시장경쟁과 기업 이사회의 성별 다양성 연구: 여성 임원을 중심으로

This article estimates the relationship between the level of market competition and the gender diversity of the board of directors about Korean firms listed on KOSPI between 2018 and 2020. As an estimation method, we used a random effect panel model. To measure the effect of gender diversity, we used two market competition index. One is the HHI and the other is import penetration rate. The results are as follows. First, according to the HHI, a 10% drop in the market monopoly index, which means the market changes more competitive, the proportion of women on the board of directors rose by 6%p. But import penetration rates didn’t change the proposition of female board member. Secondly, the wage gap between men and women was estimated to reduce the proportion of female board member. If the male wage level rose by 1% from that of women, the proportion of women on the board fell by about 1.4%. Finally, the greater the proportion of female workers, the greater the proportion of female board member. In order to expand gender diversity of the board, it is necessary to change the market structure and improve corporate culture to prevent career breaks for the highly educated women.