The DOI matches its Crossref record; 6 of the 6 references it cites were found in a registry or an index.
The Changing of the Boards: The Impact on Firm Valuation of Mandated Female Board Representation *
Abstract
In 2003, a new law required that 40% of Norwegian firms' directors be women--at the time only 9% of directors were women. We use the prequota cross-sectional variation in female board representation to instrument for exogenous changes to corporate boards following the quota. We find that the constraint imposed by the quota caused a significant drop in the stock price at the announcement of the law and a large decline in Tobin's Q over the following years, consistent with the idea that firms choose boards to maximize value. The quota led to younger and less experienced boards, increases in leverage and acquisitions, and deterioration in operating performance. Copyright 2012, Oxford University Press.
Overview
The claims and statistics of this paper haven’t been checked yet.
Run the check — free, no account needed. It reads the open-access text and checks the sources it cites.
Integrity signals
Registry
Cites
Statistics
Verification
Claims the paper makes
The claims and statistics of this paper haven’t been checked yet.
Run the check — free, no account needed. It reads the open-access text and checks the sources it cites.
Self-check
Percentages, sums and reported differences re-computed from the paper’s own numbers.
The self-check needs the paper’s full text.
Citations
Cites
La Porta, R., Lopez‐de‐Silanes, F., Shleifer, A., & Vishny, R. W. (1998) · Journal of Political Economy · doi:10.1086/250042 · Cited by 18,025
How Much Should We Trust Differences-in-Differences Estimates?
Bertrand, M., Duflo, E., & Mullainathan, S. (2004) · The Quarterly Journal of Economics · doi:10.1162/003355304772839588 · Cited by 10,641
Mostly Harmless Econometrics: An Empiricist's Companion
Angrist, J. D., & Pischke, J.-S. (2008) · doi:10.2307/j.ctvcm4j72 · Cited by 5,051
Powerful Women: Does Exposure Reduce Bias? *
Beaman, L., Chattopadhyay, R., Duflo, E., Pande, R., & Topalova, P. (2009) · Quarterly Journal of Economics · doi:10.1162/qjec.2009.124.4.1497 · Cited by 1,060
Did Unilateral Divorce Laws Raise Divorce Rates? A Reconciliation and New Results
Wolfers, J. (2006) · American Economic Review · doi:10.1257/aer.96.5.1802 · Cited by 950
Pande, R. (2003) · American Economic Review · doi:10.1257/000282803769206232 · Cited by 658
Cited by
Beyond the Glass Ceiling: Does Gender Matter?
Adams, R. B., & Funk, P. (2012) · Management Science · doi:10.1287/mnsc.1110.1452 · Cited by 1,537
The Brain Gain of Corporate Boards: Evidence from China
GIANNETTI, M., LIAO, G., & YU, X. (2015) · The Journal of Finance · doi:10.1111/jofi.12198 · Cited by 851
Women on board: Does boardroom gender diversity affect firm risk?
Sila, V., Gonzalez, A., & Hagendorff, J. (2016) · Journal of Corporate Finance · doi:10.1016/j.jcorpfin.2015.10.003 · Cited by 804
Gender Diversity on Corporate Boards: Do Women Contribute Unique Skills?
Kim, D., & Starks, L. T. (2016) · American Economic Review · doi:10.1257/aer.p20161032 · Cited by 490
The Consequences of Mandatory Corporate Sustainability Reporting
Ioannou, I., & Serafeim, G. (2011) · SSRN Electronic Journal · doi:10.2139/ssrn.1799589 · Cited by 484
Metadata
- Authors
- Ahern, K. R., & Dittmar, A. K.
- Venue
- The Quarterly Journal of Economics
- Publisher
- Oxford University Press (OUP)
- Published
- 2012-01-06
- Volume
- 127
- Issue
- 1
- Pages
- 137-197
- ISSN
- 0033-5533 (ISSN-L)
- 1531-4650
- OpenAlex
- W3122759333
- Cited by
- 1,589
- References
- 6
- FWCI
- 141.28
- Type
- journal article
- Language
- en
- Open access
- closed
About these checks
Registry, retraction, Cites and statistics results are computed, not judged, with one exception: a printed reference that no index lists is read once by a model before it counts as a citation error. Claims are extracted by a model and kept only when their quote appears verbatim in the text; each cited source is then checked, with a model’s help, for whether it says what the claim relies on. Those verdicts can be wrong — read the claim’s quote and the cited source before relying on one.
Statistics and arithmetic are recomputed, not judged.
Confidence bands are shown only for fields calibrated on our annotated test set. None is calibrated yet, so no band is shown.
What counts as a claim ›How we measure confidence ›How we check this ›
Are you an author, or do you see a problem with this page? Request a review
How to cite
Cite CoChat for the checks on this page, and the paper for its own findings.
- This page
- CoChat. (2026). Citation check: The Changing of the Boards: The Impact on Firm Valuation of Mandated Female Board Representation *. https://app.cochat.ai/papers/10.1093/qje/qjr049
- The paper
- Ahern, K. R., & Dittmar, A. K. (2012). The Changing of the Boards: The Impact on Firm Valuation of Mandated Female Board Representation *. The Quarterly Journal of Economics. https://doi.org/10.1093/qje/qjr049
Data sources
Bibliographic data: Semantic Scholar, OpenAlex, Crossref.
Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.
