Post by account_disabled on Feb 28, 2024 2:31:49 GMT -5
It is certainly disconcerting that even though the business community is aware of the benefits of a diverse workforce, concrete actions to eliminate gender inequalities are still lacking. Without any desire to detract from business efforts, legislation and gender reforms have not yet managed to achieve this. However, it seems that the representation of more women on boards of directors is turning a corner in business. What is happening? We tell you!
As we said, countries like Norway have used legislative Changsha Mobile Number List and government pressure to include women in business leadership positions. However, despite there being few similar rules in the US, the rate of women on boards of directors has recently tripled. What do these actions respond to? What can governments and companies learn from this advance in equality?
According to an article on the KelloggInsight portal , a trio of powerful institutional investors are responsible for the notable increase in women on boards of directors.
“The Big Three” manage more than $15 trillion, representing three-quarters of index mutual fund assets. That means these companies have shares in almost every major US company.
Given this enormous influence, the researchers, Matsa and his collaborators, Todd Gormley of Washington University in St. Louis, and Vishal Gupta , Sandra Mortal and Lukai Yang of the University of Alabama, found evidence that the Big Three were in fact driving gender diversity in the boardroom, and that these efforts led to women occupying more powerful board positions than those driven by government quotas.
Blackrock, Vanguard and State Street have more than $15 trillion under management. pic.twitter.com/TiA43XMwOI
The big three is made up of powerful institutional investors: Vanguard, BlackRock and State Street.
BlackRock is a publicly traded corporation and is therefore under pressure to maximize profits for its shareholders. Vanguard, with US$3.6 trillion in assets under management as of mid-2016, is currently the fastest-growing asset manager of the Big Three. While Vanguard is mutually owned by its individual funds and therefore ultimately by the investors in these funds. Finally, State Street is slightly smaller than BlackRock and Vanguard, but is still one of the largest asset managers in the world. As of mid-2016, it had US$2.3 trillion in assets under management.
The Big Three changed the conversation about gender in corporate boardrooms.
women on boards of directors
The campaign for women on boards of directors
State Street led the Big Three's charge for gender diversity with its March 2017 "Fearless Girl" campaign, named for a statue of the same name the company placed in front of the "Charging Bull" sculpture on Wall Street. Earlier in 2018, Vanguard and BlackRock had launched similar campaigns.
Each member of the Big Three also backed their campaign with a threat: they would vote against the directors of any company that did not appoint more women to their boards. The directors of a corporate board are elected by the company's shareholders. And since Big Three investors tend to be a company's dominant shareholders, their voting threats are not idle.
As we said, countries like Norway have used legislative Changsha Mobile Number List and government pressure to include women in business leadership positions. However, despite there being few similar rules in the US, the rate of women on boards of directors has recently tripled. What do these actions respond to? What can governments and companies learn from this advance in equality?
According to an article on the KelloggInsight portal , a trio of powerful institutional investors are responsible for the notable increase in women on boards of directors.
“The Big Three” manage more than $15 trillion, representing three-quarters of index mutual fund assets. That means these companies have shares in almost every major US company.
Given this enormous influence, the researchers, Matsa and his collaborators, Todd Gormley of Washington University in St. Louis, and Vishal Gupta , Sandra Mortal and Lukai Yang of the University of Alabama, found evidence that the Big Three were in fact driving gender diversity in the boardroom, and that these efforts led to women occupying more powerful board positions than those driven by government quotas.
Blackrock, Vanguard and State Street have more than $15 trillion under management. pic.twitter.com/TiA43XMwOI
The big three is made up of powerful institutional investors: Vanguard, BlackRock and State Street.
BlackRock is a publicly traded corporation and is therefore under pressure to maximize profits for its shareholders. Vanguard, with US$3.6 trillion in assets under management as of mid-2016, is currently the fastest-growing asset manager of the Big Three. While Vanguard is mutually owned by its individual funds and therefore ultimately by the investors in these funds. Finally, State Street is slightly smaller than BlackRock and Vanguard, but is still one of the largest asset managers in the world. As of mid-2016, it had US$2.3 trillion in assets under management.
The Big Three changed the conversation about gender in corporate boardrooms.
women on boards of directors
The campaign for women on boards of directors
State Street led the Big Three's charge for gender diversity with its March 2017 "Fearless Girl" campaign, named for a statue of the same name the company placed in front of the "Charging Bull" sculpture on Wall Street. Earlier in 2018, Vanguard and BlackRock had launched similar campaigns.
Each member of the Big Three also backed their campaign with a threat: they would vote against the directors of any company that did not appoint more women to their boards. The directors of a corporate board are elected by the company's shareholders. And since Big Three investors tend to be a company's dominant shareholders, their voting threats are not idle.