Gap between country culture and regulation on diversity

Abstract

There is an extensive debate concerning the application of gender quotas on corporate boards around the world. Since Norway legislated quotas of female directors in 2003, many countries have incorporated some form of legislation about board gender diversity, either as good practice to follow or by imposing mandatory quotas. This debate, which is particularly intense in Europe, is also on the agenda of countries like Nigeria, India, and Malaysia. Based on institutional theory, this study outlines and compares countries that have introduced board gender diversity legislation. Results show common denominators and gaps between countries related to cultural, welfare and regulations, which can be helpful to the regulators.