Working papers
This paper studies how the gender composition of corporate boards impacts the gender gap within firms. We construct a unique dataset detailing the board composition of all French firms from 2008 to 2021, and leverage a 2010 gender board quota as an exogenous regulatory shock. We compare publicly listed firms, which increased their female board share from 11% to 42% in response to the quota, with large non-listed firms, where the increase was much milder. Using difference-in-differences and IV strategies, we find three key results. First, female representation on the board matters: an increase in the female board share leads to (i) a rise in the representation of women among top earners and a higher likelihood that a woman becomes CEO ; and (ii) a reduction in gender wage gaps throughout the wage distribution. Second, despite an expected increase in labor costs, profitability does not decline, suggesting a relative increase in productivity. Third, we identify factors that could plausibly drive these impacts in the French context. Female directors' legitimacy and scope for action are likely strengthened: the gender gap in top executive experience among directors is halved post-quota, and new female appointees gain access to key board committees. Evidence suggests that, as the share of women on the board increases, it also becomes more likely that CEO compensation is linked to gender equity goals.
Peer comparisons can substantially impact behavior and well-being, but large-scale evidence that individuals use ordinal rank information is lacking. We explore this question in the school context, by leveraging a unique panel dataset and an extensive survey of Italian students. To identify students’ reactions to the perception of their class rank, we exploit a ``visible'' rank from teachers' exam grades, and an ``invisible'' rank from unreported test scores. We show that rank perception significantly affects students' academic performance and motivation, suggesting that rank disclosure can be effectively utilized in settings where peer comparisons naturally occur, like schools or firms.
Work in Progress
“Take-up of Parental Leave Policies: The Role of Workplace Culture” (with Louise Paul-Delvaux)
Paid Family Leave (PFL) policies are designed to support new parents as they navigate the often conflicting demands of work and family responsibilities. Beyond federal and state mandates, firms are also actively expanding parental leave benefits as a strategy to attract and retain talent. A first-order question when considering PFL is whether workers actually use them and, if so, what their downstream impacts are on both employees and employers. In this project, we leverage confidential HR data from a major French multinational corporation and analyze changes in both government and the firm's PFL policies.