Is there an implicit quota on women in top management? A large‐sample statistical analysis

This article advances strategic management by developing a data-driven simulation method to analyze how the characteristics of a group influence the characteristics of the group's components. We apply our method to the underrepresentation of women in the top management of S&P 1,500 firms. Although extant research suggests that the presence of women in top management could be self-reinforcing, we theorize and provide strong evidence that women face an implicit quota, whereby a firm's leadership makes an effort to have a small number of women in top management, but makes less effort to have, or even resists having, larger numbers of women. In consequence, the presence of a woman on a top management team reduces the likelihood that another woman occupies a position on that team. Copyright © 2015 John Wiley & Sons, Ltd.