Disentangling Discrimination on Spanish Boards of Directors

Corporate Governance: An International Review

Volumn 19, Issue 1, 2011, Pages 77-95

  De Cabo, Ruth Mateos ^a   Gimeno, Ricardo ^b   Escot, Lorenzo ^c  

^a UNIVERSIDAD SAN PABLO CEU   (Spain)

^b BANCO DE ESPAÑA   (Spain)

^c UNIVERSIDAD COMPLUTENSE DE MADRID   (Spain)

Author keywords

Board of Directors; Corporate Governance; Gender Discrimination; Glass Ceiling

Indexed keywords

EID: 78650719612     PISSN: 09648410     EISSN: 14678683     Source Type: Journal    
DOI: 10.1111/j.1467-8683.2010.00837.x     Document Type: Article

References (57)

1. Adams, R. & Ferreira, D. 2004. Diversity and incentives in teams: Evidence from corporate boards. Working paper. New York: Federal Reserve Bank of New York.
2. Adler, R. 2001. Women in the executive suite correlate to high profits. Harvard Business Review, 79: 3-18.
3. Agrawal, A. & Knowber, C. R. 2001. Do some outside directors play a political role? Journal of Law and Economics, 44: 179-198.
4. Albert-Roulhac, C. 2005. Corporate governance in Europe: What's the outlook? England. Chicago: Heidrick & Struggles International.
5. Altman, E. 1968. Financial ratios, discriminant analysis and the prediction of corporate bankruptcy. Journal of Finance, 23: 589-609.
6. Becker, G. 1957. The economics of discrimination, 2nd edn. Chicago: University of Chicago Press.
7. Bertrand, M., Dolly, C. & Mullainathan, S. 2005. Implicit discrimination. The American Economic Review, 95: 94-98.
8. Bertrand, M., Goldin, C. & Katz, L. F. 2009. Dynamics of the gender gap for young professionals in the corporate and financial sectors. NBER Working Paper Series, w14681.
9. Bertrand, M. & Hallock, K. 2001. The gender gap in top corporate jobs. Industrial and Labor Relations Review, 55(1): 3-21.
10. Brammer, S., Millington, A. & Pavelin, S. 2007. Gender and ethnic diversity among UK corporate boards. Corporate Governance: An International Review, 15: 393-403.
11. Carleton, W., Nelson, M. & Weisbach, M. 1998. The influence of institutions on corporate governance through private negotiations: Evidence from TIAA-CREFF. Journal of Finance, 53: 1335-1362.
12. Carter, D., D'Souza, F., Simkins, B. & Simpson, G. 2010. The gender and ethnic diversity of US boards and board committees and firm financial performance. Corporate Governance: An International Review, 18: 396-414.
13. Carter, D., Simkins, B. & Simpson, G. 2003. Corporate governance, board diversity, and firm value. Financial Review, 38: 33-53.
14. Catalyst 2004. The bottom line: Connecting corporate performance and gender diversity. New York: Catalyst.
15. Cavalluzzo, K., Cavalluzzo, L. & Wolken, J. 2002. Competition, small business financing, and discrimination: Evidence from a new survey. Journal of Business, 75: 641-679.
16. Constitutional Act 3/2007 of 22 March for Effective Equality between Women and Men, BOE n°71, 23 March 2007.
17. Dalton, D. R., Daily, C. M. Ellstrand, A. E., & Johnson, J. L. 1998. Meta-analytic reviews of board composition, leadership structure, and financial performance. Strategic Management Journal, 19: 269-290.
18. De Anca, C. 2008. Women on corporate boards of directors in Spanish listed companies. In S. Vinnicombe, V. Singh, R. Burke, D. Bilimoria & M. Huse (Eds.), Women on corporate boards of directors: International research and practice: 96-107. Cheltenham: Edward Elgar.
19. De la Rica, S., Dolado, J. & Llorens, V. 2008. Ceilings or floors? Gender wage gaps by education in Spain. Journal of Population Economics, 21: 751-778.
20. Dolado, J., Felgueroso, F. & Jimeno, J. 2004. Where do women work?: Analyzing patterns in occupational segregation by gender. Annales d'economie et de statistique, 71-72: 293-315.
21. Erhardt, N., Verberl, J.-D. & Shrader, C. 2003. Board of director diversity and firm financial performance. Corporate Governance: An International Review, 11: 102-111.
22. Ethical Investment Research Service 2004. Female Directors in the World. March 2004.
23. European Professional Women's Network 2004. European board women monitor 2004. Paris: European Professional Women's Network & Egon Zehnder International.
24. Farrell, K. & Hersch, P. 2005. Additions to corporate boards: The effect of gender. Journal of Corporate Finance, 11: 85-106.
25. Félez, M., Romero, A., Pueyo, R. & Llaría, J. 2004. Gender and Boards of Directors of IBEX 35's companies. Working paper. Zaragoza: Fundación Ecología y Desarrollo.
26. Fryxell, G. & Lerner, L. 1989. Contrasting corporate profiles: Women and minority representation in top management positions. Journal of Business Ethics, 8: 341-352.
