Do CEOs with daughters have greater board gender diversity?

Purpose The purpose of this study is to investigate the influence of a CEO’s children’s gender on board gender diversity by leveraging insights from the female socialization theory. This study posits that CEOs with daughters are more likely to internalize gender-inclusive values and, thus, exhibit a more favorable attitude toward female representation in corporate governance. Design/methodology/approach This study examines the effects of a CEO with a daughter, multiple daughters and specifically a daughter as their first-born child, on the gender composition of the firm’s board of directors. This analysis encompasses the percentage of women on the board, the likelihood of achieving critical mass (defined as having three or more female directors), the representation of women on key board committees and shareholder voting patterns for female directors. Findings Aligning with the hypotheses presented in this study, firms led by CEOs with daughters demonstrate significantly higher board gender diversity. Furthermore, the presence of female directors is correlated with more favorable perceptions and increased support from shareholders. Practical implications The findings of this study suggest that the personal characteristics and gender-related perspectives of CEOs are pivotal in promoting an inclusive corporate environment and advancing gender diversity in board leadership. Originality/value This study enhances the growing body of literature on the determinants of female director appointments and the broader implications of CEO personal attributes on corporate governance practices.