Using a panel data set of US listed firms, we find that a greater inequality in executive pay is positively associated with the exit of female executives from the firm’s top executive team. This effect is economically larger when the starting level of female representation in the executive team is low, when the firm uses more variable compensation to reward executives, and when the firm operates in geographic areas featuring stronger aversion toward income inequality.
Pay inequality and gender dynamics in top executive positions
Amore, Mario Daniele
;
2021
Abstract
Using a panel data set of US listed firms, we find that a greater inequality in executive pay is positively associated with the exit of female executives from the firm’s top executive team. This effect is economically larger when the starting level of female representation in the executive team is low, when the firm uses more variable compensation to reward executives, and when the firm operates in geographic areas featuring stronger aversion toward income inequality.
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