This study investigates the effect of country-level emancipative forces on corporate gender diversity around the world. Based on Welzel’s theory of emancipation, we develop an emancipatory framework of board gender diversity that explains how action resources, emancipative values and civic entitlements enable, motivate and encourage women to take leadership roles on corporate boards. Using a sample of 6390 firms operating in 30 countries around the world, our results show positive single and combined effects of the framework components on board gender (...) diversity. Our research adds to the existing literature in a twofold manner. First, our integrated framework offers a more encompassing, complete and theoretically richer picture of the key drivers of board gender diversity. Second, by testing the framework empirically, we extend the evidence on national drivers of board gender diversity. (shrink)

This paper presents a literature review offering a thorough and critical systematization of articles investigating the influence of women directors on corporate social performance (CSP). We review the state-of-the-art literature in terms of its key assumptions, theories, and conceptualization of CSP. Our analysis shows a misfit between the theorization and operationalization of gender diversity, especially in quantitative empirical studies, which represent the majority of articles. In our overview of both conceptual and empirical studies, we identified three main theoretical dimensions, which (...) are contingent upon board-level and institution-level dimensions. Based on our proposed framework, we call for future researchers to focus on novel research questions and innovative research designs to investigate women’s contributions to CSP and challenge the theoretical assumptions about the role of women on boards. (shrink)

We show unintended consequences of quota regulations to get women on boards. Board members may have different characteristics, and even among women, there are variations. We assume that the characteristics of the board members have an influence on their contributions to boards, to businesses as well as to society. In this paper, we argue that different types of societal pressure to get women on boards have an influence on the social capital characteristics of the women getting multiple board memberships. The (...) paper is drawing on institutional theory and social capital theory, and we distinguish between mimetic, normative, and coercive types of pressure. Through a cluster analysis of 58 Italian “golden skirts”, we show that different types of societal pressure may lead to differences in social capital characteristics. The study has implications for the ongoing international debate about women and diversity on boards, and we propose developing a pressure theory for getting women on boards. (shrink)

Scholars have emphasized the potential of self-regulation, realized through ‘codes of good governance’, to improve gender diversity on boards. Yet, unconvinced of the effectiveness of this self-regulation, many regulators have implemented mandatory quota laws. Our study sheds light on this dilemma. Seeking to broaden our conceptual knowledge of how such ‘codes’ work in the specific case of gender diversity on boards, we ask: Under which conditions is self-regulation via voluntary principles of good governance effective? Expanding recent institutional-theory perspectives from the (...) literature of women on boards, we show that, in the case of Austria, self-regulation via code recommendations is ineffective unless supported by additional forces. The primary reason for this, we argue, is that nominators do not expect benefits from gender-diverse boards. Furthermore, non-compliant companies face little pressure to change due to the small number of companies that have already adopted respective code recommendations. We identify two potential alternatives to boost the effectiveness of voluntary self-regulation for gender-diverse boards: First, the introduction of concrete targets for female representation and the public monitoring of fulfillment; and, second, the establishment of a credible threat that mandatory quotas will be imposed if diversity goals are not achieved. Drawing on longitudinal data from 2006 to 2016 on listed and state-owned companies in Austria, we give an empirical account of the conditions that assure effective self-regulation. Arguing that codes suffer from what we call ‘opportunity bias’, we conclude that political goals based on ethical rather than instrumental considerations are unlikely to be effectively implemented solely by codes of good governance. (shrink)

This article examines whether progress in women’s access to decision-making positions is best achieved through increased levels of development or targeted actions. Drawing on European data for the period 2006–2018, the article examines the association between how gender equal a country is and legislated measures such as board quotas with women’s representation on boards. The analysis then explores how this can be nuanced by differentiating between hard sanctions, soft sanctions and codes of governance. It shows that board quotas cannot be (...) relied upon as instruments of progress independently of a contextual environment that is more gender equal. Furthermore, board quotas with hard sanctions work best, followed by codes of governance, particularly when associated with higher gender equality. However, board quotas with soft sanctions are associated with results that are only marginally better than not having any measure in place. The article concludes that for further and faster progress to be made, introducing legislated board quotas shows great potential, though only in combination with striving for a gender equal society and using hard sanctions. The results call for organizations not to lose focus on ‘rights’ at the expense of the more palatable ‘business case’ for board quotas when striving for equality on corporate boards. (shrink)

We examine the role of alignment between organizational social consciousness and the informal and formal institutions of a country in increasing female representation on boards. Using fixed-effects and Hausman Taylor regression methodology for endogenous covariate with panel data for the years 2006–2020, we find that the greater the alignment between organizational social consciousness and certain formal and informal institutions, the more progress there is toward gender representation on corporate boards in Europe. We also find that more socially conscious firms make (...) the most progress, often going beyond the minimum regulatory targets. By showing the complementarity of these factors, we address the enduring question of how the interplay of formal and informal institutions directly affects corporate behavior, thus contributing to the institutional, public policy/regulatory, and corporate governance literatures. We note the need for policymakers to go beyond mere codification of rules via quotas and simultaneously work toward raising national and organizational social consciousness levels on issues of gender equality. (shrink)

ABSTRACT:Despite 40 years of equal opportunities policies and more than two decades of government and organization initiatives aimed at helping women reach the upper echelons of the corporate world, women are seriously underrepresented on corporate boards. Recently, fifteen countries sought to redress this imbalance by introducing gender quotas for board representation. The introduction of board gender quota legislation creates ethical tensions and dilemmas which we categorize in terms of motivations, legitimacy, and outcomes. We investigate these tensions through four overarching theoretical (...) perspectives: institutional, stakeholder, social identity, and social capital. We outline a future research agenda based on how these tensions offer greater focus to research on quotas and more broadly to ethics and diversity in organizations in terms of theory, anticipated ethical tensions, data, and methodology. In sum, our review seeks to synthesize existing multidisciplinary research and stimulate future enquiry on this expanding set of legislation. (shrink)

Building on agency and resource-based view theories, this study investigates the level of environmental disclosure (ED) practices of family versus non-family firms and explores the moderating role of board gender diversity. We test our hypotheses on a 3-year (2018–2020) panel data sample comprising 324 observations of Italian small- and medium-sized enterprises traded on the Euronext Growth Milan. Findings show that, compared to non-family firms, companies with a family firm status are characterized by lower levels of ED. Gender diversity on the (...) board, however, moderates this relationship, reducing this gap, to the extent that the family firm status is associated with higher ED when the number of women directors is high enough to constitute a critical mass. We consequently contribute to the studies on family business, corporate governance, and corporate social responsibility. (shrink)