The effect of women on boards and directors on business Sustainability
Abstract
Objective: this research aimed to analyze the effect of women on boards and directors on the corporate sustainability of companies with and without mandatory regulation of women in such positions.
Method: descriptive, documentary and quantitative research was carried out using the regression technique using the Ordinary Least Squares (OLS) model with robust standard errors.
Originality/Relevance: the proposed analysis is considered incipient in the national context and provides an explanation for the conflicting results found in the literature, denoting which aspects of business sustainability are impacted by the presence of women in senior management.
Results: the results showed a positive relationship between women on the Board of Directors and Executive Board in financial and market performance in companies with some type of regulation on the presence of women in senior management and in companies in countries without this type of regulation. Furthermore, the positive impact of women on the environmental and social disclosure of the companies analyzed was noted. Such evidence contributes to the literature related to women in senior management and corporate sustainability by reaffirming previous findings. The results found reinforce the argument that women play an important role in the corporate governance of companies and contribute to increasing corporate sustainability.
Contributions: for the corporate environment, the results highlight the feminine characteristics that tend to boost companies' results when in a leadership position. The main practical implication for companies seeking to develop sustainability is that based on the sample analyzed and under these conditions, the increase in women on boards and directors can influence the achievement of better financial and market results and greater environmental and social disclosures. . The findings of this research can help public policymakers to develop policies aimed at appointing women in senior management, given the benefits for business sustainability.
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