Los consejos de administración en las sociedades cotizadas: avanzando en femenino
Abstract
Las nuevas demandas de diversidad de género han afectado indiscutiblemente en la nueva composición de los consejos de administración de las principales empresas cotizadas españolas. Centrándonos en el periodo 2004-2008, observamos un crecimiento de la cuota femenina del 4 por 100 al 8 por 100, especialmente intenso a raíz de la emisión del Código Unificado de Buen Gobierno. Además encontramos que las empresas con alto nivel de deuda e intensivas en I+D son las que cuentan con mayor participación femenina, confirmando que existe una relación positiva entre diversidad de género e independencia y entre dicha diversidad y el carácter innovador de la empresa.
ABSTRACT
New demands of gender diversity in the composition of the board of directors are noticeably affecting Spanish listed firms. Focusing on the evolution of the proportion of women directors between 2004-2008, we find that this proportion has increased from 4 por 100 to 8 por 100 in five years, mainly after the issue of the Unified Code of Good Practices.
We also find that firms possessing high debt ratios and which are intensive in research and development exhibit higher female director ratios, which corroborates that gender diversity and independence are highly correlated as well as gender diversity and innovation.
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