Gender and Board Activeness: The Role of a Critical Mass

Miriam Schwartz-Ziv

Michigan State University

July 14, 2015

Journal of Financial and Quantitative Analysis (JFQA), Forthcoming

This study analyzes detailed minutes of board meetings of business companies in which the Israeli government holds a substantial equity interest. Boards with at least three directors of each gender are found to be at least 79% more active at board meetings than those without such representation. This phenomenon is driven by women directors in particular; they are more active when a critical mass of at least three women is in attendance. Gender-balanced boards are also more likely to replace underperforming CEOs and are particularly active during periods when CEOs are being replaced.

Number of Pages in PDF File: 55

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: July 28, 2015

Suggested Citation

Schwartz-Ziv, Miriam, Gender and Board Activeness: The Role of a Critical Mass (July 14, 2015). Journal of Financial and Quantitative Analysis (JFQA), Forthcoming. Available at SSRN: https://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 MICHIGAN 48824-1122
United States
8573127793 (Phone)
8573127793 (Fax)
HOME PAGE: http://miriamschwartzziv.wix.com/mysite
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