The dynamics of diversity on corporate boards
arxiv(2024)
摘要
Diversity in leadership positions and corporate boards is an important aspect
of equality. It is important because it is the key to better decision-making
and innovation, and above all, it paves the way for future generations to
participate and shape our society. Many studies emphasize the importance of the
visibility of role models and the effect that connectivity has on the success
of minorities in leadership. However, the connectivity of firms, the dynamics
of the adoption of minorities, and the long-term effects have not been well
understood. Here, we present a model that shows how these effects work together
in a dynamic model that is calibrated with empirical data of firm and board
networks. We show that homophily – the appointment of minorities is influenced
by the presence of minorities in a board and its neighboring entities – is an
important effect shaping the trajectory towards equality. We further show how
perception biases and feedback related to the centrality of minority members
influence the dynamic. We find that reaching equality can be sped up or slowed
down depending on the distribution of minorities in central firms. These
insights bear significant implications for policy-making geared towards
fostering equality and diversity within corporate boards.
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