Does board gender diversity affect firm risk-taking? Evidence from the French stock market

摘要

Drawing from a sample of French companies that made up the SBF 120 index over the period 2006-2010 (before the enactment of the Cope-Zimmermann law on gender quotas on boards), this paper investigates the relationship between board gender diversity and firm risk-taking (measured by the variability of the return on assets). Using a generalized method of moments estimation, no evidence is found to support the assumption of a significant relationship between women on corporate boards and firm risk-taking. These results potentially can be relevant for policy makers and academic research.