0% Female Directors as an Aspiration Level – Gender Targets for German Corporate Boards

2021 ◽  
Vol 2021 (1) ◽  
pp. 13513
Author(s):  
Luise Penter
Keyword(s):  
Aspiration Level ◽  
Corporate Boards ◽  
Female Directors

Boards of directors in Russian publicly traded companies: the gender aspect

2018 ◽  
pp. 142-155 ◽  
Author(s):  
T. A. Garanina ◽  
A. A. Muravyev
Keyword(s):  
Boards Of Directors ◽  
Company Performance ◽  
Corporate Boards ◽  
Publicly Traded ◽  
Publicly Traded Companies ◽  
Representation Of Women ◽  
Female Directors ◽  
Female Director ◽  
Gender Aspect ◽  
Longitudinal Dataset

This article studies the gender composition of corporate boards of Russian companies, including its relation to company performance. The analysis is based on a unique longitudinal dataset of virtually all Russian companies whose shares were traded on the stock market in 1998-2014. It shows a relatively small representation of women, just 12% of all the seats, while about 40% of the companies did not have any female director. At the same time, both the share of companies that appoint female directors and the share of female directors on boards show a clear upward trend. The econometric analysis suggests a positive link between the presence of female directors on boards and company performance, especially when firms appoint several, rather than one, female directors.

scholarly journals Female directors in Italy: The state of art after the mandatory gender quota

2017 ◽  
Vol 14 (3) ◽  
pp. 157-169 ◽  
Author(s):  
Barbara Sveva Magnanelli ◽  
Elisa Raoli ◽  
Riccardo Tiscini
Keyword(s):  
Family Firms ◽  
The State ◽  
Board Composition ◽  
Corporate Boards ◽  
Female Directors ◽  
Before And After ◽  
The Law ◽  
The Difference ◽  
The Impact ◽  
State Of Art

The purpose of this paper is to investigate the state of art of female directors in terms of presence, role and remuneration for Italian corporate boards. The analysis wants to highlight the changes occurred after the introduction of the mandatory female quotas legislation in 2012 and to check how many firms are already complying with the law after 2 years. The picture of the state of art is drawn looking at 163 Italian listed firms for a period of 4 years, from 2011 to 2014. The analysis of the data reveals relevant differences in board composition before and after the law. A significant result concerning the presence of female directors stands in the difference between family and non-family firms: the first are those with higher number of female members in the board. Additionally, an interesting data refers to the amount of remuneration for women, which is significantly lower than the remuneration provided to male directors. Being the first work which charts the situation of board composition and board member remuneration in Italy before and after female quotas introduction, this paper wants to trace some key points for future analysis about the impact of female quotas on various firm’s aspects, such as firm performance, firm earning management and quality, governance characteristics.

scholarly journals Women Do the Job: The Reasons to Set Quota for Women on Boards

2018 ◽  
Vol 13 (12) ◽  
pp. 167
Author(s):  
Sara De Masi ◽  
Agnieszka Słomka-Gołębiowska ◽  
Andrea Paci
Keyword(s):  
Audit Committee ◽  
Empirical Support ◽  
Board Structure ◽  
Corporate Boards ◽  
Controlling Shareholder ◽  
Female Directors ◽  
Women On Boards ◽  
Board Monitoring ◽  
Women On Corporate Boards ◽  
Family Connection

In 2012 Italy introduced quota to increase the number of women on corporate boards. The aim of our research is to shed more lights on how women on boards, after the enforcement of quota law, improve the board functions and the board structure. Our study focuses on all Italian FTSE MIB companies from 2008 to 2015. Italy is a country where the percentage of female directors was very low before quota. Female directors, when present, were linked through a family connection to the controlling shareholder. Our research demonstrates that a higher percentage of women on boards, after the quota, leads to a higher board members attendance and more board meetings, thus a better board monitoring. We document that, after quota, one more women to the board results in increasing the board involvement in strategy and the independence of audit committee. Our findings provide empirical support on the effectiveness of female directors, suggesting important implications of the quota legislation on the “type” of women elected.

