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Women and ethnic minorities on boards / Nor Azrina Mohd Yusof

Worldwide, it is argued that women face a glass ceiling when it comes to holding top corporate officer position. This is because they hold so few officer positions, an d hold few board seats. According to MarthurHelm (2006), a glass ceiling means the failure...

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Main Author: Mohd Yusof, Nor Azrina
Format: Book Section
Language:English
Published: Faculty of Accountancy, UiTM Kedah 2019
Subjects:
Leadership in women. Women executives
HT Communities. Classes. Races
Online Access:https://ir.uitm.edu.my/id/eprint/47542/1/47542.pdf
https://ir.uitm.edu.my/id/eprint/47542/
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spelling my.uitm.ir.475422021-11-18T12:04:30Z https://ir.uitm.edu.my/id/eprint/47542/ Women and ethnic minorities on boards / Nor Azrina Mohd Yusof Mohd Yusof, Nor Azrina Leadership in women. Women executives HT Communities. Classes. Races Worldwide, it is argued that women face a glass ceiling when it comes to holding top corporate officer position. This is because they hold so few officer positions, an d hold few board seats. According to MarthurHelm (2006), a glass ceiling means the failure of women and other minority groups in climbing up the corporate ladder, despite seeing the top jobs, they are still not reaching them due to discriminatory barriers . Whilst, Hacker (1951) stated that a minority group is any group of people who because of their physical or cultural characteristics are singled out from the others in the society in which they live for differential and unequal treatment and who therefore regard themselves as objects of collective discrimination. For instance, in Japan, women comprise less than 1% of average board, whereby in Malaysia, in average, there are about 4.2% women on boards. Surprisingly, there were no women on boardroom was foun d in Morocco (Governance Metrics International, 2009). In United States, Adams and Ferreira (2007) found that women only held 13.6% of Fortune 500 board seats in 2003. Furthermore, Bourez (2005) claimed that many firms have only one female director that ca n be regarded as evidence of tokenism. The biggest corporate scandals such as Enron and WorldCom have turned public attention to the composition of corporate boards of directors who are responsible for firm governance (Singh, Terjesen and Vinnicombe, 2008) . This situation is likely to change because boards around the world are under increasing pressure to choose female directors. The extreme promotion of gender diversity occurs in Norway whereby all listed companies must abide by a 40% gender quota for fema le directors or else, they will face delisting (Adams & Ferreira., 2007). According to Randoy, Thomsen and Oxelheim (2006), there are five types of diversity. First, the employee representation on boards. For example, in Norway, employees have the right t o elect 1/3 of the directors if their firms have more than two hundred employees. Employee’s representation adds both to the size and to the diversity of boards. Second, the female board members. By referring to the 448 Scandinavian firms, 14.5% of the boa rd members are women and shareholders elect most of them. Hence, the ratio of female to male board member is roughly 1:7, which is a significant deviation from equality, or 1:1. Third diversity is foreign board members. The fraction of foreign board member s that is 8.4% is relatively low, particularly given that most of the public listed firms in Scandinavia do most of their business internationally and having foreign employees. Fourth, in term of age diversity. A survey conducted among Scandinavian firms r evealed that the average board member in a listed firm 11 Faculty of Accountancy, UiTM Kedah 2019 Book Section PeerReviewed text en https://ir.uitm.edu.my/id/eprint/47542/1/47542.pdf ID47542 Mohd Yusof, Nor Azrina (2019) Women and ethnic minorities on boards / Nor Azrina Mohd Yusof. In: Accounting Bulletin: Faculty of Accountancy UiTM Kedah 2019. Faculty of Accountancy, UiTM Kedah, UiTM Cawangan Kedah, pp. 11-12. ISBN 2637-0646 (Submitted)
institution Universiti Teknologi Mara
building Tun Abdul Razak Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universiti Teknologi Mara
content_source UiTM Institutional Repository
url_provider http://ir.uitm.edu.my/
language English
topic Leadership in women. Women executives
HT Communities. Classes. Races
spellingShingle Leadership in women. Women executives
HT Communities. Classes. Races
Mohd Yusof, Nor Azrina
Women and ethnic minorities on boards / Nor Azrina Mohd Yusof
description Worldwide, it is argued that women face a glass ceiling when it comes to holding top corporate officer position. This is because they hold so few officer positions, an d hold few board seats. According to MarthurHelm (2006), a glass ceiling means the failure of women and other minority groups in climbing up the corporate ladder, despite seeing the top jobs, they are still not reaching them due to discriminatory barriers . Whilst, Hacker (1951) stated that a minority group is any group of people who because of their physical or cultural characteristics are singled out from the others in the society in which they live for differential and unequal treatment and who therefore regard themselves as objects of collective discrimination. For instance, in Japan, women comprise less than 1% of average board, whereby in Malaysia, in average, there are about 4.2% women on boards. Surprisingly, there were no women on boardroom was foun d in Morocco (Governance Metrics International, 2009). In United States, Adams and Ferreira (2007) found that women only held 13.6% of Fortune 500 board seats in 2003. Furthermore, Bourez (2005) claimed that many firms have only one female director that ca n be regarded as evidence of tokenism. The biggest corporate scandals such as Enron and WorldCom have turned public attention to the composition of corporate boards of directors who are responsible for firm governance (Singh, Terjesen and Vinnicombe, 2008) . This situation is likely to change because boards around the world are under increasing pressure to choose female directors. The extreme promotion of gender diversity occurs in Norway whereby all listed companies must abide by a 40% gender quota for fema le directors or else, they will face delisting (Adams & Ferreira., 2007). According to Randoy, Thomsen and Oxelheim (2006), there are five types of diversity. First, the employee representation on boards. For example, in Norway, employees have the right t o elect 1/3 of the directors if their firms have more than two hundred employees. Employee’s representation adds both to the size and to the diversity of boards. Second, the female board members. By referring to the 448 Scandinavian firms, 14.5% of the boa rd members are women and shareholders elect most of them. Hence, the ratio of female to male board member is roughly 1:7, which is a significant deviation from equality, or 1:1. Third diversity is foreign board members. The fraction of foreign board member s that is 8.4% is relatively low, particularly given that most of the public listed firms in Scandinavia do most of their business internationally and having foreign employees. Fourth, in term of age diversity. A survey conducted among Scandinavian firms r evealed that the average board member in a listed firm 11
format Book Section
author Mohd Yusof, Nor Azrina
author_facet Mohd Yusof, Nor Azrina
author_sort Mohd Yusof, Nor Azrina
title Women and ethnic minorities on boards / Nor Azrina Mohd Yusof
title_short Women and ethnic minorities on boards / Nor Azrina Mohd Yusof
title_full Women and ethnic minorities on boards / Nor Azrina Mohd Yusof
title_fullStr Women and ethnic minorities on boards / Nor Azrina Mohd Yusof
title_full_unstemmed Women and ethnic minorities on boards / Nor Azrina Mohd Yusof
title_sort women and ethnic minorities on boards / nor azrina mohd yusof
publisher Faculty of Accountancy, UiTM Kedah
publishDate 2019
url https://ir.uitm.edu.my/id/eprint/47542/1/47542.pdf
https://ir.uitm.edu.my/id/eprint/47542/
_version_ 1717097174663168000
score 13.211869

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