0000000000034710
AUTHOR
Viktor Bozhinov
Shareholder Wealth Effects of Women on Boards Promoting Policies: Evidence from Germany
This study discusses differences in the effectiveness of voluntary and mandatory policies promoting women on boards and their potential effects on stock price returns. Furthermore, it classifies the announcements of the policy proposals discussed in Germany and analyzes their impact using event study methodology. The event date identification follows a two-step procedure employing search engine query data from GoogleTrends and traditional search methods using Lexis-Nexis and newspapers. One key event produces negative significant cumulative abnormal stock returns (CAR) of approximately 1.3 percentage points. Further regression analysis of the CAR reveals that the share of women on the super…
Performance under Pressure on the Court: Evidence from Professional Volleyball
This study analyzes how psychological pressure affects performance. It refers to the discussion on differences between choking, i.e., an acute performance decline under pressure and under- performance under pressure. When performance outcomes are not defined binary even slight performance decrements can have huge consequences for future career. To study the conse- quences of psychological pressure on performance, we employ data on the serving performance of 213 professional volleyball athletes in 226 matches. We do not find any evidence for the existence of severe performance decrements under pressure (i.e. choking). However, athletes serve less effectively under pressure, i.e., they serve …
Has the Push for Equal Gender Representation Changed the Role of Women on German Supervisory Boards?
In Germany, an intensive public debate about increasing female participation in leadership positions started in 2009 and proceeded until the beginning of 2015, when the German parliament enacted a board gender quota. In that period, the share of women on supervisory boards for 111 German publicly listed and fully codetermined companies (i.e. those which are affected by the quota law) more than doubled from 10.6 percent in 2009 to 22.6 percent in 2015. In 2016, the first year when the law was effective, the female share increased again by 4.5 percentage points. Using a hand-collected dataset, we investigate whether the rise in female board representation was accompanied by a change in gender…