Gender balance on boards: Stakeholders identification
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Published
18-09-2018
Pilar de Luis Carnicer
Estrella Bernal Cuenca
María José Vela Jiménez
Manuela Pérez Pérez
Abstract
Recent Spanish law and regulations have turned gender balance on Boards of Directors into a necessary element to manage in companies. The aim of this paper is to identify the stakeholders demanding such gender balance to companies, according to the Methodology of Mitchell et al. (1997) and Agle et al. (1999). The results sugest the shareholders are the most important group, so it seems that the financial goals continue being a priority. But we also observe that the Government is perceived as a very important stakeholder. Despite managers acknowledge the Government has a lot of power, its importance is explained by urgency and legitimacy attributes. This fact makes us doubting about the effectiveness of any development of a compulsory law, beyond the current one.
How to Cite
de Luis Carnicer, P., Bernal Cuenca, E., Vela Jiménez, M. J., & Pérez Pérez, M. (2018). Gender balance on boards: Stakeholders identification. Cuadernos De Gestión, 11(3), 49–72. https://doi.org/10.5295/cdg.100243pd
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Keywords
Gender Balance, Female Managers, Stakeholders Theory, Corporative Government, Corporate Social Responsibility
References
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AGLE, B.R.; MITCHELL, R.K. y SONNENFELD, J.A. (1999): “Who Matters to CEOS? An Investigation of Stakeholder Attributes and Salience, Corporate Performance, and CEO Values”, Academy of Management Journal, Vol. 42, Nº. 5, pp. 507-525.
BILIMORIA, D. (2006): “The Relationship between Women Corporate Directors and Women Corporate Officers”, Journal of Managerial Issues, Vol. 13, Nº. 1, pp. 47-61.
BRAMMER, S., MILLINGTON, A. y PAVELIN, S. (2009): “Corporate Reputation and Women on the Board” British Journal of Management, Vol. 20, Nº. 1, pp 17-29.
BURTON, B. K. y DUNN, C.P. (1996):”Feminist Ethics as Moral Grounding for Stakeholder Theory” Business Ethics Quarterly, Vol. 6, Nº. 2, pp. 133-147.
CARRASCO, A. y LAFFARGA, J. (2007) “La diversidad de género en el CODIG Unificado español y la práctica empresarial”, Pecunia, Nº. 4, pp. 1-25.
CARROLL, A.B. (1991): “The Pyramid of Corporate Social Responsibility: toward the Moral Management of Organizational Stakeholders”, Business Horizons, Vol. 34, Nº. 4, pp. 39-48.
CARROLL, A.B. y SHABANA, K.M. (2010): “The Business Case for Corporate Social Responsibility: A Review of Concepts, Research and Practice”, International Journal of Management Reviews, DOI: 10.1111/j.1468-2370.2009.00275.x
CARTER, D.; SIMKINS, B. y SIMPSON, W. (2003): “Corporate Governance, Board Diversity, and Firm Value”, the Financial Review, Vol. 38, Nº. 1, pp. 33-53.
CRAGG, W. (2002): “Business Ethics and Stakeholder Theory”, Business Ethics Quarterly, Vol. 12 Nº. 2, pp. 113-142.
CRITTENDEN, C. (2000): “Ecofeminism Meets Business: A Comparison Of Ecofeminist, Corporate, and Free Market Ideologies”, Journal of Business Ethics, Vol. 24 Nº. 1, pp. 51-63.
DE LUIS, P.; MARTINEZ, A.; PEREZ, M. y VELA, M.J. (2007): “La diversidad de género en la alta dirección de las mayores empresas españolas”, Investigaciones Europeas de Dirección y Economía de la Empresa, Vol. 13, Nº. 2 pp. 33-53.
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DIAZ DE RADA, V. (2005): “Measure and control of non-response in a mail survey”, European Journal of Marketing, Vol. 39, Nº. 1-2, pp. 16-32.
DÍEZ, F.; MEDRANO, M. L. y DÍEZ, E. P. (2008): “Los grupos de interés y la presión medioambiental”, Revista Cuadernos de Gestión, Vol.8; Nº.2, pp. 81-96.
DIMOWSKI, W. y BROOKS, R. (2008): “The gender composition of boards after an IPO”, Corporate Governance, Vol. 6, Nº. 1, pp 11-17.
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FERNANDEZ, R. y NIETO M. (2004): “Stakeholder Salience in Corporate Environmental Strategy”, Corporate Governance, Vol. 4, Nº. 3, pp. 65-76.
