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Does the Gender of Directors Matter?

Miriam Schwartz-Ziv

Michigan State University

December 2, 2013

I examine relatively gender-balanced boards of business companies in which the Israeli government holds a substantial equity interest. I construct a novel database based on the detailed minutes of 402 board and committee meetings of eleven such companies. I find that boards that included critical masses of at least three directors of each gender, and particularly of three women, were approximately twice as likely to request further information and to take an initiative, compared to boards without such critical masses. The ROE and net-profit-margin of these companies is also significantly larger if they have at least three women directors.

Number of Pages in PDF File: 64

Keywords: boards of directors, gender, active boards, firm performance

JEL Classification: D71, D73, G30, J01, J16, L21, M10

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Date posted: June 23, 2011 ; Last revised: December 3, 2013

Suggested Citation

Schwartz-Ziv, Miriam, Does the Gender of Directors Matter? (December 2, 2013). Available at SSRN: http://ssrn.com/abstract=1868033 or http://dx.doi.org/10.2139/ssrn.1868033

Contact Information

Miriam Schwartz-Ziv (Contact Author)
Michigan State University ( email )
315 Eppley Center
East Lansing, MI 48824-1122
United States
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References:  41

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