In this paper, I compare two policy interventions used in Europe to increase gender equality on corporate boards: quota versus disclosure. While quota has a stronger enforcement effect, disclosure allows firms to decide on the optimal board gender ratio taking into consideration their own...

How informative is a firm's voluntary disclosure of its gender diversity? We focus on the FTSE 350 and exploit a 2017 UK regulation that mandates public disclosure of detailed gender pay gap ("GPG") data. Using a firm's GPG revealed post-mandate to proxy for the firm's true gender diversity, we...