Gender Representation in Nordic Boards: Evaluation of Board Work

We study the consequences of gender representation on board work in listed firms in five Nordic countries. Using survey data on chairmen perceptions, we contribute to the literature on gender diversity in boards by providing an inside view. We find that the predominantly male chairmen are significantly less satisfied with the female board members, when directly asked to rate various groups of board members. When analyzing the grading of various aspects of board work, and controlling for a number of factors, we neither find evidence of gender diversity contributing positively on perceptions of board work. However, contrary to the idea that more homogeneous groups would work better when risk is high, we find some signs of a positive effect of gender diversity in high risk firms.