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• W2175868220 abstract "Prior literature shows that mandatory gender quotas are detrimental to firm value. However, little is known about causal e ects of voluntarily appointed women. A large board dataset covering 53 countries and about 500,000 people enables us to identify exogenous retirements of board members due to death or illness. Long and short-run event studies yield evidence for a positive valuation e ect of women. This is confirmed in panel regressions for the entire dataset. This positive impact is not driven by women per se, but a glass ceiling e ect due to more rigorous selection. Thus, firms can benefit from a corporate culture that fosters the promotion of women." @default.
• W2175868220 created "2016-06-24" @default.
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• W2175868220 date "2015-11-16" @default.
• W2175868220 modified "2023-09-26" @default.
• W2175868220 title "Women on Corporate Boards: Good or Bad? I" @default.
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