Tone at the top: the effects of gender board diversity on gender wa...

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(Gender) Tone at the top
(Gender) Tone at the top
The effects of gender board diversity on gender inequality
Bram Timmerma...

(Gender) Tone at the top
Motivation
Motivation
A blossoming literature linking managers’ gender and inequality within firm...

(Gender) Tone at the top
Motivation
Motivation
A blossoming literature linking managers’ gender and inequality within firm...

(Gender) Tone at the top
Motivation
Our contribution
We explore the link between gender board diversity and adjusted gende...

(Gender) Tone at the top
Motivation
Our contribution
We explore the link between gender board diversity and adjusted gende...

(Gender) Tone at the top
Motivation
Our contribution
We explore the link between gender board diversity and adjusted gende...

(Gender) Tone at the top
Motivation
Our contribution
We explore the link between gender board diversity and adjusted gende...

(Gender) Tone at the top
Motivation
A bit on theory
Theory ambiguous on the link between female managers and gender inequa...

(Gender) Tone at the top
Motivation
A bit on theory
Theory ambiguous on the link between female managers and gender inequa...

(Gender) Tone at the top
Data and methods
Databases
We link two databases at the industry × country × year level (cells)
1...

(Gender) Tone at the top
Data and methods
Gender Board Diversity Database
Based on Orbis data (Amadeus) → collects data fr...

(Gender) Tone at the top
Data and methods
Two measures of gender board diversity
Mean SD P10 P50 P90
Share of firms with w...

(Gender) Tone at the top
Data and methods
Structure of Earnings Survey
A large and comprehensive database on earnings
Avai...

(Gender) Tone at the top
Data and methods
Structure of Earnings Survey
A large and comprehensive database on earnings
Avai...

(Gender) Tone at the top
Data and methods
Mean SD P10 P50 P90
Adj. Gender Wage Gapi,c,t 0.142 0.086 0.048 0.128 0.253
Matc...

(Gender) Tone at the top
Data and methods
Method
We want to estimate the following
AGWGi,c,t = β0 + βOLS
1 GBDi,c,t + γc +...

(Gender) Tone at the top
Data and methods
Method
We want to estimate the following
AGWGi,c,t = β0 + βOLS
1 GBDi,c,t + γc +...

(Gender) Tone at the top
Data and methods
Method
We want to estimate the following
AGWGi,c,t = β0 + βOLS
1 GBDi,c,t + γc +...

(Gender) Tone at the top
Data and methods
Method
We want to estimate the following
AGWGi,c,t = β0 + βOLS
1 GBDi,c,t + γc +...

(Gender) Tone at the top
Data and methods
Main specification: IV
The IV specification is
AGWGi,c,t = β0 + βIV
1
[
GBDi,c,t...

(Gender) Tone at the top
Results
Are women on board related to gender (in)equality?
.12
.13
.14
.15
.16
Adjusted
GWG
.1 .2...

(Gender) Tone at the top
Results
Are women on board related to gender equality? – Main specification
Average share of wome...

(Gender) Tone at the top
Results
Gauging the effect: European gender quota directive
EU Directive → at least 33% of women ...

(Gender) Tone at the top
Results
Gauging the effect: European gender quota directive
EU Directive → at least 33% of women ...

(Gender) Tone at the top
Results
Robustness checks
Focusing on senior managers instead of all boards
Controlling for the w...

(Gender) Tone at the top
Results
How many women to make a difference?

(Gender) Tone at the top
Results
How many women to make a difference?
We estimate the following regression
AGWGi,c,t = β0 ...

(Gender) Tone at the top
Results
How many women to make a difference?
-1
-.5
0
.5
1
β
IV
and
90%
CI
Main
specification
Sha...

(Gender) Tone at the top
Summary
Summary
We show that improving gender board diversity decreases gender inequality
Results...

(Gender) Tone at the top
Summary
Bibliography I
Abendroth, A.-K., Melzer, S., Kalev, A., and Tomaskovic-Devey, D. (2017). ...

(Gender) Tone at the top
Summary
Bibliography II
Hultin, M. and Szulkin, R. (1999). Wages and unequal access to organizati...

(Gender) Tone at the top
Summary
Bibliography III
Tsui, A. S. and O’Reilly III, C. A. (1989). Beyond simple demographic ef...

(Gender) Tone at the top
Additional tables and figures
First stage regressions
.32
.34
.36
.38
.4
.42
Share
of
firms
with
...

(Gender) Tone at the top
Additional tables and figures
First stage regressions
Average share Share of firms
of women on bo...

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