Study: Women improve the performance of the Board of Directors of the Company.
Firms with a male composition of the board of directors show lower financial performance than companies where women are part of the council, said the study Analysis of the heterogeneity of the Board of Directors.
According to the study, over the past five years the number of women on boards of directors of companies are gradually increasing. In this case, the companies with the male composition of the Board of Directors of the higher level of tracking error, which indicates a potentially greater volatility.
According to the study, the number of companies with women on the board of directors in the world has increased to 59%. In 2008, there were 56%. Only 17% of companies, the proportion of women on the board of directors is 20% or higher (compared to 13% in 2008), while 45% of companies – 10% or more (39% in 2008).
In addition, the world is increasing the number of companies implementing policies and processes aimed at providing equal opportunities for men and women, the report said, noting that this figure rose from 64% in 2008 to 66% in 2012
The study authors noted that from a geographical point of view, most women serves on the boards of directors of companies in the EMEA (Europe, Middle East and Africa). They were closely followed by the countries of North and South America. The least diverse gender boards of directors of companies in the Asia-Pacific region.
“Over the past five years, the business community has made significant progress in terms of providing men and women with equal opportunities. However, despite the gradual increase in the number of companies where women are members of the Board of Directors, to full equality is still very far away,” – says Andrea Chanavat manager Product, Thomson Reuters Environmental, Social & Governance.
According to him, the study found that the economic performance of companies with a mixed board of directors were equal or slightly superior performance of companies with a board of directors composed exclusively of men.
“These data allow us to further develop the idea that gender equality in the workplace – this is a good, justified in terms of business investment,” – he concluded.