Female directors positively influence firms’ corporate social performance
To enhance the benefits of diversity for corporate social performance, efforts should be directed at holding boards more accountable to diverse stakeholders and improving the status of women, says Kris Byron
Photo: Shutterstock
According to the World Economic Forum, social issues such as income inequality, climate change and natural resource shortages are among the most pressing global challenges facing 21st-century economic factors.
Boards of directors, then, may hold considerable sway in determining the extent to which firms respond to and address these social issues.
How can firms be more responsive? One oft-recommended solution is to increase the number of women on corporate boards.
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