27. Garay, U. & González, M. 2008. Corporate governance and firm value: The case of Venezuela. Corporate Governance An International Review, 16: 194-209.
28. Gersik, K., Davis, J., Hampton, M. & Lansberg, I. 1997. Generation to generation: Life cycles of the family business. Boston, MA: Harvard Business School Press.
29. Gillan, S. & Starks, L. 2000. Corporate governance proposals and shareholder activism: The role of institutional investors. Journal of Financial Economics, 57: 275-305.
30. Gómez Ansón, S. 2005. Gender diversity on boards of directos of listed companies and saving banks in Spain. Working paper, no. 12. Madrid: Fundación de Estudios Finacieros.
31. Harrigan, K. 1981. Numbers and positions of women elected to corporate boards. Academy of Management Journal, 24: 619-625.
32. Hausmann, R., Tyson, D. L. & Zahidi, S. 2009. The global gender gap report. Geneva: Word Economic Forum.
33. Heckman, J. 1998. Detecting discrimination. Journal of Economic Perspectives, 12: 101-116.
34. Jianakoplos, N. A. & Bernasek, A. 1998. Are women more risk averse? Economic Inquiry, 36: 620-630.
35. Johnson, J. E. V. & Powell, P. L. 1994. Decision making, risk, and gender: Are managers different? British Journal of Management, 5: 123-138.
36. Lee, J. & Nolan, R. 1998. The relationship between mentoring and the career advancement of women administrators in cooperative extension. Journal of Career Development, 25: 3-13.
37. Linck, J., Netter, J., & Yang, T. 2008. The determinants of board structure. Journal of Financial Economics, 87: 308-328.
38. Long, J. S. 1997. Regression models for categorical and limited dependent variables. London: Sage.
39. Milliken, F. J. & Martins, L. L. 1996. Searching for common threads: Understanding the multiple effects of diversity in organizational groups. The Academy of Management Review, 21(2): 402-433.
40. Morrison, A., White, R. & Van Velsor, E. 1987. Breaking the glass ceiling. New York: Addison-Wesley.
41. Natividad, I. 2002. Women board of directors of Spain's top companies. Washington, D.C.: Corporate Women Directors International.
42. Osteryoung, J. S. & Newman, D. 1993. What is small business? The Journal of Small Business Finance, 2: 219-231.
43. Phelps, E. S. 1972. The statistical theory of racism and sexism. American Economic Review, 62: 659-661.
44. Point, S. & Singh, V. 2003. Defining and dimensionalising diversity: Evidence form corporate websites across Europe. European Management Journal, 21: 750-761.
45. Powell, G. & Butterfield, A. 1994. Investigating the "glass ceiling" phenomenon: An empirical study of actual promotions to top management. Academy of Management Journal, 37: 68-86.
46. Rhoades, S. 1993. The Herfindahl-Hirschman Index. Federal Reserve Bulletin, 79: 188-189.
47. Rodríguez Mora, J. V. 2009. The misallocation of talent. Els Opuscles del Centre de Recerca en Economia Internacional (CREI).Barcelona: CREI.
48. Ruigrok, W., Peck, S. & Tacheva, S. 2007. Nationality and gender diversity on Swiss corporate boards. Corporate Governance: An International Review, 15: 546-557.
49. Schubert, R., Brown, M., Grysler, M. & Brachinger, W. 1999. Financial decision-making: Are women really more risk-averse? American Economic Review, 89: 381-385.
50. Singh, V., Terjesen, S. & Vinnicombre, S. 2008. Newly appointed directors in the boardroom: How do women and men differ? European Management Journal, 26: 48-58.
51. Spencer Stuart 2004. Spain 2004. Spencer Stuart Index of Board of Directors. Madrid: Spencer Stuart.
52. Sundén, A. E. & Surette, B. J. 1998. Gender differences in the allocation of assets in retirement savings plans. American Economic Review, 88: 207-211.
53. Terjesen, S., Sealy, R. & Singh, V. 2009. Women directors on corporate boards: A review and research agenda. Corporate Governance: An International Review, 17: 320-337.
54. Terjesen, S. & Singh, V. 2008. Female presence on corporate boards: A multi-country study of environmental context. Journal of Business Ethics, 83: 55-63.
55. Van der Walt, N. & Ingley, C. 2003. Board dynamics and the influence of professional background, gender, and ethnic diversity of directors. Corporate Governance: An International Review, 11: 218-234.
56. Wolfers, J. 2006. Diagnosing discrimination: Stock returns and CEO gender. Journal of the European Economic Association, 4(2-3): 531-541.
57. Zahra, S., Neubaum, D. & Huse, M. 2000. Entrepreneurship in medium-size companies: Exploring the effects of ownership and governance systems. Journal of Management, 26: 947-976.