The Contribution of Women on Boards of Directors: Going beyond the Surface

ABSTRACT Manuscript Type: Empirical Research Question/Issue: The increased attention to women on corporate boards presents new challenges to governance research. In this paper we go beyond demography and open the “black box” of board behavior by drawing upon theories of gender differences and group effectiveness. Research Findings/Insights: A unique survey of 201 Norwegian firms is used. The findings suggest that the ratio of women directors is positively associated with board strategic control. In addition, we find that the positive effects of women directors on board effectiveness are mediated through increased board development activities and through decreased level of conflict. However, our results show no…