The Symbolic Management of Women on Company Boards: Evidence Using the UK Davies Review

Gregory‐Smith, Ian; Main, Brian G. M.

doi:10.1111/1467-8551.12713

Cited by 4 publications

(2 citation statements)

References 81 publications

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“…Our findings of a higher proportion of female layoffs in times of crisis suggest that women are hired to meet minimum legal requirements (especially in hard-law contexts), but are in turn the ones most at risk of being laid off in times of crisis. In line with previous research, MD 62,7 such as that of Gregory- Smith and Main (2023) and in line with symbolic management theory (Pfeffer, 1981), women are hired solely for the symbolism of gender diversity, greater independence and possibly to achieve the business benefits that diversity brings. However, women continue to face discriminatory bias that makes them more vulnerable to being fired if they are deemed less useful or if they have to choose between a man and a woman (Gregory- Smith and Main, 2023).…”

Section: Implications For Practice and Managementsupporting

confidence: 74%

“…In line with previous research, such as that of Gregory-Smith and Main (2023) and in line with symbolic management theory (Pfeffer, 1981), women are hired solely for the symbolism of gender diversity, greater independence and possibly to achieve the business benefits that diversity brings. However, women continue to face discriminatory bias that makes them more vulnerable to being fired if they are deemed less useful or if they have to choose between a man and a woman (Gregory-Smith and Main, 2023).…”

Section: Conclusion and Discussionsupporting

confidence: 62%

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The COVID-19, a crossroads for female directors

Garcia-Sanchez,

Uribe Bohorquez,

Aibar-Guzmán

et al. 2023

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PurposeFor almost half a century, society has been aware of the existence of a glass ceiling, a term that describes the invisible barriers that hinder women’s access to power positions despite having equal or greater qualifications, skills and merits than their male counterparts. Nowadays, although there are signs of slow progress, women are still underrepresented in the upper echelons of large corporations and the risk of reversing the progress made in gender parity has increased because of the effects of the COVID-19 pandemic. This paper contributes to previous literature by analysing the impact that the uncertainty and cognitive effects associated with COVID-19 in 2020 had on the presence of women on the board of directors and whether this impact has been moderated by the regulatory and policy system on gender quotas in place at the time.Design/methodology/approachTo test the authors' research hypotheses, the authors selected the major global companies worldwide with economic-financial and non-financial information available in the Thomson Reuters EIKON database over the 2015–2020 period. As a result, the authors' final sample is made up of 1,761 companies from 52 countries with different institutional settings that constitute an unbalanced data panel of 8,963 observations. The nature of the dependent variables requires the use of logistic regressions. The models incorporate the terms to control for any unobservable heterogeneity and the error term. Any endogeneity issues were addressed by considering the explanatory variables with a time lag.FindingsThe authors find that almost 30% of the companies downsized their boards in 2020. This decision resulted in more female than male directors being made redundant, causing a reversal in the fulfilment of gender quotas focussed on ensuring balanced boards with a female presence of 40% or more. This effect was enhanced in countries with hard-law regulation because the penalty for non-compliance with gender quotas had led to a significant increase in the size of these bodies in previous years through the inclusion of the required number of female directors. In contrast, the reduction in board size in soft-law countries does not differ from that in laissez-faire countries, lacking any moderating effect or impact on the number of female board members dismissed as a result of the pandemic.Originality/valueThis paper aims to contribute to current knowledge by analysing the impact that the countries' regulatory and normative systems on gender parity on boards of directors have had on the decisions made in relation to leadership positions, moderating the effects of the COVID-19 pandemic on gender equality at a global level.

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Section: Implications For Practice and Managementsupporting

confidence: 74%

Section: Conclusion and Discussionsupporting

confidence: 62%

The COVID-19, a crossroads for female directors

Garcia-Sanchez,

Uribe Bohorquez,

Aibar-Guzmán

et al. 2023

View full text Add to dashboard Cite

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Examining the relationship between CEO power and modern slavery disclosures: The moderating role of board gender diversity in UK companies

Allam,

Moussa,

Elmarzouky

2024

Bus Strat Env

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Drawing on agency and gender socialisation theories, this study examines the effect of Chief Executive Officer (CEO) power on corporate modern slavery disclosures (MSD) and investigates whether board gender diversity might influence this relationship. Based on a sample comprising the Financial Times Stock Exchange (FTSE) 100 companies from 2016 to 2020, the findings indicate that, although there has been progress in corporate transparency concerning modern slavery, a significant gap persists in the reporting on the measurement and monitoring of the effectiveness of their policies. This may stem from powerful CEOs' desires to maintain a positive corporate image, leading to minimal disclosure of potentially damaging information. The fixed effects panel regression analysis reveals a negative relationship between CEO power (CEOP) and the extent of modern slavery disclosures (MSD), with a significant moderating effect observed when female board representation is substantial. This evidence suggests that female board members may challenge groupthink and introduce diverse perspectives that can alter the board's dynamics, potentially mitigating the negative impact of CEOP on issues like modern slavery disclosure by encouraging more ethical and collective decision‐making. This research underscores the need for greater transparency and accountability in addressing modern slavery and promoting more responsible business practices.

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