Women on Boards in Finance and STEM Industries

Renée B. Adams, Tom Kirchmaier

Research output: Contribution to journalJournal articleResearchpeer-review


We document that women are less represented on corporate boards in Finance and more traditional STEM industry sectors. Even after controlling for differences in firm and country characteristics, average diversity in these sectors is 24% lower than the mean. Our findings suggest that well-documented gender differences in STEM university enrolments and occupations have long-term consequences for female business leadership. The leadership gap in Finance and STEM may be difficult to eliminate using blanket boardroom diversity policies. Diversity policies are also likely to have a different impact on firms in these sectors than in non-STEM sectors.
Original languageEnglish
JournalAmerican Economic Review
Issue number5
Pages (from-to)277-281
Number of pages5
Publication statusPublished - 2016
Externally publishedYes

Cite this