Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/262039 
Year of Publication: 
2022
Series/Report no.: 
IFN Working Paper No. 1425
Publisher: 
Research Institute of Industrial Economics (IFN), Stockholm
Abstract: 
We study shareholder support for corporate board nominees before and after the 2018 California gender quota. Pre-quota, new female nominees received greater support than new male nominees, consistent with women being held to a higher standard. Post-quota, as the number of women increased, support for new (mandated) female nominees decreased to the same level of, but not lower than, the support that new male nominees enjoy. Still, share prices reacted negatively to the quota. We show that this reaction was concentrated in firms that did not turn over their least-supported male directors when adding women to comply with the quota.
Subjects: 
Board of directors
Gender quota
Regulation
Corporate Governance
JEL: 
G30
G34
G38
J16
K38
Document Type: 
Working Paper

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