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Barriers to BoardroomsRenee B. AdamsUniversity of New South Wales, Department of Banking and Finance; ECGI; FIRN; ABFER Tom KirchmaierLondon School of Economics - Financial Markets Group (FMG) June 22, 2015 ECGI - Finance Working Paper No. 347/2013 Asian Finance Association (AsFA) 2013 Conference Abstract: Boardroom diversity policies link societal and corporate governance objectives. To understand whether they can meet both objectives, we argue one must understand why female directors are relatively underrepresented. We document that boardroom diversity is lower than most surveys suggest. We then show that across countries and US states there are more women in the director pool when more women work full time. However, working full-time may not be sufficient for women to make it to the top because of economic and cultural barriers. Our evidence suggests current boardroom diversity policies may be less effective when barriers to boardrooms are bigger.
Number of Pages in PDF File: 70 Keywords: Boardroom Diversity; Female Labor Force Participation; Culture; Quotas; Codes JEL Classification: J16, J22, G34, G38 Date posted: December 23, 2012 ; Last revised: June 22, 2015Suggested CitationContact Information
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