Replication data for: Women on Boards in Finance and STEM Industries

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Project Citation:

Adams, Renée B., and Kirchmaier, Tom. Replication data for: Women on Boards in Finance and STEM Industries. Nashville, TN: American Economic Association [publisher], 2016. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-10-12. https://doi.org/10.3886/E113452V1

Project Description

Summary: We document that women are less represented on corporate boards in Finance and more traditional STEM industry sectors. Even after controlling for differences in firm and country characteristics, average diversity in these sectors is 24% lower than the mean. Our findings suggest that well-documented gender differences in STEM university enrolments and occupations have long-term consequences for female business leadership. The leadership gap in Finance and STEM may be difficult to eliminate using blanket boardroom diversity policies. Diversity policies are also likely to have a different impact on firms in these sectors than in non-STEM sectors.

Scope of Project

Subject Terms: gender; culture; labor force participation; family firm; policy

JEL Classification:
      G34 Mergers; Acquisitions; Restructuring; Voting; Proxy Contests; Corporate Governance
      G38 Corporate Finance and Governance: Government Policy and Regulation
      I23 Higher Education; Research Institutions
      J16 Economics of Gender; Non-labor Discrimination

Geographic Coverage: global

Time Period(s): 2001 – 2010

Universe: 22 countries

Data Type(s): observational data

Collection Notes: The sample consists of data on listed companies in 20 countries for the years 2001-2010. Countries in the sample are from Europe, the Commonwealth and the USA. To ensure the county-level coverage is representative, we restrict the sample to country-years in which Boardex covers more than 70% of total market capitalization in that country and year and drop countries with low coverage and countries that are likely to be outliers with respect to women on boards. As a result, not all countries have 10 years of data in the sample. Our final sample consists of an unbalanced panel on more than 8,000 listed firms in 20 countries.

Methodology

Data Source: Data comes from CapitalIQ, the OECD family database, the World Economic Forum, the World Value Survey and O*Net amongst others.

Unit(s) of Observation: firm-year,

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Published Versions

V1 [2019-10-12]

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