"Naissance Capital, based in Zurich, will start the Women’s Leadership Fund in January, which will invest in companies whose boards include women. It also plans to take minority stakes in companies without women on their boards and to use its ownership to encourage changes.
R. James Breiding, a co-founder of Naissance Capital and a former director of Rothschild Corporate Finance, said the fund was created after several studies showed a correlation between the number of female directors and a company’s performance."
What studies?
One is by Adams and Ferreira and finds better monitoring since women directors are more apt to be in attendance and take a more active position in monitoring.
Another paper is by de Cabo, Gimeno, and Nieto that looks at EU firms and finds a similar story: that women are better at monitoring.
I will leave all nagging comments and jokes to the reader.
1 comment:
I was wondering how could the conclusion of such studies be interpreted given the underrepresentation of women in the top management or board of the companies.
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