THE REPRESENTATION OF WOMEN IN SUPERVISORY BOARDS AND ITS IMPACT ON THE COMPANY’S PROFITABILITY

Ivana Drmac (), Maja Pervan () and Tomislava Pavic Kramaric ()
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Ivana Drmac: University of Split
Maja Pervan: University of Split
Tomislava Pavic Kramaric: University of Split

Economic Thought and Practice, 2017, vol. 26, issue 2, 453-476

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.

Keywords: gender diversity; supervisory board; profitability of companies (search for similar items in EconPapers)
JEL-codes: D21 G34 J16 L25 (search for similar items in EconPapers)
Date: 2017
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