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Beyond the Glass Ceiling: Does Gender Matter?

Beyond the Glass Ceiling: Does Gender Matter? A large literature documents that women are different from men in their choices and preferences, but little is known about gender differences in the boardroom. If women must be like men to break the glass ceiling, we might expect gender differences to disappear among directors. Using a large survey of directors, we show that female and male directors differ systematically in their core values and risk attitudes, but in ways that differ from gender differences in the general population. These results are robust to controlling for differences in observable characteristics. Consistent with findings for the population, female directors are more benevolent and universally concerned but less power oriented than male directors. However, in contrast to findings for the population, they are less tradition and security oriented than their male counterparts. They are also more risk loving than male directors. Thus, having a woman on the board need not lead to more risk-averse decision making.This paper was accepted by Brad Barber, Teck Ho, and Terrance Odean, special issue editors. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Management Science INFORMS

Beyond the Glass Ceiling: Does Gender Matter?

Management Science , Volume 58 (2): 17 – Jul 15, 2012
17 pages

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References (6)

Publisher
INFORMS
Copyright
Copyright © INFORMS
Subject
Research Article
ISSN
0025-1909
eISSN
1526-5501
DOI
10.1287/mnsc.1110.1452
Publisher site
See Article on Publisher Site

Abstract

A large literature documents that women are different from men in their choices and preferences, but little is known about gender differences in the boardroom. If women must be like men to break the glass ceiling, we might expect gender differences to disappear among directors. Using a large survey of directors, we show that female and male directors differ systematically in their core values and risk attitudes, but in ways that differ from gender differences in the general population. These results are robust to controlling for differences in observable characteristics. Consistent with findings for the population, female directors are more benevolent and universally concerned but less power oriented than male directors. However, in contrast to findings for the population, they are less tradition and security oriented than their male counterparts. They are also more risk loving than male directors. Thus, having a woman on the board need not lead to more risk-averse decision making.This paper was accepted by Brad Barber, Teck Ho, and Terrance Odean, special issue editors.

Journal

Management ScienceINFORMS

Published: Jul 15, 2012

Keywords: Keywords : directors ; gender ; boards ; values ; risk

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