Workplace Adversity and the Gender Gap in Director Retention

62 Pages Posted: 1 Nov 2022 Last revised: 4 Dec 2023

See all articles by Tim Liu

Tim Liu

University of Utah - David Eccles School of Business

Sara Malik

University of Utah - David Eccles School of Business

Jordan Schoenfeld

Ohio State University (OSU)

Date Written: December 1, 2023

Abstract

Recent economics research suggests that workplace gender gaps can derive in part from workplace adversity. This study examines this issue in the boardroom, tradition- ally a male-dominated setting. When firms face adversity by way of financial restate- ments, female directors depart boards at significantly higher rates than male directors at the same firm. These departing female directors secure fewer future directorships after departure. We find that the presence of a female chairperson mitigates female directors’ higher departure rate and that departing female directors are more likely to be replaced by men compared to departing male directors at the same firm. These findings highlight the role of workplace adversity and accounting in shaping board composition.

Keywords: corporate governance, directorships, gender gap

JEL Classification: J15, J16, J31, J71, G34, M14

Suggested Citation

Liu, Tim and Malik, Sara and Schoenfeld, Jordan, Workplace Adversity and the Gender Gap in Director Retention (December 1, 2023). Available at SSRN: https://ssrn.com/abstract=4259520 or http://dx.doi.org/10.2139/ssrn.4259520

Tim Liu (Contact Author)

University of Utah - David Eccles School of Business ( email )

1645 E Campus Center Dr
Salt Lake City, UT 84112-9303
United States

Sara Malik

University of Utah - David Eccles School of Business ( email )

1645 E Campus Center Dr
Salt Lake City, UT 84112-9303
United States

Jordan Schoenfeld

Ohio State University (OSU) ( email )

Blankenship Hall-2010
901 Woody Hayes Drive
Columbus, OH OH 43210
United States

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