Women on Boards in Finance and STEM Industries
AbstractWe document that women are less represented on corporate boards in Finance and more traditional STEM industry sectors. Even after controlling for differences in firm and country characteristics, average diversity in these sectors is 24% lower than the mean. Our findings suggest that well-documented gender differences in STEM university enrolments and occupations have long-term consequences for female business leadership. The leadership gap in Finance and STEM may be difficult to eliminate using blanket boardroom diversity policies. Diversity policies are also likely to have a different impact on firms in these sectors than in non-STEM sectors.
CitationAdams, Renée B., and Tom Kirchmaier. 2016. "Women on Boards in Finance and STEM Industries." American Economic Review, 106 (5): 277-81. DOI: 10.1257/aer.p20161034
- G34 Mergers; Acquisitions; Restructuring; Voting; Proxy Contests; Corporate Governance
- G38 Corporate Finance and Governance: Government Policy and Regulation
- I23 Higher Education; Research Institutions
- J16 Economics of Gender; Non-labor Discrimination