Study: Women On Corporate Boards Better At Making Decisions Than Men
KIRKSVILLE, Ariz. (CBS Las Vegas) - Researchers have learned that female members of corporate boards are more open with their opinions, and ultimately make better decisions than their male counterparts.
The study, conducted by researchers from the A.T. Still University and McMaster University in Ontario, additionally found that female corporate heads are more open and accepting of new ideas and thoughts.
Those involved with the study used its findings to pose the question of why so few women are in positions of power in comparison to the amount of men assuming similar roles in companies.
“Why would governance, nominating committees and board chairs not want to have that skill set, that competence available to them in abundance?” study co-author Chris Bart, who is also a professor of strategic management at the DeGroote School of Business at McMaster, was quoted as saying by the Canadian Press.
He added, “It’s no longer just a question of it being the right thing to do, to have women on the board… it’s the bright thing to do.”
Bart wrote the study with ATSU’s Gregory McQueen, the Press noted.
Those involved with the study reportedly spoke with 624 board directors in Canada. In the process of polling, they found an intriguing discrepancy – women were said to generally be inclined toward using “co-operation, collaboration and consensus building” in the decision-making process, while men relied more heavily upon “rules, regulations and traditional ways of doing business.”
Women also displayed a greater amount of empathy than men when discussing solutions with others, the study found.
“Women seem to be predisposed to be more inquisitive and to see more possible solutions,” Bart told the Press. “This quality makes them more effective corporate directors.”
According to the news service, the study was published in the International Journal of Business Governance and Ethics.