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Realizing Gender Diversity on Corporate Boards

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journal contribution
posted on 2023-07-26, 16:01 authored by Wei Kang, John K. Ashton, Ayan Orujov, Yang Wang
This study examines the effectiveness of soft law through scrutinizing national policies for enhancing the proportion of women on corporate boards. Soft laws, which have less precision and obligation dimensions than conventional laws, are widespread within financial regulation. Despite this widespread use there relative performance is unexplored. To resolve this, we undertake a comparative examination of 14,012 firms from 99 nations, using a three-stage analysis to examine the effect of different policies, their format and influence of institutional factors on female board representation. We report that soft laws are effective for promoting gender equality on corporate boards. The effectiveness of policies is strongly influenced by the enforcement, implementation and compliance dimensions of policy, and institutional factors. Policies are most potent when enforced using a moderate level of sanctions, with a longer compliance period and a diversity target less distant from a firm’s precedent gender diversity level.

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Refereed

  • Yes

Publication title

International Journal of the Economics of Business

ISSN

1466-1829

Publisher

Informa UK Limited

File version

  • Published version

Language

  • eng

Legacy posted date

2022-11-11

Legacy creation date

2022-11-11

Legacy Faculty/School/Department

Faculty of Business & Law

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