Percentage Of Female Directors Research Articles

Demographic diversity in the boardroom: evidence from Borsa Istanbu

This study investigates demographic diversity in the boards of public firms quoted at Borsa Istanbul. The findings show that female directors are neither less educated nor less professionally qualified than male directors. However, consistent with the glass ceiling arguments, the percentage of female directors that are CEOs or chairmen is lower compared to male directors. Also, a lower percentage of them are independent and serve on audit committees. The findings also show that a lower percentage of foreign directors are independent, busy and serve on audit committees compared to Turkish directors. In addition, directors that are CEOs, busy directors or independent directors are younger. However, chairmen of firms are older. Lastly, the findings show that firms with foreign directors have lower total advice quality, compared to firms with no foreign directors. However, firms with female directors do not have a significantly different advice quality, compared to firms with no female directors

The gender gap in pay in company boards

The aim of this study is to analyze whether a gender wage gap exists in the boards of directors (BD) of companies listed on the Madrid Stock Exchange from 2004 to 2011. We hypothesize that the percentage of female directors on a BD, the presence of female directors on the Nomination and Compensation Committee, the presence of well-qualified independent women directors on BD, the sector, and the geographical region, have an effect on the gender wage gap. The results show that the percentage of female directors on a BD and the geographical region have no effect on the gender wage gap. On the other hand, the finding reports that women’s presence on the Nomination and Compensation Committee increases the gender gap in pay, and it is reduced when there are independent female directors who have gained a degree on the BD, and when the company operates in the finance and real estate services sector. In addition, the results also demonstrate that the seniority of the female directors decreases the gender gap in pay, while there is a rise when the companies are bigger and the size of the BD and the return on assets increase. These conclusions should encourage regulatory bodies to adopt forceful rules to mitigate the gender gap in pay.

Gender diversity, board independence, environmental committee and greenhouse gas disclosure

This paper examines the impact of corporate board's characteristics on the voluntary disclosure of greenhouse gas (GHG) emissions in the form of a Carbon Disclosure Project report. Using both univariate and regression models with a sample of the 329 largest companies in the United Kingdom, we find a significant positive association between gender diversity (measured as the percentage of female directors on the board) and the propensity to disclose GHG information as well as the extensiveness of that disclosure. In addition, a board with more independent directors or environmental committee show a higher tendency to be ecologic transparent. However, if the committee is not sufficiently large, independent or active, its effect seems insignificant. The results are consistent with stakeholder theory, suggesting that a diversified and independent board and the existence of a board-level environmental committee may balance a firm's financial and non-financial goals with limited resources and moderate the possible conflicting expectations of stakeholders who have disparate interests. The findings should be useful for top managers and regulators who are interested in improving corporate governance practices and climate-change strategies.

The Gender Quota and Female Leadership: Effects of the Norwegian Gender Quota on Board Chairs and CEOs

In this article, we use a sample of Norwegian quoted companies in the period of 2001–2010 to explore whether the gender quota requiring 40 % female directors on corporate boards changes the likelihood of women being appointed to top leadership roles as board chairs or corporate CEOs. Our empirical results indicate that the gender quota and the resulting increased representation of female directors provide a fertile ground for women to take top leadership positions. The presence of female board chairs is positively associated with female directors’ independence status, age and qualification, whilst the presence of female CEOs is positively related to the average qualification of female directors. Firms with older and better educated female directors are more likely to appoint female board chairs. The likelihood of female CEOs’ appointment increases with the percentage of independent directors and directors’ qualifications, especially those for female directors. Furthermore, the gender gaps with respect to qualification, board interlocks and nationality between female and male board chairs vanishes after Norwegian companies’ full compliance to the quota in January 2008. However, the gender quota has no significant impact on the gender gaps between female and male directors after its full compliance. Our article thereby contributes to understanding how gender quotas, presence of female directors, percentage of female directors on boards and other board characteristics can determine the gender of top leaders of organizations.