FRANCOEUR, C.; LABELLE, R. y SINCLAIR-DESGAGNÉ, B. (2007): “Gender Diversity in Corporate Governance and Top Management”, Journal of Business Ethics, Vol. 81, Nº. 1, pp. 83-95.
FREEMAN, R.E. (1984): Strategic Management: A Stakeholder Approach, Boston, Pitman.
GALBREATH, J.: “How Does Corporate Social Responsibility Benefit Firms? Evidence From Australia, Curtin University Of Technology, Perth, Australia.
GREENWOOD, M. (2007): “Stakeholder Engagement: Beyond the Myth of Corporate Responsibility”, Journal of Business Ethics, Vol. 74, Nº. 4, pp. 315-327.
GROSSER, K y MOON, J (2005): “Gender Mainstreaming and Corporate Social Responsibility: Reporting Workplace Issues”, Journal of Business Ethics, Vol. 62, Nº. 4, pp. 327-340.
GROSSER, K y MOON, J (2008): “Developments in company reporting on workplace gender equality? A corporate social responsibility perspective”, Accounting Forum, Vol. 32, Nº. 3, pp. 179-198.
GROSSER, K. (2009): “Corporate social responsibility and gender equality: women as stakeholders and the European Union sustainability strategy”, Business Ethics: A European Review, Vol. 18, Nº. 3, pp. 290-307.
HAUSMANN, R.; TYSON, L. D. y ZAHIDI, S. (2010): “The Global Gender Gap Report” World Economic Forum.
HENRIQUES, I. y SADORSKY, R.F. (1999): “Stakeholders, Social Responsibility and Performance: Empirical Evidence and Theoretical Perspectives”, Academy of Management Journal, Vol. 42, Nº. 5, pp. 479-487.
HUSE, M. y SOLVERG, A.G. (2006): “Gender Related Boardroom Dynamics: How Scandinavian Women Make and Can Make Contributions on Corporate Boards”, Women in Management Review, Vol. 21, Nº. 2, pp. 113-130.
INSTITUTO DE LA MUJER (2011): Estadísticas “Poder y toma de decisiones” www.inmujer.es/ss/Satellite
KOCHAN, T., BEZRUKOVA, K., ELY, R., JACKSON, S., JOSHI, A., JEHN, K., LEONARD, J., LEVINE, D. y THOMAS, D. (2003): “The effects of diversity on business performance: report of the diversity network”, Human Resource Management, Vol. 42, Nº.1 pp. 3-21.
KRISHNAN, H. y PARK, D. (2005): “A few good women on top management teams”, Journal of Business Research, Vol. 58, Nº. 12, pp. 1712-1720.
LAPLUME, A.O.; SONPAR, K. y LITZ, R.A.: (2008): “Stakeholder theory: Reviewing a theory that moves us”, Journal of Management, Vol. 34, Nº. 6, pp. 1152-1189.
MACHOLD, S; AHMED, P. K., y FARQUHAR, S.S. (2008): “Corporate Governance and Ethics: A Feminist Perspective”, Journal of Business Ethics, Vol. 81, Nº. 3, pp. 665-678.
MATEOS de CABO, R, GIMENO, R, y ESCOT, L (2011): “Disentangling Discrimination on Spanish Boards of Directors”, Corporate Governance: an International Review, Vol. 19, Nº. 1, pp. 77-95.
MITCHELL, R.K.; AGLE, B.R. y WOOD, D.J. (1997): “Toward a Theory of Stakeholder Identification and Salience: Defining the Principle of Who and What Really Counts”, Academy of Management Review, Vol. 22, Nº.4, pp. 853-886.
OJEDA, A. (1978): La congestión de las grandes empresas en Europa: la experiencia alemana y la Ley de cogestión de 1976, Sevilla, Universidad de Sevilla
PANDEY, A. (2010), “Greening Garhwal through Stakeholder Engagement: the Role of Ecofeminism, Community and the State in Sustainable Development”, Sustainable Development, Vol. 18, Nº. 1, p.12-19.
REED, M.S. (2008): “Stakeholder participation for environmental management: a literature review”, Biological Conservation, Vol. 141, Nº. 10, pp. 2417-2431.
RODRÍGUEZ, J. M. (2003): El gobierno de la Empresa: Un Enfoque Alternativo, Madrid, Ediciones Akal.
RODRÍGUEZ, J. M. (2006): “La Responsabilidad Social de la Empresa: ¿Un Medio o un Fin?”, Revista de Dirección y Administración de Empresas, Nº. 13, 53-77.
