A report released by the Bankwest Curtin Economics Centre and the Workplace Gender Equality Agency on Friday showed a 10 percentage point increase in female directors on boards of ASX-listed companies raised their market value on average by 5 per cent, or $78.5 million.
The report analysed WGEA data, which captures information about the same companies every year, allowing researchers to measure the impact of changes in policies, leadership and actions and gauge how gender diversity affects performance over time.BCEC principal research fellow Rebecca Cassells said the data found a causal relationship between more senior female employees and better business performance.
Australian Council of Superannuation Investors chief executive Louise Davidson said investors recognised the value of board gender diversity. In 2015, the group began advocating for a minimum of 30 per cent female directors on ASX200 companies. This was achieved last year and now ACSI wants companies to give it a timeframe for when their boards will be gender balanced.
"The importance of a diverse workforce, diverse board and the like is that you have less group think," she said. "A narrow group of experience, skills and backgrounds on boards means that innovation can be stymied." Australian Institute of Company Directors data from April found women made up 30.7 per cent of ASX200 boards and 31.8 per cent of ASX100 boards.
This is transphobic please delete
Isn't it sad the feminist writers tell women you must be in a constant state of competition with men! No wonder the marriage rate is plummeting and mgtow is booming!
Feminist writers need to get a life! There is more things going on at the moment than your petty gender point scoring! Grow up!
Just ask Raelene Castle - who needs a quota system right?
A lot of male directors appear to be identifying as female! Does ‘trans’ woman CEO count! Works well in sport!
Especially companies like AMP? Though the fems were board members. My shares in AMP now down 80%.
Exhibit A: Raelene Castle 😂
😂
L O L
Yeah bullshit.
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