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Full-Text Articles in Law
California Dreaming?, Darren Rosenblum
California Dreaming?, Darren Rosenblum
Elisabeth Haub School of Law Faculty Publications
Over the past few years, California became the setting for shocking tales of sex inequality and abuse in Hollywood and Silicon Valley. Decades after women achieved educational parity. men still run the corporate world. In response to these stories exposed by the #MeToo movement, California joined the transnational corporate board quota movement by converting its voluntary quota into a hard one. Will California's first mover status overcome constitutional objections and inspire other jurisdictions to act. Or is just Utopian dreaming, California-style? This Essay argues that despite its many flaws, the quota may succeed in curbing male over-representation on corporate boards. …
When Does Sex Diversity On Boards Benefit Firms?, Darren Rosenblum
When Does Sex Diversity On Boards Benefit Firms?, Darren Rosenblum
Elisabeth Haub School of Law Faculty Publications
Firms embrace diversity, especially with regard to sex. Overtly optimistic predictions of a diversity dividend, some built on sex stereotypes, lead these firms to count on profits that may never materialize. This Article attempts to reset the agenda on how to study corporate board diversity. We can only assess if and how sex diversity yields benefits by understanding the who, what, and where of diversity. Whether sex diversity produces a "diversity dividend" depends on three key factors: ( 1) the nature of the benefit of including women (whether for their experience or other qualities); (2) the kind of firm and …
More Than A Woman: Insights Into Corporate Governance After The French Sex Quota, Darren Rosenblum
More Than A Woman: Insights Into Corporate Governance After The French Sex Quota, Darren Rosenblum
Elisabeth Haub School of Law Faculty Publications
In 2011, France enacted a Corporate Board Quota to establish a forty percent floor for either sex on corporate boards. Existing literature presumes that women will change the way firms function and that their presence in upper management will improve both governance and financial returns. To assess the potential impact of the quota, we interviewed twenty-four current and former corporate board members. Our analysis of these interviews generates two findings. First, our results indicate that, at least in the view of board members, the sex quota has had an impact on the process of board decision-making, but adding women has …
Quotas And The Transatlantic Divergence Of Corporate Governance, Darren Rosenblum
Quotas And The Transatlantic Divergence Of Corporate Governance, Darren Rosenblum
Elisabeth Haub School of Law Faculty Publications
The French adoption of a corporate board quota for women reflects Europe's increasingly stakeholder-oriented approach to corporate governance, one that stands in marked contrast with that of the United States. This Article discusses how the corporate board quota will shift French and European corporate governance. The change accentuates an already established stakeholder corporate culture widespread in Europe, most notably evidenced by the presence of worker representation on boards. In contrast, the United States' corporate governance structure increasingly places the shareholder at its center. The proliferation of quotas for women on corporate boards in the national and transnational European contexts is …
Feminizing Capital: A Corporate Imperative, Darren Rosenblum
Feminizing Capital: A Corporate Imperative, Darren Rosenblum
Elisabeth Haub School of Law Faculty Publications
This Article argues that Norway’s Corporate Board Quota Law (“CBQ”) fosters a productive symbiosis between the public and private spheres. Recent studies indicate that higher numbers of women in executive positions result in stronger rates of corporate return on equity (“ROE”). Countries with higher levels of women's political representation also tend to have higher levels of economic growth. Increasing women's workforce participation outside the home can drive overall economic growth. These factors prompted the CBQ's proponents to argue for the economic imperative of women's corporate leadership. The CBQ will not only ameliorate gender inequality, but will bring new life to …