Legitimacy profiles of women directors on top French company boards

2015 ◽  
Vol 34 (7) ◽  
pp. 803-820 ◽  
Author(s):  
Val Singh ◽  
Sebastien Point ◽  
Yves Moulin ◽  
Andrès Davila
Keyword(s):  
Management Development ◽  
Annual Reports ◽  
Academic Excellence ◽  
Gender Quotas ◽  
Corporate Boards ◽  
Women Directors ◽  
Corporate Board ◽  
Content Type ◽  
Female Directors ◽  
Short Space

Purpose – The purpose of this paper is to question the profiles of female directors on top French company boards. It explores the legitimacy attributes of current female directors to identify the profiles sought recently, as firms approach the need to make many new appointments to fulfill gender quotas for supervisory boards, given that the proportion of women on a corporate board must reach 40 percent by 2017, with an intermediate level of 20 percent by 2014. Design/methodology/approach – The authors gathered numerical and qualitative biographical data on all SBF 120 (French stock exchange index) firms’ female directors from annual reports and web sites over seven years (from 2003 to 2009). The authors constructed an SPSS database to categorize the individuals into various orders of legitimacy. Findings – Drawing on director bio-data, the authors extend previous work on four legitimacy assets (family ownership; academic excellence; strong ties to the State; and top career), by adding a fifth asset (representative director), and contribute a gender dimension to the literature on personal legitimacy. Owning-family ties and academic excellence are still particularly salient in explaining legitimacy of women directors. A new source of female directors since 2005 is the pool of foreign women, outside the elite Grandes Ecoles system. Research limitations/implications – The authors had data for directors of 115 companies out of the SBF 120 firms. The authors also lacked data for seven women out of 144 appointed during the period, despite efforts to track down data from public sources. Practical implications – These legitimacy profiles present different challenges for management development as those responsible for appointing several women to their boards in a short space of time will find out. Social implications – The authors highlight that with the diminishing role of family members on large corporate boards, more women directors need to be found, developed and mentored. If this approach is followed, new female directors with solid achievements can be appointed, without having their legitimacy as directors challenged by resistant males. Women will thus be able to take their legitimate place in French boardrooms and contribute their diverse experiences and knowledge. Originality/value – This paper questions the legitimacy assets of female directors, which can be clustered into three groups: combined elite education and top corporate career; owning-family membership; and representative directors. These legitimacy profiles present different challenges for management development as those responsible for appointing several women to their boards in a short space of time will find out.

Do Female Directors on Corporate Boards Make a Difference in Family Owned Businesses?

2019 ◽  
Vol 19 (1) ◽  
pp. 85-102 ◽  
Author(s):  
Barbara Sveva Magnanelli ◽  
Luigi Nasta ◽  
Elisa Raoli
Keyword(s):  
Firm Performance ◽  
Family Firms ◽  
Negative Impact ◽  
Gender Diversity ◽  
Family Businesses ◽  
Corporate Boards ◽  
Listed Firms ◽  
Female Directors ◽  
And Performance ◽  
Gender Quota

ABSTRACT This paper investigates how the presence of female directors on corporate boards impacts the performance of family firms. This study enriches the literature on gender diversity on corporate boards and its effects on firm performance by focusing on a country in which family businesses are dominant. The empirical analysis is conducted on a sample of 165 Italian-listed firms from 2011 to 2016, representing the period during which the mandatory gender quota law was introduced and implemented in Italy. The results show a positive relationship between the presence of women on corporate boards and firm performance, specifically in family owned businesses. These findings lead to the conclusion that female directors do not have a negative impact on firm performance. And, given the domination of family businesses and a mandatory gender quota law in Italy, this study makes a regulatory and performance assessment not previously examined in the literature. JEL Classifications: M1; M12; M48; M21.

From tokens to key players: The influence of board gender and ethnic diversity on corporate discrimination lawsuits

2019 ◽  
pp. 001872671988880
Author(s):  
Michael Abebe ◽  
Hazel Dadanlar
Keyword(s):  
Social Identity Theory ◽  
Ethnic Diversity ◽  
Large Scale ◽  
Critical Mass ◽  
Workplace Discrimination ◽  
Work Environments ◽  
Corporate Boards ◽  
Female Directors ◽  
Lower Likelihood ◽  
Female Ceos

Does the appointment of more women and ethnic minority directors on corporate boards help combat discriminatory work environments? This empirical study addresses this question by exploring the occurrence of large-scale discrimination lawsuits. Drawing from social identity theory and empathy-based perspectives, we propose that a greater presence of female and minority directors on boards reduces the likelihood of large-scale discrimination lawsuits given their propensity to advocate for underrepresented groups in the workplace. Our analysis of data from 452 US firms from 2010–2015 indicates that a higher proportion of female and minority directors on boards is associated with a lower likelihood of such lawsuits. Specifically, the likelihood of such lawsuits is lower where there are three or more (a critical mass) female and minority directors. “Token” appointments (one or two female or minority directors) do not reduce the occurrence of these lawsuits. Further, the joint presence of minority and female directors on boards significantly reduces the likelihood of such lawsuits. Finally, we found that female CEOs help in reducing the occurrence of such lawsuits when the board has two or more female directors. Overall, our findings highlight the utility of greater gender and ethnic diversity on boards in combating workplace discrimination.

