Practice What You Preach: A Multilevel Perspective on Stock Exchanges' Female DirectorshipFaten Ben Slimane () and
Laura Padilla-Angulo
Post-Print from HAL Abstract: ABSTRACT Stock exchanges, as organisations, have traditionally been male‐dominated and run as old boys' clubs; however, they increasingly face societal pressures for board gender diversity. Despite these pressures, the gender diversity of exchange boards remains low. Surprisingly, although exchanges are expected to set an example for corporate governance practices, their board gender strategies have been underexamined. Drawing on institutional theory and the strategic response approach, we use a unique hand‐collected firm‐level dataset comprising a representative sample of stock exchanges worldwide and covering a 25‐year period to investigate the predictors of exchanges' compliance with those pressures, adopting a multilevel approach. We find that mandatory quotas, having a female CEO, and the representation of directors with solid business backgrounds positively impact gender diversity. We also find that national culture plays a role. Keywords: Board gender diversity; Corporate governance; Board quotas; Stock exchanges; Institutional theory (search for similar items in EconPapers) Published in International Journal of Finance and Economics, 2025, ⟨10.1002/ijfe.70000⟩ There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it. Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-05223749 DOI: 10.1002/ijfe.70000 Access Statistics for this paper More papers in Post-Print from HAL |
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