The gender pay gap in top corporate jobs in Denmark

Nina Smith · Valdemar Smith · Mette Verne

38 citations0/0 files storedInternational Journal of Manpower

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Gender Diversity and Inequality Labor market dynamics and wage inequality Labour Market and Migration

Abstract

Purpose This study aims to analyse the gender pay gap among CEOs, VPs and potential top executives. The authors seek to analyse how much of the gap is explained by differences in individual characteristics and how much is explained by firm characteristics and discriminatory processes. Design/methodology/approach The paper estimates compensation functions based on a panel of employer‐employee data set covering all Danish companies in the private sector with more than 50 employees during the period 1996‐2005. Findings The authors document that when controlling for a large number of observable characteristics and time‐invariant characteristics, there still exists a large gender compensation gap among top executives in Denmark. For VP and potential top executives, the estimated gap increased during the period 1996‐2005 while for the small and selected group of CEOs, the corrected gender gap decreased slightly. Research limitations/implications The study does not claim to identify causal links between top executive compensation and individual or firm specific background characteristics. Practical implications The extension of the family‐friendly schemes may have had negative boomerang effects on the compensation and careers of all women, irrespective of whether they become mothers or not. Especially for those women aiming to reach the top of the organisation, these effects may be important because potential career interruptions are expected to be more severe for this group. Originality/value This study adds to the limited empirical literature on the gender pay gap among the narrow group of top executives using a large panel employer‐employee data set of all Danish companies.

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References

1981Rank-Order Tournaments as Optimum Labor Contracts 2007Do Women Shy Away From Competition? Do Men Compete Too Much?1979Rank-Order Tournaments as Optimum Labor Contracts 2008Executive compensation 1999Chapter 38 Executive compensation 2006Do women in top management affect firm performance?A panel study of 2,500 Danish firms 2007Efficient Estimation of Time-Invariant and Rarely Changing Variables in Finite Sample Panel Analyses with Unit Fixed Effects 1992Will Affirmative Action Policies Eliminate Negative Stereotypes

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