The Effect of Boards Gender Quotas Legislative Introduction on the Financial Performance of French Traded Companies

This study attempts to determine the impact of legislatively adopted gender quotas on boards of directors on the financial results of companies. This topic remains relevant mainly due to the trend in society towards achieving gender equality by increasing the representation of women. The literature review examines the experience of introducing gender quotas in various European countries, such as France, Germany, Spain, Norway, Italy, etc., in connection with the various consequences of this measure. The study examines 40 companies of the French CAC 40 stock index, since this literature contains accurate information about the gender quota legally established in France. The data obtained on the gender composition of boards of directors and financial results for the period from 2008 to 2016 allow us to analyze changes in individual indicators, such as return on assets and the Tobin coefficient, under the influence of increased gender diversity. This analysis can help us determine whether the increase in the proportion of women on boards of directors due to the introduction of gender quotas has an impact on financial results.