Abstract
The paper presents evidence that increased gender equality on boards can result in effects that extend beyond the actual boards where women are added. When working on the same board as women, those male directors who also have experience of working alongside women on a board elsewhere within their directorship network: (i) exhibit greater personal responsibility (board attendance); (ii) deliver an improved CEO accountability; and (iii) are associated with a lower risk taking. Our findings suggest that female directors exert an influence on the actions of their fellow male directors that extends beyond the focal board to other boards through a spillover effect. Failure to allow for these effects threatens to underestimate the benefits of increased gender equality in the boardroom.
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