Does gender matter in the boardroom?

What is it about?

Our paper makes two points. First, we show that female director are very different from male directors in their values. This provides a reason why board diversity can matter for firm outcomes. Second, we show that female directors are quite different from women in the population. This means we cannot infer what female directors are like by generalizing from population findings. For example, it is incorrect to argue that female directors should be more risk-averse than male directors just because "typical" women have been found to be more risk-averse than "typical" men.

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Why is it important?

Our paper suggests that diversity matters. It also highlights the importance of selection and the need to fight stereotypes about women in leadership positions.