Working Paper No. 1111

Equal Opportunity? Gender Gaps in CEO Appointments and Executive Pay

Published: February 18, 2016Pages: 46Keywords: CEOs; Compensation; Discrimination; Executives; Gender differencesJEL-codes: G34; J16; J24; J31

Equal Opportunity? Gender Gaps in CEO Appointments and Executive Pay Matti Keloharju, Samuli Knüpfer and Joacim Tåg

This paper uses exceptionally rich data on Swedish corporate executives and their personal characteristics to study gender gaps in CEO appointments and pay. Both gaps are sizeable: 18% for CEO appointments and 27% for pay. At most one-eight of the gaps can be attributed to observable gender differences in executives’ and their firms’ characteristics.

Further tests suggest that unobservable gender differences in characteristics are unlikely to account for the remaining gaps. Instead, our results are consistent with the view that male and female executives sharing equal attributes neither have equal opportunities to reach the top, nor are they equally paid.


Joacim Tåg


Ph: +46 8 665 4524

Matti Keloharju


Ph: +358 40 353 8043

Sick of Inequality?

An Introduction to the Relationship between Inequality and Health

Sick of Inequality.jpg

In this book Andreas Bergh, Therese Nilsson, IFN and Lund University, and Daniel Waldenström, IFN and Paris School of Economics, France, review the latest research on the relationship between inequality and health. What does inequality mean for our health? Does increasing income inequality affect outcomes such as obesity, life expectancy and subjective well-being?


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