ROSE, C. (2007): Does female board representation influence firm performance? The Danish evidence, Corporate Governance: An International Review, Vol. 15, Nº. 2, 404-413.
RYAN, M. y HASLAM, S.A. (2005): “The glass cliff: evidence that women are over-represented in precarious leadership positions”, British Journal of Management, Vol. 16, Nº. 1, pp. 81-90
RYAN, M. y HASLAM, S.A. (2007): “The glass cliff: exploring the dynamics surrounding the appointment of women to precarious leadership positions”, Academy of Management Review, Vol. 32, Nº. 2, 549-572.
SCHOLEM, P. y MAVONDO, F. (2003): Stakeholders & Gender: A New Phenomenon?, Adelaide, ANZMAC 2003 Conference Proceedings.
SCHYNS, B. y SANDERS, K. (2005): “Exploring Gender Differences in Leaders’ Occupational Self-Efficacy”, Women in Management Review, Vol. 20, Nº. 7, pp. 513-523.
SMITH, N.; SMITH, V. y VERNER, M. (2006): “Do Women in Top Management Affect Firm Performance? A Panel Study of 2,500 Danish Firms”, International Journal of Productivity and Performance Management, Vol. 55, Nº. 7, pp. 569-593.
SMYTH, H. (2008): “The Credibility Gap in Stakeholder Management: Ethics and Evidence of Relationship Management”, Construction Management and Economics, Vol. 26 Nº. 6, pp. 633-643.
SYED, J. y MURRAY PP. (2008): “A Cultural Feminist Approach Towards Managing Diversity in Top Management Teams”, Equal Opportunities International, Vol. 27, Nº. 5, pp. 413-432.
VELEVA, V. (2005): Gender Diversity and Financial Performance, Citizens Advisers, Inc. http://www.citizensfunds.org/common/pdfs/Gender_Diversity_Paper_1105.pdf
WICKS, A.; GILBERT Jr. D. y FREEMAN, E. (1994): “A feminist reinterpretation of the stakeholder concept”, Business Ethics Quarterly, Vol. 4, Nº. 4, pp. 475-498.
AGLE, B.R.; MITCHELL, R.K. y SONNENFELD, J.A. (1999): “Who Matters to CEOS? An Investigation of Stakeholder Attributes and Salience, Corporate Performance, and CEO Values”, Academy of Management Journal, Vol. 42, Nº. 5, pp. 507-525.
BILIMORIA, D. (2006): “The Relationship between Women Corporate Directors and Women Corporate Officers”, Journal of Managerial Issues, Vol. 13, Nº. 1, pp. 47-61.
BRAMMER, S., MILLINGTON, A. y PAVELIN, S. (2009): “Corporate Reputation and Women on the Board” British Journal of Management, Vol. 20, Nº. 1, pp 17-29.
BURTON, B. K. y DUNN, C.P. (1996):”Feminist Ethics as Moral Grounding for Stakeholder Theory” Business Ethics Quarterly, Vol. 6, Nº. 2, pp. 133-147.
CARRASCO, A. y LAFFARGA, J. (2007) “La diversidad de género en el CODIG Unificado español y la práctica empresarial”, Pecunia, Nº. 4, pp. 1-25.
CARROLL, A.B. (1991): “The Pyramid of Corporate Social Responsibility: toward the Moral Management of Organizational Stakeholders”, Business Horizons, Vol. 34, Nº. 4, pp. 39-48.
CARROLL, A.B. y SHABANA, K.M. (2010): “The Business Case for Corporate Social Responsibility: A Review of Concepts, Research and Practice”, International Journal of Management Reviews, DOI: 10.1111/j.1468-2370.2009.00275.x
CARTER, D.; SIMKINS, B. y SIMPSON, W. (2003): “Corporate Governance, Board Diversity, and Firm Value”, the Financial Review, Vol. 38, Nº. 1, pp. 33-53.
CRAGG, W. (2002): “Business Ethics and Stakeholder Theory”, Business Ethics Quarterly, Vol. 12 Nº. 2, pp. 113-142.
CRITTENDEN, C. (2000): “Ecofeminism Meets Business: A Comparison Of Ecofeminist, Corporate, and Free Market Ideologies”, Journal of Business Ethics, Vol. 24 Nº. 1, pp. 51-63.
DE LUIS, P.; MARTINEZ, A.; PEREZ, M. y VELA, M.J. (2007): “La diversidad de género en la alta dirección de las mayores empresas españolas”, Investigaciones Europeas de Dirección y Economía de la Empresa, Vol. 13, Nº. 2 pp. 33-53.
