(EMAILWIRE.COM, April 05, 2013 ) Sydney, Australia -- According to a new study women make stronger corporate leaders than men due to their ability to make fair decisions when competing interests are at stake.
The study, which was published in the International Journal of Business Governance and Ethics, was based on a survey of nearly 600 board members.
According to the information gathered, female leaders were more likely than their male counterparts to consider all the competing interests and how to take a cooperative approach when making decisions. The study was conducted by the researchers at A.T. Still University in Arizona along with McMaster University in Canada.
“We’ve known for some time that companies that have more women on their boards have better results,” said Chris Bart, a professor of strategic management at McMaster’s DeGroote School of Business. “Our findings show that having women on the board is no longer just the right thing, but also the smart thing to do. Companies with few female directors may actually be shortchanging their investors.”
The research showed that male directors made up 75% of the survey and prefer to make decisions utilizing the rules, regulations, and traditions of the sector. Female directors are less likely to constrain themselves to the conventional wisdoms and are more prepared to “rock the boat” according to the researchers. The information showed they are also more likely “to use cooperation, collaboration and consensus-building.”
Female leaders were shown to be more inquisitive than their male counterparts, and work with others to find solutions to the problem. Globally, women make up 9% of the corporate board members, according to the study. It also noted research that found that companies with at least a single female director was 20% less likely to file for bankruptcy, though the level of causality was not tested for.
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