[kkwok]

If I'm reading the study correctly the impact seems to be: 1) There is a correlation between female execs and success, so companies that tend to do better are also companies that tend to have female executives. 2) We can't make any statements about causation, so this means it's not effective for companies to just say let's hire female executives--without fixing any underlying reasons they didn't before. In fact I'd guess it's more likely that both success and having female executives is a result of a better firm culture/outlook rather than one of them being the direct cause of the other.