DEL BRIO, E. y DEL BRIO, I. (2009): “Los Consejos de Administración en las Sociedades Cotizadas: Avanzando en Femenino”, Revista de Estudios Empresariales, Nº.1, pp. 102-118.
DIAZ DE RADA, V. (2005): “Measure and control of non-response in a mail survey”, European Journal of Marketing, Vol. 39, Nº. 1-2, pp. 16-32.
DÍEZ, F.; MEDRANO, M. L. y DÍEZ, E. P. (2008): “Los grupos de interés y la presión medioambiental”, Revista Cuadernos de Gestión, Vol.8; Nº.2, pp. 81-96.
DIMOWSKI, W. y BROOKS, R. (2008): “The gender composition of boards after an IPO”, Corporate Governance, Vol. 6, Nº. 1, pp 11-17.
DU RIETZ, A. y HENREKSON, M. (2000): “Testing the female underperformance hypothesis, Small Business Economics”, Vol. 14, Nº. 1, pp. 1-10.
ELÓSEGUI, M y LOUSADA, F. (2007): “La participación de las mujeres en los consejos de administración de las sociedades mercantiles”, Revista del Poder Judicial, Nº. 86, pp. 255-284.
ELY, R. y PADAVIC, I. (2007): “A feminist Analysis of Organizational Research on Sex Differences”, Academic of Management Review, Vol. 32, Nº. 4, pp. 1121-1143.
ERHARDT, N., WERBEL, J. and SCHRADER, C. (2003): Board of director diversity and firm financial performance, Corporate Governance: An International Review, Vol.11, Nº. 2 , pp. 102-111.
EUROPEAN COMMISSION (2004): Green Paper: Equality and non-discrimination in an Enlarged European Union: Fundamental Rights and Anti-discrimination, Luxemburgo, Office for Official Publications of the European Communities.
EUROPEAN COMMISSION (2005): Work Programme for 2005, for the Implementation of the Framework Strategy on Gender Equality, European Commission. SEC (2005): 1044, Brussels.
FERNANDEZ, R. y NIETO M. (2004): “Stakeholder Salience in Corporate Environmental Strategy”, Corporate Governance, Vol. 4, Nº. 3, pp. 65-76.
FRANCOEUR, C.; LABELLE, R. y SINCLAIR-DESGAGNÉ, B. (2007): “Gender Diversity in Corporate Governance and Top Management”, Journal of Business Ethics, Vol. 81, Nº. 1, pp. 83-95.
FREEMAN, R.E. (1984): Strategic Management: A Stakeholder Approach, Boston, Pitman.
GALBREATH, J.: “How Does Corporate Social Responsibility Benefit Firms? Evidence From Australia, Curtin University Of Technology, Perth, Australia.
GREENWOOD, M. (2007): “Stakeholder Engagement: Beyond the Myth of Corporate Responsibility”, Journal of Business Ethics, Vol. 74, Nº. 4, pp. 315-327.
GROSSER, K y MOON, J (2005): “Gender Mainstreaming and Corporate Social Responsibility: Reporting Workplace Issues”, Journal of Business Ethics, Vol. 62, Nº. 4, pp. 327-340.
GROSSER, K y MOON, J (2008): “Developments in company reporting on workplace gender equality? A corporate social responsibility perspective”, Accounting Forum, Vol. 32, Nº. 3, pp. 179-198.
GROSSER, K. (2009): “Corporate social responsibility and gender equality: women as stakeholders and the European Union sustainability strategy”, Business Ethics: A European Review, Vol. 18, Nº. 3, pp. 290-307.
HAUSMANN, R.; TYSON, L. D. y ZAHIDI, S. (2010): “The Global Gender Gap Report” World Economic Forum.
HENRIQUES, I. y SADORSKY, R.F. (1999): “Stakeholders, Social Responsibility and Performance: Empirical Evidence and Theoretical Perspectives”, Academy of Management Journal, Vol. 42, Nº. 5, pp. 479-487.
HUSE, M. y SOLVERG, A.G. (2006): “Gender Related Boardroom Dynamics: How Scandinavian Women Make and Can Make Contributions on Corporate Boards”, Women in Management Review, Vol. 21, Nº. 2, pp. 113-130.
