Toronto: Hire or promote a woman to join your board of directors now to reap better results. According to a research, even one woman on the board of directors in a firm can lead to stronger corporate governance practices than those with no women.
Moreover, companies with at least three women in board of directors rank even higher, depending on specific industry sectors, the study said.
“The findings suggest the presence of women on a board encourages a greater focus on board practices and behaviours related to good governance, even when they are a lone voice,” said business professor Judith Zaichkowsky from Simon Fraser University in Canada.
The study found significant improvement in scores with one women, especially in traditionally male-dominated industries such as energy and mining.
The presence of women on the board could be a signal that a company cares more about good corporate governance, said the report published in the International Journal of Business Governance and Ethics.