A Cross-Country Study on Women Directorship with a Special Emphasis on Indian Corporate Governance Scenario
DOI:
https://doi.org/10.33516/rb.v42i3.19-37pKeywords:
Corporate Governance, Equal Opportunity, Women Directorship.Abstract
Across the ages the focal point of all the organization irrespective of their frontiers of operations is towards achieving optimum utilization of available workforce by ensuring equal opportunity and providing fair and unbiased treatment to all. A diversified workforce not only indicates the principle of 'equal opportunity employer' in favour of firms but also gives the female population a winning edge. It is no longer a man's world where boardrooms will only have the exclusive representation of male directors but also be opened for pink collar directors engaged into brain storming on a topic and reaching a consensus. Across the World inclusion of women directors in board became a legal imperative. Countries like Norway, France had passed a law in favour of inclusion of at least 40% women directors in the board. India is not far behind. The new Companies Act 2013 [Section 149 (1)] clearly says the category of companies required to comply having at least one woman director in the board by 1st April, 2015. Against this backdrop, the present study is envisaged to make an exhaustive study on the legal provisions and practices towards promoting gender diversity in boardroom in various developed, developing and emerging nations across the World. Moreover, the present study is also aimed towards identifying the state of affairs relating to the women directorship and the corporate governance practices of selected major listed companies in India. Aer studying the governance structure as well as the gender diversity paern of the S&P BSE-SENSEX companies in India, it has been found that there exists no statistically significant difference in their corporate governance disclosure practices due to the inclusion of women directorship. However, it may be very early to make such a comment since the law has just passed less than two years ago and we have to patiently observe a few more years to have conclusive evidence on the role of gender diversity in board and corporate governance affairs of the entities.Downloads
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