Abstract
One of the long term research questions for the multi-disciplinary study of corporate governance, has been the link between good governance and share price or other measures of value. This has been quite difficult to establish in either the legal or finance or management disciplines, but there appears to be clear evidence of corporate sustainability where quality governance practices are applied consistently. Isolating out individual factors, such as board structures, specific cultures and corporate policies, has been particularly difficult as there are so many permutations. There currently exists a significant volume of global research on the role of gender, as a part of the board composition and there are positive returns, with some caveats. This paper begins to examine and question as to whether there are positive links to a broader concept of board diversity, including gender, age and ethnicity. There have been a number of developments across Asia, including Japan, China, Singapore and Hong Kong, which provide a different paradigm from the traditional Australian comparisons with United Kingdom, America and even Europe. The hardest question is whether we should have targets or mandatory quotas.
Highlights
The last twenty years have seen various theories on corporate governance, from a wide variety of disciplines
The 2015 Korn Ferry study of boardrooms at the top 100 companies based on market value in 10 major Asian economies, including Australia, China, Hong Kong, India, Indonesia, Japan, Malaysia, New Zealand, Singapore and South Korea, found a need for boards to make strategic talent decisions in ensuring parity in gender, age and educational attainment as boards continue to be dominated by senior male executives.[7]
Clear evidence is provided for a link between economic development and corporate governance based on the extensive studies
Summary
Governance in both online and print formats. Educational and non-profit institutions are granted a non-exclusive licence to utilise this document in whole or in part for composition with specific types of directors is controversial. Gender is a key aspect of diversity, but other attributes, such as race with cultural heritage (expressed as “ethnicity”), education, professional backgrounds and age are critical factors in boards’ composition. It is the right time for boards to start to look at diversity as a holistic issue and prioritise the inclusion of members from different national origins, socioeconomic groups, educational backgrounds, variety of ages and gender. Germany joined a trend in Europe to accomplish what has not happened organically, but to legislate a greater role for women in boardrooms Other countries such as Australia and the UK have taken an anti-quota approach. The 2015 Korn Ferry study of boardrooms at the top 100 companies based on market value in 10 major Asian economies, including Australia, China, Hong Kong, India, Indonesia, Japan, Malaysia, New Zealand, Singapore and South Korea, found a need for boards to make strategic talent decisions in ensuring parity in gender, age and educational attainment as boards continue to be dominated by senior male executives.[7]
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