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File name: SSRN-id780910. ; Size: 160K
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Do Women in Top Management Affect Firm Performance? A Panel Study of 2500 Danish Firms
Nina Smith
University of Aarhus - Department of Economics; Institute for the Study of Labor (IZA)
Valdemar Smith
University of Aarhus - Business and Social Sciences
Mette Verner
University of Aarhus - Centre for Research in Social Integration and Marginalization (CIM)
August 2005
IZA Discussion Paper No. 1708
Abstract:
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.
Number of Pages in PDF File: 37
Keywords: firm performance, female CEOs, board diversity, gender diversity
JEL Classification: G38, J16, M14
working papers series
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Date posted: August 11, 2005
Suggested CitationSmith, Nina, Smith, Valdemar and Verner, Mette, Do Women in Top Management Affect Firm Performance? A Panel Study of 2500 Danish Firms (August 2005). IZA Discussion Paper No. 1708. Available at SSRN: http://ssrn.com/abstract=780910
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