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- Kurzbeschreibung<p>The debate for higher female representation on corporate boards has become particularly intensive during the recent financial crisis. Scholars advocate that women are more risk-averse, more engaged with longer-term issues and tend to draw more attention to governance and ethics. Thus, it is suggested that due to the behavioural differences between men and women, more gender-balanced boards would have prevented a number of financial collapses. This assertion has triggered more detailed analyses of current statistics for women on boards in the European Union. A number of states have implemented various non-binding measures for improving female representation on boards. This brought them acclaim, yet no discernible results. Should we indeed insist to have gender-balanced boards, we need quotas. Evidence is of strong support.</p>
- AutorIrina Velkova
- VerlagAnchor Academic Publishing
- Seiten44 Seiten
- Gewicht87 g
- LeseprobeText sample:<br>Chapter 2.4. Who is afraid of women on boards:<br>Undoubtedly, the drive for more women on boards is coloured by a number of negative opinions. Amongst the most cited arguments against larger gender diversity on boards, particularly against quota imposition, is the view that if companies are legally forced to hire more women, it is highly probable that they will compromise the skills and experience of the directors. However, this assertion can be easily rebutted by exploring the number and experience of women who are eligible for appointment as board directors. Recent research shows that their number has significantly increased in the recent years, as more and more women complete advance academic degrees and gain experience in the corporate world.<br>The results from exploring the correlation between female's participation on boards and firm's performance are so far inconclusive. Although a number of surveys show positive interdependence, particularly in the return on investments and the return on assets, the empirical evidence is mixed. In their study Adams and Ferreira conclude, for example, that a beneficial link between gender diversity and company performance exists, yet it is distinguishable only in the cases when corporations suffer from weak corporate governance practices. On the contrary, they claim that within companies with well - established mechanisms over-monitoring could lead to a decrease of shareholders value. Similarly, Ahern and Dittmar, when using Tobin's Q test, suggest that biases from hiring more female directors could indeed bring about negative tendencies in the stock price of the companies.<br>One possible explanation for the lack of consistent outcome of the studies on firm performance might be the fact that the favourable impact of more women on boards has several dimensions. Moreover, it seems that the large interdependence between gender diversity and firm performance could differ by country and legal and corporate tradition. For instance, an event study conducted in Singapore by Kang, Ding and Charoenwong, concludes that investors react positively on a higher female representation, particularly if they contribute for the independence of the board. Therefore, it might be stated that although the inconclusive link between female directors and firm performance is mostly regarded as a substantial drawback for the notion for more women on boards, future research might present a more coherent picture
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