HUI Working Papers, HUI Research
Does Gender Diversity in the Boardroom Improve Firm Performance?
() and Niklas Rudholm
Abstract: The purpose of this paper is to investigate whether
increasing gender diversity on the board of directors improves firm
perfomance, using a data-set of 20,487 limited companies in Sweden during
1997-2005. We use a random-effects random-coefficients model to account for
unobserved firm heterogenity. More gender diversity in the boardroom is
found to have a negative impact on returns on total assets after two years.
Thus, legal requirements to increase gender diversity on the board of
directors might carry a cost in lower profitability.
Keywords: board of directors; board diversity; corporate governance; (follow links to similar papers)
JEL-Codes: G30; G34; J16; (follow links to similar papers)
52 pages, April 11, 2012
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