Board Diversity and Self-Regulation in Dutch Pension Funds

Equality, Diversity, and Inclusion: An International Journal (Forthcoming)

27 Pages Posted: 31 Dec 2016

See all articles by Lin Shi

Lin Shi

HEC-ULg University of Liège

Laurens Swinkels

Erasmus University Rotterdam (EUR); Robeco Quantitative Investments

Fieke van der Lecq

Vrije Universiteit Amsterdam

Date Written: December 29, 2016

Abstract

Self-regulation on diversity of Dutch pension fund boards was introduced in 2010. Our data reveals that gender diversity has only marginally improved since then. We examined the determinants of gender and age diversity of pension fund boards using data from 1,525 pension fund board members of the 200 largest pension funds in the Netherlands. Our results indicate that larger boards are more likely to satisfy diversity criteria. We also find evidence consistent with tokenism as seven boards have one member who satisfies both diversity criteria simultaneously. Hence, we conclude that this self-regulation has not yet had the desired effect.

Suggested Citation

Shi, Lin and Swinkels, Laurens and van der Lecq, Fieke, Board Diversity and Self-Regulation in Dutch Pension Funds (December 29, 2016). Equality, Diversity, and Inclusion: An International Journal (Forthcoming), Available at SSRN: https://ssrn.com/abstract=2671534

Lin Shi

HEC-ULg University of Liège

Rue Louvrex
Liège, 4000
Belgium

Laurens Swinkels (Contact Author)

Erasmus University Rotterdam (EUR) ( email )

Burgemeester Oudlaan 50
3000 DR Rotterdam, Zuid-Holland 3062PA
Netherlands

Robeco Quantitative Investments ( email )

Rotterdam, 3000
Netherlands
+31 10 224 2470 (Phone)
+31 10 224 2110 (Fax)

Fieke Van der Lecq

Vrije Universiteit Amsterdam ( email )

De Boelelaan 1105
Amsterdam, 1081HV
Netherlands

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