Corporate Leadership and Inherited Beliefs about Gender Roles

Forthcoming, Journal of Financial and Quantitative Analysis

57 Pages Posted: 29 Oct 2018 Last revised: 29 Jun 2022

See all articles by R. David McLean

R. David McLean

Georgetown University - McDonough School of Business

Christo A. Pirinsky

University of Central Florida

Mengxin Zhao

Independent; Securities and Exchange Commission (SEC)

Date Written: June 27, 2022

Abstract

Some U.S. firms have women directors and executives, while many do not. We seek to explain this heterogeneity. Using U.S. Census data from 1900, we find that U.S. Counties with populations originating from countries with stronger gender-egalitarian beliefs have more women in the labor market and in STEM occupations, and lower gender-pay gaps. Firms headquartered in such counties have more women executives and directors. When firms move to more gender-egalitarian counties, the representation of women on boards increases. Our findings are consistent with the idea that inherited beliefs about gender roles impact the labor market and corporate leadership.

Keywords: gender gap; women executives; women board members; regional culture

JEL Classification: G30, J16, J70, Z1

Suggested Citation

McLean, R. David and Pirinsky, Christo Angelov and Zhao, Mengxin and Zhao, Mengxin, Corporate Leadership and Inherited Beliefs about Gender Roles (June 27, 2022). Forthcoming, Journal of Financial and Quantitative Analysis, Available at SSRN: https://ssrn.com/abstract=3266169 or http://dx.doi.org/10.2139/ssrn.3266169

R. David McLean (Contact Author)

Georgetown University - McDonough School of Business ( email )

3700 O Street, NW
Washington, DC 20057
United States

Christo Angelov Pirinsky

University of Central Florida ( email )

College of Business Administration/Finance
PO Box 161400
Orlando, FL FL 32816
United States
407-823-5962 (Phone)

Mengxin Zhao

Independent

Securities and Exchange Commission (SEC) ( email )

450 Fifth Street, NW
Washington, DC 20549-1105
United States

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