This research reports the results of a study of women serving on boards of directors of Canadian private and public sector organizations. These women (N = 278) were an impressive and talented group (eduction, professional designations). In addition, they brought a variety of backgrounds and expertise to their director responsibilities. Most were nominated as a result of recommendations from current board members, CEOs, or someone who knew board members or CEOs. Thus personal relationships (the old boy's network) as well as (...) track records and appropriate expertise were important factors in board nominations. Women directors thought they had some influence on women's issues with their boards and board companies. A majority believed that board members should be more diverse, including more women and fewer male CEOs. However they indicated several barriers faced by women in being selected and nominated for board appointments. (shrink)

This study examines the influence of women in business using a sample of firms on Fortune's “100 Best Companies to Work For” list and is an extension of Bernardi et al.'s work. We use the data from Bernardi et al. to determine whether a higher representation of women on a board signals an increased commitment of a firm to a quality environment and employment characteristics necessary to establish the firm on Fortune's “100 Best Companies to Work For” list. Our findings (...) include a significant increase in the number of female directors on Fortune 500 companies between 1977 and 2001. The initial analysis of the 27 firms appearing on both Fortune's “100 Best Companies to Work For” list and the Fortune 500 in 2001 indicates a positive correlation between the number of female directors and a company's appearance on the “100 Best Companies to Work For” list. (shrink)

This article examines whether and how the participation of women in the firm’s board of directors and senior management enhances financial performance. We use the Fama and French (1992, 1993) valuation framework to take the level of risk into consideration, when comparing firm performances, whereas previous studies used either raw stock returns or accounting ratios. Our results indicate that firms operating in complex environments do generate positive and significant abnormal returns when they have a high proportion of women officers. Although (...) the participation of women as directors does not seem to make a difference in this regard, firms with a high proportion of women in both their management and governance systems generate enough value to keep up with normal stock-market returns. These findings tend to support the policies currently being discussed or implemented in some countries and organizations to foster the advancement of women in business. (shrink)