Working Paper: NBER ID: w28893
Authors: Alma Cohen; Moshe Hazan; David Weiss
Abstract: Are the political preferences of CEOs associated with the representation and compensation of women in the executive suite? We find that Democratic CEOs (those who contribute more to Democratic candidates) are associated with higher representation of women in the executive suite. To explore causality, we use an event study approach and show that replacing a Republican with a Democratic CEO is associated with 20%-60% in more women in the executive suite. Finally, we show that Democratic CEOs associated with a significant reduction (or even disappearance) of the gender gap in the level and performance-sensitivity of executive pay.
Keywords: No keywords provided
JEL Codes: G30; J16; J30; M12; M14; M51
Edges that are evidenced by causal inference methods are in orange, and the rest are in light blue.
| Cause | Effect |
|---|---|
| CEOs' political preferences (D72) | female representation in the executive suite (M12) |
| Republican CEO replaced by Democratic CEO (G34) | female representation in the executive suite (M12) |
| Democratic CEOs (D79) | gender pay gap (J31) |
| CEOs' political preferences (D72) | performance sensitivity of female executives' compensation (M52) |