Board Gender Quotas: Can women realistically boost firm performance

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This paper investigates the impact of gender quotas on firm performance using countries worldwide that have introduced a gender quota as a quasinatural experiment. Our statistical analysis shows that board members’ characteristics significantly change after implementing the gender quota. The results of our empirical analysis provide evidence that gender quotas reduce the cost of equity in the short term but decrease the Tobin’s Q in the long term and have a neutral impact on profitability in the short term and the longer term.

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This paper investigates the impact of gender quotas on firm performance using countries worldwide that have introduced a gender quota as a quasinatural experiment.
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