Abstract

http://ssrn.com/abstract=1475152
 
 

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Beyond the Glass Ceiling: Does Gender Matter?


Renee B. Adams


University of New South Wales; Financial Research Network (FIRN); European Corporate Governance Institute (ECGI)

Patricia Funk


Universitat Pompeu Fabra

December 1, 2009

UPF Working Paper Series
ECGI - Finance Working Paper No. 273/2010

Abstract:     
The representation of women in top corporate officer positions is steadily increasing. However, little is known about the impact this will have. A large literature documents that women are different from men in their choices and in their preferences, but most of this literature relies on samples of college students or workers at lower levels in the corporate hierarchy. If women must be like men to break the glass ceiling, we might expect gender differences to disappear among top executives. In contrast, using a large survey of directors, we show that female and male directors differ systematically in their core values and risk attitudes. While certain population gender differences disappear at the director level, others do not. Consistent with the findings for the general population, female directors are more benevolent and universally concerned, but less power-oriented than men. However, they are less traditional and security-oriented than their male counterparts. Furthermore, female directors are slightly more risk-loving than male directors. This suggests that having a women on the board need not lead to more risk-averse decision-making.

Number of Pages in PDF File: 70

Keywords: Female Directors, Directors, Gender, Boards, Values, Risk

JEL Classification: J16, G30

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Date posted: September 20, 2009 ; Last revised: July 23, 2012

Suggested Citation

Adams, Renee B. and Funk, Patricia, Beyond the Glass Ceiling: Does Gender Matter? (December 1, 2009). UPF Working Paper Series; ECGI - Finance Working Paper No. 273/2010. Available at SSRN: http://ssrn.com/abstract=1475152 or http://dx.doi.org/10.2139/ssrn.1475152

Contact Information

Renée B. Adams
University of New South Wales ( email )
Sydney, NSW 2052
Australia
+61(2)93854280 (Phone)

Financial Research Network (FIRN)
C/- University of Queensland Business School
St Lucia, 4071 Brisbane
Queensland
Australia
HOME PAGE: http://www.firn.org.au

European Corporate Governance Institute (ECGI)
c/o ECARES ULB CP 114
B-1050 Brussels
Belgium
HOME PAGE: http://www.ecgi.org
Patricia Funk (Contact Author)
Universitat Pompeu Fabra ( email )
Ramon Trias Fargas, 25-27
Barcelona, Barcelona 08005
Spain
+34 94 5421942 (Phone)
+34 93 5421746 (Fax)
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