Mandates for More Women on Boards: Why is the gender-diversity value proposition still unclear?

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At the end of August, the California legislature passed a bill that mandates gender diversity on boards of directors of publicly-traded companies headquartered in California. If the bill passes, California will be the first state in the country with such a requirement.

Many people are asking: "Is such legislation going to help; can changes in corporate behavior be mandated by legislation?"

Perhaps the question we should ask is not does legislation work, however, but why, in 2018 do we need legislation on this issue?

Women represent 51 % of the population, nearly 60% of the wealth in the U.S., and 80% of its purchasing power. Multiple studies show that including women on boards or on teams...