The effect of board gender diversity on firm performance
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2023
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en
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This thesis examines the effect of board gender diversity on firm performance in Europe. After controlling for endogeneity, it is found that the effect of board gender diversity on firm performance is significantly positive but diminishing. Furthermore, the effect of gender quotas on firm performance was examined by studying the binding French gender quota and the non-binding Spanish gender quota. This thesis finds a positive and significant effect of both the French binding quota and the Spanish non-binding quota on firm performance when using a difference-in-difference model. When using a triple-difference model, no statistically significant results were found. This thesis contributes to the inconclusive literature on the effect of board gender diversity on firm performance by allowing for a non-linear relationship and by studying this relationship on a European level. Moreover, by studying a case of a binding quota as well as a non-binding quota, this thesis provides new insights into how the effect of gender quotas on firm performance differs between binding- and non-binding gender quotas.
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Faculteit der Managementwetenschappen