The contribution of female directors on monitoring tasks (controlling for busy directorships)
| Monitoring tasks | ||||
|---|---|---|---|---|
| Spain | Italy | France | ||
| Skewed board (<20% women) | 1.36 (0.46) | |||
| Tilted board (20–33% women) | −3.16 (–1.20) | |||
| Tilted board (>33% women) | 5.82** (1.94) | |||
| Balanced board (>40% women) | −1.28 (−0.49) | |||
| Busy directorships | 0.84 (0.48) | −4.10*** (−3.89) | −3.87*** (−3.68) | −2.34*** (−2.78) |
| Independent directors % | 0.09 (1.06) | 0.28*** (3.48) | 0.21*** (2.99) | |
| CEO duality | 1.55 (0.47) | 0.33*** (4.04) | 5.51 (1.46) | −0.93 (−0.33) |
| Board size | 1.38*** (2.59) | −0.49 (−1.35) | −0.33 (−0.85) | 0.57 (0.99) |
| Log (total assets) | 4.02 (1.40) | −5.17 (−1.35) | −7.11* (−1.89) | 21.21*** (4.72) |
| R-squared within | 0.04 | 0.12 | 0.12 | 0.13 |
| R-squared between | 0.26 | 0.60 | 0.12 | 0.05 |
| R-overall | 0.14 | 0.01 | 0.04 | 0.02 |
| N. Obs | 326 | 317 | 317 | 354 |
| N. Firms | 33 | 37 | 37 | 34 |
| Monitoring tasks | ||||
|---|---|---|---|---|
| Spain | Italy | France | ||
| Skewed board (<20% women) | 1.36 (0.46) | |||
| Tilted board (20–33% women) | −3.16 (–1.20) | |||
| Tilted board (>33% women) | 5.82** (1.94) | |||
| Balanced board (>40% women) | −1.28 (−0.49) | |||
| Busy directorships | 0.84 (0.48) | −4.10*** (−3.89) | −3.87*** (−3.68) | −2.34*** (−2.78) |
| Independent directors % | 0.09 (1.06) | 0.28*** (3.48) | 0.21*** (2.99) | |
| CEO duality | 1.55 (0.47) | 0.33*** (4.04) | 5.51 (1.46) | −0.93 (−0.33) |
| Board size | 1.38*** (2.59) | −0.49 (−1.35) | −0.33 (−0.85) | 0.57 (0.99) |
| Log (total assets) | 4.02 (1.40) | −5.17 (−1.35) | −7.11* (−1.89) | 21.21*** (4.72) |
| 0.04 | 0.12 | 0.12 | 0.13 | |
| 0.26 | 0.60 | 0.12 | 0.05 | |
| R-overall | 0.14 | 0.01 | 0.04 | 0.02 |
| 326 | 317 | 317 | 354 | |
| 33 | 37 | 37 | 34 | |
Note(s): T-statistics are reported in brackets. *, ** and *** denotes significance at 10%, 5% and 1%, respectively. Robust standard errors clustered at the firm-division level. All tests are two-tailed
Sharing content requires targeting cookies to be enabled. Please update your cookie preferences to use this feature.