Second, both in terms of the number of settlements and their dollar values, post-filing settlements are unrelated to women's power in management in regressions of levels, and are negatively related to it in regressions of changes.While there is no data on settlements that occur before lawsuit filing, given the degree of risk-aversion of a defendant, the tendency to settle should be similar before and after lawsuit filing. But to the extent that the nature of pre- and post-filing settlements differs (e.g., pre-filing settlement may be more likely when lawsuit filing would be embarrassing for the defendant), our findings based on post-litigation settlements do not resolve this issue completely.