scholarly journals Women on boards and monitoring tasks: an empirical application of Kanter's theory

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Sara De Masi ◽  
Agnieszka Słomka-Gołębiowska ◽  
Andrea Paci
Keyword(s):  
Design Methodology ◽  
Corporate Boards ◽  
Ongoing Debate ◽  
Content Type ◽  
Female Directors ◽  
Women On Boards ◽  
Board Monitoring ◽  
Women On Corporate Boards ◽  
The Relationship ◽  
Practical Implications

PurposeThis paper examines the relationship between women on boards and board monitoring tasks depending on group categories identified in the Kanter's theory.Design/methodology/approachUsing a sample of the largest listed companies in Spain, Italy and France during the period 2007–2017, this study tests the effect of women's presence based on the following board categories: (1) skewed boards with a percentage of women that is less than 20%; (2) tilted boards with a percentage of women that ranges from 20% to 33%; (3) tilted boards with a percentage of women that is more than 33%; and (4) balanced boards with an equal or quasi-equal gender distribution. The authors use the case of the gender board quota regulation in different European Union countries.FindingsThe results suggest that tilted boards engage in stronger firm monitoring and that the effect of women on board monitoring tasks is positive and statistically significant when the percentage of female directors reaches the threshold of 33%.Practical implicationsThe outcomes of this study help policymakers identify the minimum threshold that quota regulations should mandate in order for boards to be effective.Originality/valueThis paper moves forward the ongoing debate about the effect of women on corporate boards, shifting the focus from the ratio or presence of female directors to the size of the group they form within the board. To the best of authors’ knowledge, this is the first study to test Kanter's theory by investigating the relationship between women on boards and board monitoring.

scholarly journals Women in the Boardroom: How Do Female Directors of Corporate Boards Perceive Boardroom Dynamics?

2012 ◽  
Vol 116 (1) ◽  
pp. 87-97 ◽  
Author(s):  
Gro Ellen Mathisen ◽  
Torvald Ogaard ◽  
Einar Marnburg
Keyword(s):  
Corporate Boards ◽  
Female Directors

Women directors and IPO underpricing: evidence from Indian markets

2015 ◽  
Vol 30 (3) ◽  
pp. 186-205 ◽  
Author(s):  
Rekha Handa ◽  
Balwinder Singh
Keyword(s):  
Developing Countries ◽  
Corporate Governance ◽  
Gender Diversity ◽  
Corporate Boards ◽  
Women Directors ◽  
Ipo Underpricing ◽  
Content Type ◽  
Gender Balance ◽  
Female Directors ◽  
Gender Diverse

Purpose – This paper aims to fill the gap of the relatively under-researched impact of women directors on initial public offering (IPO) underpricing in developing countries. Gender diversity is an important emerging issue within the corporate governance literature. Recently, there has been a growing thrust on gender-diverse boards. However, their proportion on corporate boards is low worldwide. The paper examines the influence of women directors on the underpricing phenomenon pervasive in the IPO context. Design/methodology/approach – Gender diversity is an important emerging issue within the corporate governance literature. Recently, there has been a growing thrust on gender diverse boards. However, their proportion on corporate boards is low worldwide. The impact of women directors on IPO underpricing in developing countries remains relatively under-researched. This paper aims to fill this gap in research. The paper examines the influence of women directors on the underpricing phenomenon pervasive in the IPO context. Findings – The results suggest that the subscription ratio, listing delay and block holder ownership positively influence raw returns and market-adjusted excess returns. The proportion of women directors showed negative non-significant impact on both type of returns. We did not find evidence of the other explanatory variables included in the model. Research limitations/implications – The relatively low proportion of female directors may be the reason for some of the non-significant findings. Future research with a good gender balance on boards is likely to help generalising the findings. Other confounding factors also need to be included in the model for deeper explanations of the phenomenon. Practical implications – The study highlights the existence of a “glass ceiling” in Indian corporate settings, where women have to make a tough fight. This barrier must be removed to unleash the real talent of women as directors and see this talent reflected in returns. Social implications – The paper highlights both the need to better manage the gender balance in corporate board rooms and the need to incorporate women’s talents in corporate and investment decisions. Originality/value – The paper highlights the significant gender gap in IPO directorial positions in developing countries such as India. It explores female directors’ contributions in initial pricing performance, which remain unaddressed in this part of the world. Insights into this sensitive issue in an emerging economy such as India can provide important inputs.

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