Binders Full of Women & Closing the Gap

Abstract

Presidential candidate Mitt Romney used the phrase “binders full of women” to claim he sought out women to fill high administrative positions when he became Governor of Massachusetts. The European Commission has proposed a Directive that would require the EU Member States to require the boards of directors of corporations listed on stock exchanges in their countries to be made up of “40% of the underrepresented gender” for non-executive, outside director seats. This paper will explore the Directive, show how it fits within the EU’s larger Europe Strategy 2020. It will also look to whether implementing such a quota will change the way these corporations make decisions, especially as related to questions of equal opportunity for women. Finally, it compares the approach of the EU and the US to affirmative action.

Keywords: Affirmative action, Gender Equality, European Commision Gender Directive, Women Directors, Europe Strategy 2020

JEL Classification: J71, J78, K22, K31