It's board members, not CEOs. Women do 1.1% better for DAX (40 large cap companies), 0.1% better for SDAX (70 small cap companies) and 4.7% worst for MDAX (60

It's board members, not CEOs. Women do 1.1% better for DAX (40 large cap companies), 0.1% better for SDAX (70 small cap companies) and 4.7% worst for MDAX (60 mid cap companies). So the few women that are board members in average are compensated 1.1% better at DAX companies, that's the story.