No. 552 - Diversity and inclusion in Italian banks: an empirical analysis of measures to support gender diversity on the board of directors

Under the Italian banking framework, in support of gender diversity, non-prescriptive measures set by supervisory rules and by the Bank of Italy, coexist with the binding measures set by the law ('TUF'). The work analyses the shift in the numbers of women on the boards of listed and unlisted banks in 2014-2018. For listed companies, we consider whether the increase in number corresponds to a broader inclusion of women in corporate strategic management and an improvement in the effectiveness of the boards in question.

The number of women on banks' boards has increased, especially in listed banks. Female directors are more involved in the work of the boards and show greater independence and competence, which make them potentially more incisive in decision-making mechanisms. These aspects (greater numbers, more inclusion) positively affect those aspects that are decisive for the effectiveness of the boards. The results of the analysis support the strengthening of measures in favour of gender diversity.

Published in 2021 in: Scottish Journal of Political Economy v. 68, 3, pp. 365-404.