Working Paper

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.

Keywords: Bank boards; social networks; Gender; Gender diversity;

JEL Classification: G21; G34; J16;

https://doi.org/10.17016/FEDS.2021.021

Bibliographic Information

Provider: Board of Governors of the Federal Reserve System (U.S.)

Part of Series: Finance and Economics Discussion Series

Publication Date: 2021-03-22

Number: 2021-021

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