Abstract: Most studies of the demographics of corporate boards of directors focus on the association between specific dimensions of the composition of the board and firm performance. However, that composition derives from the choices the board makes to nominate individual board members with specific characteristics to serve on the board. Applying a treatment model analysis to the addition of board members, we find that board member demographics including racial composition, gender, and number of other boards served on, influence both changes in the market to book ratio and changes in return on assets.

Abstract: This presentation will examine the relationship between diversity on the board and in key board committees and social performance by examining he relationship between board and committee level diversity and firm social performance, as well as the interaction between board and firm level diversity and firm social performance.

Abstract: Despite the general consensus that female leaders are undervalued than their male counterparts, research on gender gap in executive compensation has yielded mixed results. Using data on the first pay of newly appointed CEOs, we show that new female CEOs tend to receive a significantly lesser amount of first pay than new male CEOs. Also, we find that the proportion of outside directors in corporate boards reduces this tendency both by increasing the first pay of new female CEOs and by decreasing the first pay of new male CEOs. Contrary to our expectation, however, the proportion of female directors has no interaction effects between new CEO gender and the amount of first pay.

Abstract: Given that women are still rare as CEOs, we explore gender differences in targeting by shareholder activists and how internal and external portrayals of leadership influence shareholder perceptions. Drawing on stereotype and signaling theories, we predict that female CEOs will receive more attention from the media, generate more impression management, and receive more shareholder activism. We test our hypotheses with a matched sample based on all female-led Fortune 1000 firms between 2003 and 2013. Results largely provide support for our main effect and moderation hypotheses on media coverage, impression management and shareholder activism.