Women have amplified their way on corporate boards with recent data indicating progression of gender balanced boards
Women have amplified their way on corporate boards with recent data indicating progression of gender balanced boards, however there is yet major concerns regarding the underrepresentation of female directors on board’s impacting corporate governance. With a relatively slow rate and lack of advancement, it will take a long time for women to reach the same level as their male counter parts on corporate boards. This gender imbalance concern is associated with numerous stereotypical assumptions that collectively diminish the ability for women to be a part of the decision making process on corporate boards. Factors include existing directors electing like-minded male candidates, assumptions of female directors not being eligible for boardroom discussions and mainly the stereotype of women labelled as being housekeepers and not for executive positions. Various arguments are reinforced to highlight the importance of gender diversity in boardrooms including profit maximising for companies as a result of diverse knowledge and skills reflecting in performance and undertaking of activities by a multitude of directors. Having a gender balanced board with various perspectives enables improved corporate governance standards. Despite arguments in favour of gender diversity, striving to endeavour gender balance on boards has been limited. Countries around the globe have difference corporate governance codes and practises in place to administer this inequality issue; however the lack of rules and regulations suggests it is the main barrier for the underrepresentation of women in the boardroom despite their presence proving beneficial for corporate governance.