Regulating board gender diversity in Europe: The influence of cultural, governmental, and women’s institutions
基于30个欧洲国家2002-2018年的面板数据，研究发现正式与非正式制度（如女性决策参与、治理质量、文化价值观）显著影响董事会性别配额与准则的制定，对政策制定者和公司治理研究者有参考价值。
This study empirically explores the formal and informal institutional antecedents of the enactment of quotas and codes to increase gender diversity on corporate boards. A panel of 30 European countries and 510 observations from 2002 to 2018 reveals that formal and informal national institutional contexts affect the likelihood of board gender codes and quotas. The presence of women in decision-making bodies is the most powerful driver of quotas and codes. Countries with better governance quality and longer maternity leave are less likely to have board gender quotas. High power distance, masculinity, uncertainty avoidance, restraint, short-term orientation, and individualism all increase the likelihood of quotas. A country’s female participation in the labor market is also associated with the regulation of board gender diversity. In contrast to previous theoretical propositions, other institutional factors, such as the current presence of a left-wing government, are not related to gender diversity regulations.