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. They also 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?
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