Women on corporate boards are more likely than men to seek advice

Research shows that boards with women directors seek out more independent advisors

 
Man puzzling over a map while woman points the way
(Illustration by Kagan McLeod)

When it comes to high-level business decisions, it seems the stereotype holds true: Women are more likely than men to stop and ask for help.

According to a joint study from the University of British Columbia and the University of Utah, corporate boards that include women are more likely to seek help from financial advisers when faced with a takeover offer. The researchers noted that even a 10% increase in female directors on a board is linked to an increase in the likelihood of engaging a top-ranked advisor.

The researchers pointed out that when women were present on a board that was doing the bidding for a company, there was no significant association with the engagement of top-ranked advisors. Key takeaway: It’s wise to solicit outside opinions during a takeover, as a board could potentially face litigation if it doesn’t get a high enough price. Going it alone, the authors suggest, is a symptom of overconfidence. Hear that, fellas?

MORE ABOUT WOMEN IN BUSINESS AND WORKPLACE CULTURE:

Comments are closed.