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The Representation Of Women In Supervisory Boards And Its Impact On The Company’S Profitability

Author

Listed:
  • Ivana Drmac

    (University of Split)

  • Maja Pervan

    (University of Split)

  • Tomislava Pavic Kramaric

    (University of Split)

Abstract

The aim of this paper is to investigate whether the gender diversity, i.e. the representation of women in supervisory boards (SB) contributes to better profitability of companies, as well as to determine if there is under-representation of women in SB in companies whose shares were listed on the Zagreb Stock Exchange (ZSE) in 2016. Independent variables that measured the gender diversity of the members of the supervisory boards were the proportion of women in the supervisory board, the dummy variable for woman in the supervisory board, the Blau and the Shannon index, while the company's return on assets (ROA) was employed as dependent variable to measure profitability. Empirical research was conducted with descriptive statistics and multiple regression analysis. The most important conclusions of this study are that there is a problem of under-representation of women in supervisory boards in companies listed on the ZSE, and that gender diversity has no statistically significant impact on profitability measured by ROA indicator.

Suggested Citation

  • Ivana Drmac & Maja Pervan & Tomislava Pavic Kramaric, 2017. "The Representation Of Women In Supervisory Boards And Its Impact On The Company’S Profitability," Economic Thought and Practice, Department of Economics and Business, University of Dubrovnik, vol. 26(2), pages 453-476, december.
    • Handle: RePEc:avo:emipdu:v:26:y:2017:i:2:p:453-476
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    More about this item

    Keywords

    gender diversity; supervisory board; profitability of companies;
    All these keywords.

    JEL classification:

    • J16 - Labor and Demographic Economics - - Demographic Economics - - - Economics of Gender; Non-labor Discrimination
    • G34 - Financial Economics - - Corporate Finance and Governance - - - Mergers; Acquisitions; Restructuring; Corporate Governance
    • D21 - Microeconomics - - Production and Organizations - - - Firm Behavior: Theory
    • L25 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Performance

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