Gender and Social Networks on Bank Boards
Abstract: We examine the effect of the social networks of bank directors on board gender diversity and compensation using a unique, newly compiled dataset over the 1999-2018 period. We find that within-board social networks are extensive, but there are significant differences in the size and gender composition of social networks of male vs female bank directors. We also find that samegender networks play an important role in determining the gender composition of bank boards. Finally, we show that those connected to male directors receive higher compensation, but we find no evidence that connections to female directors are influential in determining pay and bonuses.
File(s): File format is application/pdf https://www.federalreserve.gov/econres/feds/files/2021021pap.pdf
Part of Series: Finance and Economics Discussion Series
Publication Date: 2021-03-22