INSTITUTO DE LA MUJER (2011): Estadísticas “Poder y toma de decisiones” www.inmujer.es/ss/Satellite
KOCHAN, T., BEZRUKOVA, K., ELY, R., JACKSON, S., JOSHI, A., JEHN, K., LEONARD, J., LEVINE, D. y THOMAS, D. (2003): “The effects of diversity on business performance: report of the diversity network”, Human Resource Management, Vol. 42, Nº.1 pp. 3-21.
KRISHNAN, H. y PARK, D. (2005): “A few good women on top management teams”, Journal of Business Research, Vol. 58, Nº. 12, pp. 1712-1720.
LAPLUME, A.O.; SONPAR, K. y LITZ, R.A.: (2008): “Stakeholder theory: Reviewing a theory that moves us”, Journal of Management, Vol. 34, Nº. 6, pp. 1152-1189.
MACHOLD, S; AHMED, P. K., y FARQUHAR, S.S. (2008): “Corporate Governance and Ethics: A Feminist Perspective”, Journal of Business Ethics, Vol. 81, Nº. 3, pp. 665-678.
MATEOS de CABO, R, GIMENO, R, y ESCOT, L (2011): “Disentangling Discrimination on Spanish Boards of Directors”, Corporate Governance: an International Review, Vol. 19, Nº. 1, pp. 77-95.
MITCHELL, R.K.; AGLE, B.R. y WOOD, D.J. (1997): “Toward a Theory of Stakeholder Identification and Salience: Defining the Principle of Who and What Really Counts”, Academy of Management Review, Vol. 22, Nº.4, pp. 853-886.
OJEDA, A. (1978): La congestión de las grandes empresas en Europa: la experiencia alemana y la Ley de cogestión de 1976, Sevilla, Universidad de Sevilla
PANDEY, A. (2010), “Greening Garhwal through Stakeholder Engagement: the Role of Ecofeminism, Community and the State in Sustainable Development”, Sustainable Development, Vol. 18, Nº. 1, p.12-19.
REED, M.S. (2008): “Stakeholder participation for environmental management: a literature review”, Biological Conservation, Vol. 141, Nº. 10, pp. 2417-2431.
RODRÍGUEZ, J. M. (2003): El gobierno de la Empresa: Un Enfoque Alternativo, Madrid, Ediciones Akal.
RODRÍGUEZ, J. M. (2006): “La Responsabilidad Social de la Empresa: ¿Un Medio o un Fin?”, Revista de Dirección y Administración de Empresas, Nº. 13, 53-77.
ROSE, C. (2007): Does female board representation influence firm performance? The Danish evidence, Corporate Governance: An International Review, Vol. 15, Nº. 2, 404-413.
RYAN, M. y HASLAM, S.A. (2005): “The glass cliff: evidence that women are over-represented in precarious leadership positions”, British Journal of Management, Vol. 16, Nº. 1, pp. 81-90
RYAN, M. y HASLAM, S.A. (2007): “The glass cliff: exploring the dynamics surrounding the appointment of women to precarious leadership positions”, Academy of Management Review, Vol. 32, Nº. 2, 549-572.
SCHOLEM, P. y MAVONDO, F. (2003): Stakeholders & Gender: A New Phenomenon?, Adelaide, ANZMAC 2003 Conference Proceedings.
SCHYNS, B. y SANDERS, K. (2005): “Exploring Gender Differences in Leaders’ Occupational Self-Efficacy”, Women in Management Review, Vol. 20, Nº. 7, pp. 513-523.
SMITH, N.; SMITH, V. y VERNER, M. (2006): “Do Women in Top Management Affect Firm Performance? A Panel Study of 2,500 Danish Firms”, International Journal of Productivity and Performance Management, Vol. 55, Nº. 7, pp. 569-593.
SMYTH, H. (2008): “The Credibility Gap in Stakeholder Management: Ethics and Evidence of Relationship Management”, Construction Management and Economics, Vol. 26 Nº. 6, pp. 633-643.
SYED, J. y MURRAY PP. (2008): “A Cultural Feminist Approach Towards Managing Diversity in Top Management Teams”, Equal Opportunities International, Vol. 27, Nº. 5, pp. 413-432.
VELEVA, V. (2005): Gender Diversity and Financial Performance, Citizens Advisers, Inc. http://www.citizensfunds.org/common/pdfs/Gender_Diversity_Paper_1105.pdf
WICKS, A.; GILBERT Jr. D. y FREEMAN, E. (1994): “A feminist reinterpretation of the stakeholder concept”, Business Ethics Quarterly, Vol. 4, Nº. 4, pp. 475-498.
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