Do Women in Top Management Affect Firm Performance? A Panel Study of 2500 Danish Firms
Corporate governance literature argues that board diversity is potentially positively related to firm performance. This study examines the relationship in the case of women in top executive jobs and on boards of directors. We use data for the 2500 largest Danish firms observed during the period 1993-2001 and find that the proportion of women in top management jobs tends to have positive effects on firm performance, even after controlling for numerous characteristics of the firm and direction of causality. The results show that the positive effects of women in top management depend on the qualifications of female top managers.
|Date of creation:||Aug 2005|
|Date of revision:|
|Publication status:||published in: International Journal of Productivity and Performance Management, 2006, 55 (7), 569 - 593|
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References listed on IDEAS
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- Henrekson, Magnus & Du Rietz, Anita, 1999.
"Testing the Female Underperformance Hypothesis,"
Working Paper Series
521, Research Institute of Industrial Economics.
- Bell, Linda A., 2005. "Women-Led Firms and the Gender Gap in Top Executive Jobs," IZA Discussion Papers 1689, Institute for the Study of Labor (IZA).
- Morten Bennedsen & Kasper Nielsen & Francisco Pérez-González & Daniel Wolfenzon, 2005. "Inside the Family Firm: The Role of Families in Succession Decisions and Performance," CIE Discussion Papers 2005-13, University of Copenhagen. Department of Economics. Centre for Industrial Economics, revised Sep 2005.
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