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Title of the item:

Tokenism or Realism? Gender Inclusion Lens for Corporate Boards & Ownership Structure In India.

Title :
Tokenism or Realism? Gender Inclusion Lens for Corporate Boards & Ownership Structure In India.
Authors :
Haldar, Arunima
Datta, Sumita
Shah, Snehal
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Source :
Academy of Management Annual Meeting Proceedings; 2019, Vol. 2019 Issue 1, p1-1, 1p
Conference
Factors influencing inclusion of women on corporate boards are fairly complex; especially for an emerging economy such as India with traditional roots characterized by collectivist, patriarchal and hierarchical aspects of its society. As per recent revision of the Companies Act, 2013, corporate boards of listed companies are mandated to have at least one-woman representative as a Director on the corporate board. In the light of this legislation, drawing upon the resource dependence theory of the firm, the study explores factors that influence women's appointment on corporate boards. More specifically, the paper investigates how the interplay of women-specific human and social capital factors with ownership structure impacts her chances to get director level appointment and committee membership. Employing logistic regression as a methodology in the study, counter intuitive findings emerge revealing negative effects of social capital on appointment of independent women directors. This relationship gets reversed when social capital is moderated by ownership structure. When the equation is tested for committee membership, social capital is found to have a positive effect but the relationship is reversed when moderated by ownership structure. As hypothesized, human and social capital interact to have a significant positive effect on appointment as independent women directors. Unique societal characteristics driving these findings are discussed to uncover cultural nuances influencing gender inclusion. The paper is a first of its kind that combines aspects of human resource capital and ownership structure using data from India. By developing several new proxy variables to enrich the construct of social capital it contributes to the corporate governance literature and lastly, through main and interaction effects, the paper offers a deeper understanding about the impact of endogenous factors of corporate boards on women's representation at leadership levels in India. [ABSTRACT FROM AUTHOR]
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