THE CASE AGAINST THE BUSINESS CASE FOR GENDER QUOTAS ON BOARDS OF PUBLIC COMPANIES

51approximately 30% of board seats 4 at the largest US public companies and 8% of CEO positions. 5 With a hot national spotlight on issues of racial diversity, equality, and inclusion, 6 the composition of corporate boards of directors faces scrutiny from state (Subsection A) and federal (Subsection C) legislators, as well as stock exchanges (Subsection B). A. State RegulationsStates have the primary responsibility for regulating corporate governance, which results in an interstate competition for incorporations.States by and large have settled on corporate laws that permit wide latitude to investors and managers in structuring corporate rules, relying on investors to police their own interests instead of supposing government can do better. 25 Id. at 21.