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Gender quotas, board diversity and spillover effects. Evidence from Italian banks

Author

Listed:
  • Silvia Del Prete

    (Bank of Italy)

  • Giulio Papini

    (Bank of Italy)

  • Marco Tonello

    (Bank of Italy)

Abstract
We study the impact of a 2011 law on the diversity of bank boards. The law required all listed companies in Italy (including banks) to increase the share of female representatives on their boards up to one third of total seats. We look at listed banks (the ones directly targeted by the law), but also test whether the law led to spillover effects on non-listed banks belonging to listed groups. Using administrative data on board composition between 2007 and 2019, we compare some measures of diversity of boards of listed and unlisted banks belonging to listed groups with those of institutions included in non-listed groups, before and after the introduction of the law. We find that female representation increased only for listed banks, with no spillover effects of the law on those belonging to listed groups, while the economic performance of listed banks remained broadly unchanged.

Suggested Citation

  • Silvia Del Prete & Giulio Papini & Marco Tonello, 2022. "Gender quotas, board diversity and spillover effects. Evidence from Italian banks," Temi di discussione (Economic working papers) 1395, Bank of Italy, Economic Research and International Relations Area.
    • Handle: RePEc:bdi:wptemi:td_1395_22
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    References listed on IDEAS

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    More about this item

    Keywords

    bank board composition; diversity; gender; corporate governance;
    All these keywords.

    JEL classification:

    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • G38 - Financial Economics - - Corporate Finance and Governance - - - Government Policy and Regulation
    • J48 - Labor and Demographic Economics - - Particular Labor Markets - - - Particular Labor Markets; Public Policy
    • J78 - Labor and Demographic Economics - - Labor Discrimination - - - Public Policy (including comparable worth)

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