Korn Ferry International: Lack Of Progress In Asia Pacific Board Diversity A Cause For Worry

This is source I found from another site, main source you can find in last paragraph

"When we speak of board diversity and steps to improve the landscape, there is no doubt that the Government has a very crucial role to play in this scheme of things. Most countries reviewed in this study showed little or no improvement. However, India, Australia and Malaysia have recently seen regulatory action or governmental support for promoting board diversity. This is why you can see a +1.3% change in India," said Navnit Singh, chairman and managing director of India for Korn Ferry International in a release.

The study, Building Diversity in Asia Pacific Boardrooms, is the fourth in the Korn Ferry Diversity Scorecard series and examined the largest 100 publicly listed companies' 2014 annual reports in ten Asia Pacific economies: Australia, China, Hong Kong, India, Indonesia, Japan, Malaysia, New Zealand, Singapore and South Korea. Based on the findings, firms with at least 10% of female board members delivered a 14.9% return on equity (ROE) in 2014 compared to just 12.6% for those without.

Despite a compelling business case for board diversity, the increase in gender board diversity continues at a slow pace. Women make up 10.2% of all directors in this latest study, up from 9.4% in 2013 and 8% in 2012. Only three out of ten countries showed substantial improvement.

India has made significant progress in broadening female representation across companies. Companies here have reported an increase in female board representation from 7.3% to 8.6% in 2014. The Company Act, which required all listed companies to have at least one woman on the board, has helped enable this broadening female representation.

At the bottom of the gender diversity rankings are South Korea and Japan with 2.6% and 3.3% female board members respectively, followed by Singapore at 7.7%. "Gender diversity isn't just about embracing diversity and creating the right work culture. It is also a very valuable tool, in terms of ensuring business growth and financial performance. India is displaying significant progress, but we still lag far behind many developed countries," said Singh.

"We need to raise awareness on how experienced women on boards can help improve financial performance. If we actively contribute towards creating conversation around the correlation between boardroom diversity and better corporate performance, then we can expect to see some rapid changes," he added.

This is source I found from another site, main source you can find in last paragraph

Source : https://economictimes.indiatimes.com/news/company/corporate-trends/india-shows-significant-progress-in-broadening-womens-representation-on-company-boards/articleshow/51894485.cms



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