Religiosity and gender equality in the managerial labor market: Evidence from executive promotions

In this study, we rank each executive based on their job title and examine gender disparity among them. We find that female executives face a disadvantage in promotions within firms located in highly religious counties. This phenomenon is especially evident among lower-ranked executives, whose promotions are more significantly influenced by cultural factors. Furthermore, our results remain intact when we adopt alternative specifications (e.g., propensity score matching, instrumental variable). This study unveils a hidden pullback of religiosity in restraining firms from advancing female leaders and has a broad implication that cultural dynamics surrounding a community can be very influential on corporate strategies and decisions.