Board Gender Diversity and Corporate Innovation: International Evidence

70 Pages Posted: 5 Nov 2018 Last revised: 12 Aug 2019

See all articles by Dale W. Griffin

Dale W. Griffin

University of British Columbia (UBC) - Division of Marketing

Kai Li

University of British Columbia (UBC) - Sauder School of Business; China Academy of Financial Research (CAFR)

Ting Xu

University of Virginia - Darden School of Business

Date Written: August 10, 2019

Abstract

Using a novel database of firm patents and board characteristics across 45 countries, we examine both within- and cross-country determinants of board gender diversity and its relation to corporate innovation. Boards are more likely to include women in countries with narrower gender gaps, higher female labor market participation, and less masculine cultures. Firms with gender diverse boards have more patents, more novel patents, and higher innovative efficiency. Further analyses suggest that gender diverse boards are associated with more failure-tolerant and long-term CEO incentives, more innovative corporate cultures, and more diverse inventors, characteristics that are conducive to better innovative performance.

Keywords: board gender diversity; corporate innovation; patent novelty; innovative efficiency; CEO incentives; corporate culture; inventor diversity

JEL Classification: G18; G31; G32

Suggested Citation

Griffin, Dale W. and Li, Kai and Xu, Ting, Board Gender Diversity and Corporate Innovation: International Evidence (August 10, 2019). Available at SSRN: https://ssrn.com/abstract=3266080 or http://dx.doi.org/10.2139/ssrn.3266080

Dale W. Griffin

University of British Columbia (UBC) - Division of Marketing ( email )

Canada

Kai Li (Contact Author)

University of British Columbia (UBC) - Sauder School of Business ( email )

2053 Main Mall
Vancouver, BC V6T 1Z2
Canada
604-822-8353 (Phone)
604-822-4695 (Fax)

HOME PAGE: http://finance.sauder.ubc.ca/~kaili

China Academy of Financial Research (CAFR)

1954 Huashan Road
Shanghai P.R.China, 200030
China

Ting Xu

University of Virginia - Darden School of Business ( email )

P.O. Box 6550
Charlottesville, VA 22906-6550
United States

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