Cultural dimensions, legal origins and women in directorships: an econometric analysis of global board diversity
DOI:
https://doi.org/10.3846/bm.2026.2395Abstract
This research explores the multifaceted determinants of female leadership within corporate boardrooms across 46 countries. This study employs a heteroscedasticity- and autocorrelation-consistent (HAC) regression model to examine the interactions among national culture, legal origins, and board diversity. An analysis grounded in Hofstede’s framework indicates that power distance and masculinity significantly decrease the representation of women in director roles, whereas individualism emerges as a crucial driver. Additionally, an evaluation of institutional frameworks through the lens of legal origins theory suggests that professional law systems promote greater gender parity. These findings highlight the importance of integrated cultural and institutional reforms, offering specific policy pathways, such as mandated quotas in high power-distance contexts and legal enforcement in professional systems, to achieve UN Sustainable Development Goal 5 (SDG 5) by 2030.
Keywords:
female leadership, board diversity, national culture, Hofstede dimensions, legal origins, SDG 5, HAC regressionHow to Cite
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