Board gender diversity in China and Eastern Europe

Ichiro Iwasaki , Xinxin Ma , Satoshi Mizobata
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Abstract

This paper reports on an empirical analysis of 42,094 public/private companies in China and 21 Eastern European countries to grasp the actual state and determinants of board gender diversity in emerging market firms. We confirmed that firms in these countries are comparable to those in advanced nations in terms of the prevalence of firms recruiting female board members and the female share of board directorships. Furthermore, in emerging market countries, internal promotions are used as often as, or even more often than, external ones to recruit women to director positions. The results revealed that board composition and ownership structure are important determinants of the gender diversity of the corporate board in emerging market firms. We also found that the effects of these factors vary significantly depending on the country/region and the listing status of firms and that two qualitatively different decision-making stages related to the appointment of women to board positions (i.e., a decision as to whether to appoint any women to the board and a decision as to how many board positions should be reserved for women) have a substantial impact on the empirical results.

中国和东欧董事会的性别多样性
本文报告了对中国和 21 个东欧国家 42,094 家公共/私营公司的实证分析,以了解新兴市场公司董事会性别多元化的实际状况和决定因素。我们证实,这些国家的公司在招聘女性董事会成员的普遍性和女性在董事会中的比例方面与发达国家的公司相当。此外,在新兴市场国家,内部晋升与外部晋升一样频繁,甚至比外部晋升更频繁地用于招聘女性担任董事职位。研究结果表明,董事会组成和所有权结构是新兴市场企业董事会性别多元化的重要决定因素。我们还发现,这些因素的影响因国家/地区和公司上市状况的不同而有很大差异,而且与任命女性担任董事会职位有关的两个不同决策阶段(即决定是否任命任何女性进入董事会和决定应为女性保留多少董事会职位)对实证结果有很大影响。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
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