scholarly journals Gender Composition of the Boards of Directors of the Regional Federal Reserve Banks

2020 ◽  
Vol 105 (04) ◽  
pp. 201-250
Author(s):  
Caroline Davis ◽  
◽  
Arantxa Jarque ◽  
2017 ◽  
Vol 55 (2) ◽  
pp. 621-636 ◽  
Author(s):  
Narayana R. Kocherlakota

This essay discusses the structure and governance of the Federal Reserve System in light of the many changes in its activities over the past thirty years. Based on this analysis, it argues in favor of four specific reforms: clarification of Congressional expectations for the system; enhanced Federal Reserve Board of Governors transparency with respect to its oversight of the Reserve Banks; stripping monetary-policy votes from the President of the Federal Reserve Bank of New York and the Boards of Directors of the Reserve Banks; and the initiation of a public conversation about redesigning the Federal Reserve as a unified public entity. (JEL D72, E44, E52, E58, G21, G28)


Author(s):  
Romilda Mazzotta ◽  
Maria Teresa Nardo ◽  
Patrizia Pastore ◽  
Giovanna Vingelli

In the recent Italian regulatory framework, planning is the main point in the effective accomplishment of the mission of universities. Among the planning tools envisaged by the legislator, on one hand strategic plans outline the mission, the strategic guidelines and the objectives of the University, and on the other hand the integrated plan, which includes shorter-term objectives and strategies. Previous research suggests that women in boards of directors bring new perspectives to the board themselves. The objective of the essay is to verify if the gender composition of these bodies influences the quality of the planning process that produce effects on performance and achievement of results. The impact of board structure on gender sensitivity of the Italian state universities is thus explored, and it is verified considering both the process and the content of documents (Strategic Plans). In particular, we use the content analysis methodology in order to build a compliance indicator on the planning process and content. The empirical findings suggest that boards with higher gender diversity are positively related to the gender sensitivity of the strategic plans: the participation of women in the board of directors brings new perspectives to the board and addresses the gender sensitivity of the institution.


2015 ◽  
Vol 13 (1) ◽  
pp. 1385-1395 ◽  
Author(s):  
Giuseppina Iacoviello ◽  
MariaСaterina Mazzei ◽  
Giovanni Riccardi

The gender composition of the board of directors can affect the quality of its monitoring role and thus the financial performance of the firm. The relationship between female representation and firms’ performance represents a crucial issue in the debate on the effects of board gender quotas. The evidence on this relationship is mixed. Many studies analyze whether female top executives and women on boards of directors have a significant effect on firm performance. Many governments have introduced regulations regarding the gender composition of the boards of directors of private firms in order to improve equality of opportunity. This study examines the relationship between management diversity and firm performance for the 180 companies listed during 2008 - 2014. No evidence suggests that regulatory measures, on average, improve firm performance.


2017 ◽  
Vol 21 (1) ◽  
pp. 40-52 ◽  
Author(s):  
D. Martin Kivlighan ◽  
Gianluca Lo Coco ◽  
Salvatore Gullo ◽  
Chiara Pazzagli ◽  
Claudia Mazzeschi ◽  
...  

2018 ◽  
pp. 142-155 ◽  
Author(s):  
T. A. Garanina ◽  
A. A. Muravyev

This article studies the gender composition of corporate boards of Russian companies, including its relation to company performance. The analysis is based on a unique longitudinal dataset of virtually all Russian companies whose shares were traded on the stock market in 1998-2014. It shows a relatively small representation of women, just 12% of all the seats, while about 40% of the companies did not have any female director. At the same time, both the share of companies that appoint female directors and the share of female directors on boards show a clear upward trend. The econometric analysis suggests a positive link between the presence of female directors on boards and company performance, especially when firms appoint several, rather than one, female directors.


Author(s):  
Sabrina Bruno

Climate change is a financial factor that carries with it risks and opportunities for companies. To support boards of directors of companies belonging to all jurisdictions, the World Economic Forum issued in January 2019 eight Principlescontaining both theoretical and practical provisions on: climate accountability, competence, governance, management, disclosure and dialogue. The paper analyses each Principle to understand scope and managerial consequences for boards and to evaluate whether the legal distinctions, among the various jurisdictions, may undermine the application of the Principles or, by contrast, despite the differences the Principles may be a useful and effective guidance to drive boards' of directors' conduct around the world in handling climate change challenges. Five jurisdictions are taken into consideration for this comparative analysis: Europe (and UK), US, Australia, South Africa and Canada. The conclusion is that the WEF Principles, as soft law, is the best possible instrument to address boards of directors of worldwide companies, harmonise their conduct and effectively help facing such global emergency.


Author(s):  
Jack Knight ◽  
James Johnson

Pragmatism and its consequences are central issues in American politics today, yet scholars rarely examine in detail the relationship between pragmatism and politics. This book systematically explores the subject and makes a strong case for adopting a pragmatist approach to democratic politics—and for giving priority to democracy in the process of selecting and reforming political institutions. What is the primary value of democracy? When should we make decisions democratically and when should we rely on markets? And when should we accept the decisions of unelected officials, such as judges or bureaucrats? This book explores how a commitment to pragmatism should affect our answers to such important questions. It concludes that democracy is a good way of determining how these kinds of decisions should be made—even if what the democratic process determines is that not all decisions should be made democratically. So, for example, the democratically elected U.S. Congress may legitimately remove monetary policy from democratic decision-making by putting it under the control of the Federal Reserve. This book argues that pragmatism offers an original and compelling justification of democracy in terms of the unique contributions democratic institutions can make to processes of institutional choice. This focus highlights the important role that democracy plays, not in achieving consensus or commonality, but rather in addressing conflicts. Indeed, the book suggest that democratic politics is perhaps best seen less as a way of reaching consensus or agreement than as a way of structuring the terms of persistent disagreement.


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