Women in the boardroom and their impact on governance and performance

Journal of Financial Economics

Volumn 94, Issue 2, 2009, Pages 291-309

  Adams, Renée B ^a,c   Ferreira, Daniel ^b,c,d  

^a UNIVERSITY OF QUEENSLAND   (Australia)

^b LONDON SCHOOL OF ECONOMICS   (United Kingdom)

^c European Corporate Governance Institute   (Belgium)

^d CEPR   (United Kingdom)

Author keywords

Board effectiveness; Board of directors; Diversity; Gender

Indexed keywords

EID: 70349151758     PISSN: 0304405X     EISSN: None     Source Type: Journal    
DOI: 10.1016/j.jfineco.2008.10.007     Document Type: Article

References (37)

1. Adams R., and Ferreira D. A theory of friendly boards. Journal of Finance 62 (2007) 217-250
2. Adams R., and Ferreira D. Do directors perform for pay?. Journal of Accounting and Economics 46 (2008) 154-171
3. Adler R. Women and profits. Harvard Business Review 79 (2001) 30
4. Agrawal A., and Knoeber C. Do some outside directors play a political role?. Journal of Law and Economics 44 (2001) 179-198
5. Almazan A., and Suarez J. Entrenchment and severance pay in optimal governance structures. Journal of Finance 58 (2003) 519-547
6. Boone A., Field L., Karpoff J., and Raheja C. The determinants of corporate board size and composition: an empirical analysis. Journal of Financial Economics 85 (2007) 66-101
7. Bourez, V., 2005. Women on boards: moving beyond tokenism 〈www.EuropeanPWN.net〉.
8. Branson D. No Seat at the Table: How Corporate Governance keeps Women out of America's boardrooms (2006), New York University Press, New York
9. Bøhren, Ø., Strøm, R., 2007. Aligned informed and decisive: characteristics of value-creating boards. Unpublished working paper, Norwegian School of Management, Oslo.
10. Carter D., Simkins B., and Simpson W. Corporate governance, board diversity, and firm value. Financial Review 38 (2003) 33-53
11. Catalyst, 2003. 2003 Catalyst Census of Women Board Directors of the Fortune 1000. Catalyst, New York.
12. Catalyst, 2007. 2007 Catalyst Census of Women Board Directors of the Fortune 1000. Catalyst, New York.
13. Coles J., Daniel N., and Naveen L. Boards: does one size fit all?. Journal of Financial Economics 87 (2008) 329-356
14. Corporate Women Directors International (CWDI), 2007. Women board directors of the Fortune Global 200 〈www.globewomen.com/cwdi/CWDI.htm〉.
15. Croson, R., Gneezy, U., 2004. Gender differences in preferences. Unpublished working paper, Wharton School of Management, Philadelphia, PA.
16. Equal Opportunity for Women in the Workplace Agency (EOWA), 2006. 2006 EOWA Australian census of women in leadership 〈www.eowa.gov.au〉.
17. European Professional Women's Network (EPWN), 2004. The European PWN board women monitor 2004 〈www.europeanpwn.net/index.php?article_id=8〉.
18. Farrell K., and Hersch P. Additions to corporate boards: the effect of gender. Journal of Corporate Finance 11 (2005) 85-106
19. Ferris S., Jagannathan M., and Pritchard A. Too busy to mind the business? Monitoring by directors with multiple board appointments. Journal of Finance 58 (2003) 1087-1112
20. Fields M., and Keys P. The emergence of corporate governance from Wall St. to Main St.: outside directors, board diversity, earnings management, and managerial incentives to bear risk. Financial Review 38 (2003) 1-24
21. Gompers P., Ishii J., and Metrick A. Corporate governance and equity prices. Quarterly Journal of Economics 118 (2003) 107-155
22. Haveman H. The demographic metabolism of organizations: industry dynamics, turnover, and tenure distributions. Administrative Science Quarterly 40 (1995) 586-618
23. Hermalin B., and Weisbach M. The determinants of board composition. RAND Journal of Economics 19 (1988) 589-606
24. Hermalin B., and Weisbach M. Boards of directors as an endogenously-determined institution: a survey of the economic literature. Economic Policy Review 9 (2003) 7-26
25. Higgs, D., 2003. Review of the role and effectiveness of nonexecutive directors 〈www.dti.gov.uk/cld/non_execs_review〉.
26. Kanter R. Men and Women of the Corporation (1977), Basic Books, New York
27. Lehn, K., Patro, S., Zhao, M., 2008. Determinants of the size and composition of US corporate boards: 1935-2000. Unpublished working paper, University of Pittsburgh, Pittsburgh, PA.
28. Linck J., Netter J., and Yang T. The determinants of board structure. Journal of Financial Economics 87 (2008) 308-328
29. Medland, D., 2004. Small steps for womankind. Corporate Board Member Europe, Winter.
30. Milliken F., and Martins L. Searching for common threads: understanding the multiple effects of diversity in organizational groups. Academy of Management Review 21 (1996) 402-433
31. O'Reilly C., Caldwell D., and Barnett W. Work group demography, social integration, and turnover. Administrative Science Quarterly 34 (1989) 21-37
32. Pelled L., Eisenhardt K., and Xin K. Exploring the black box: an analysis of work group diversity, conflict, and performance. Administrative Science Quarterly 44 (1999) 1-28
33. Prendergast C. The tenuous trade-off between risk and incentives. Journal of Political Economy 110 (2002) 1071-1102
34. Turner B. The why chromosome. Australian Financial Review Magazine (March 2007) 54-61
35. Tyson, L., 2003. The Tyson report on the recruitment and development of nonexecutive directors 〈www.london.edu/tysonreport〉.
36. Wagner W., Pfeffer J., and O'Reilly C. Organizational demography and turnover in top-management groups. Administrative Science Quarterly 29 (1984) 74-92
37. Weisbach M. Outside directors and CEO turnover. Journal of Financial Economics 20 (1988) 431-460