The study of the effectiveness of boards of directors is a tremendously interesting area of investigation, heightened by the many financial scandals of the recent past. Research efforts have suffered from several deficiencies like the inconsistency of many of the results achieved (Daily, Dalton...

This paper analyses the relationship between firm performance and women on boards and top management positions in a sample of large Spanish firms in the period 2000-2004. The results of the study indicate that the percentage of women on boards and top management teams is much lower in industrial...