Table 2.

Sample description by adoption and renewal

AdopterFirst BoDs engagement periodFirm-year observationsRenewalBoDs engagement periodFirm-year observationsMean BoDs gender
First2013–2015268Before first renewal2010–20121000.10
First renewal2013–2015840.27
Second renewal2016–2018840.40
Second2014–2016314Before first renewal2010–20131450.11
First renewal2014–2016990.27
Second renewal2017–2019
(2017–2018 in the sample)
700.36
Third2015–2017370Before first renewal2010–20142110.13
First renewal2015–20171180.27
Second renewal2018–2020
(2018 in the sample)
410.33
Total 952Total 952 
Source: Authors’ own creation

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