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The annual rate of turnover of female directors falls by about a third following the introduction of a board gender quota in France in 2011. This decline in turnover is more pronounced for quota-induced new appointments, especially in boards that regularly hire directors who are members of the French business elite. By contrast, the quota has no effect on male director turnover. The evidence suggests that, by changing the director search technology used by firms, the French quota has improved the stability of director-firm matches.
Author(s):
Daniel Ferreira
LSE
United Kingdom
Edith Ginglinger
Universite Paris-Dauphine
France
Marie-Aude Laguna
Universite Paris-Dauphine
France
Yasmine Skalli
Universite Paris-Dauphine
France