All on board? New evidence on board gender diversity from a large panel of firms

We provide an overview of gender board diversity in Europe, using an exceptional database of over 100 million firms over the period of two decades and a novel gender assignment. We show that women on supervisory boards reduce the likelihood that a woman is on a management board. In fact, as much as 90% of European corporations have no women on supervisory boards, whereas roughly 80% of them has no women on management boards. We also show that more gender equality at a country level is not conducive to greater gender board diversity.