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A Female Style in Corporate Leadership? Evidence from Quotas

American Economic Journal: Applied Economics, Forthcoming

82 Pages Posted: 9 Jul 2010 Last revised: 14 Dec 2012

David A. Matsa

Northwestern University - Kellogg School of Management; National Bureau of Economic Research (NBER)

Amalia R. Miller

University of Virginia - Department of Economics

Date Written: December 13, 2012

Abstract

This paper studies the impact of gender quotas for corporate board seats on corporate decisions. We examine the introduction of Norway’s 2006 quota, comparing affected firms to other Nordic companies, public and private, that were unaffected by the rule. We find that affected firms undertook fewer workforce reductions than comparison firms, increasing relative labor costs and employment levels and reducing short-term profits. The effects are strongest among firms without female board members beforehand and are present even for boards with older and more experienced members afterward. The boards appear to be affecting corporate strategy in part by selecting likeminded executives.

JEL Classification: G34, G38, M51, J78, J16

Suggested Citation

Matsa, David A. and Miller, Amalia R., A Female Style in Corporate Leadership? Evidence from Quotas (December 13, 2012). American Economic Journal: Applied Economics, Forthcoming. Available at SSRN: https://ssrn.com/abstract=1636047 or http://dx.doi.org/10.2139/ssrn.1636047

David A. Matsa (Contact Author)

Northwestern University - Kellogg School of Management ( email )

2001 Sheridan Road
Evanston, IL 60208
United States
847-491-8337 (Phone)
847-491-5719 (Fax)

National Bureau of Economic Research (NBER) ( email )

1050 Massachusetts Avenue
Cambridge, MA 02138
United States

Amalia R. Miller

University of Virginia - Department of Economics ( email )

P.O. Box 400182
Charlottesville, VA 22904-4182
United States

HOME PAGE: http://people.virginia.edu/~am5by/

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