, it may not have empowered women in decision-making roles within corporate governance structures