Business students, CABLE present results of study on women on corporate boards
Janel Shoun |
Click here to see coverage of the story in the Nashville Business Journal
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Laura Smith Tidwell
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David Boyer
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The study, conducted by undergraduate and graduate business students for the Nashville women’s networking organization CABLE, showed that not only has the percentage of women serving on Tennessee’s corporate boards barely grown, but the overall number of women on boards has declined and the percentage of women serving on board positions of non-Fortune 500 also declined.
In 2004, CABLE commissioned the Women on Boards Study which showed that only 7.3 percent of the available corporate board seats in the state were held by women. The Lipscomb study looked at the progress as of 2006, and found that only 8.2 percent of the board seats were filled by women at that time, not a statistically significant difference, say the student researchers.
“Most of the Fortune 500 companies have grown in the number of women in executive officer and board positions. The Fortune 500 have been leading the way in that area. But in the rest of the companies, there are even less women in the executive officer and board positions,” said Kate Austen, a Lipscomb MBA student and leader of the project management team for the study titled “Women in Corporate Leadership: Untapped Potential.”
On Thursday, the students presented their results, along with CABLE president Laura Smith Tidwell, new College of Business Dean Turney Stevens, and women of the local business community. Lipscomb students David Boyer and Jenny Stephenson presented the findings and contributing factors.
In surveying past research, the students found that many of the barriers to female representation on corporate boards was the conflict between work and family, the traditional male networking scene – such as golf and meeting in bars – that may not appeal to as many women, and how gender traits are traditional perceived (such as “men are aggressive,” but “women are bossy”), Austen said.
Further results of the 2008 study depict a decrease in the total number of public companies in Tennessee as compared to the number of companies analyzed in 2004. This decrease can be attributed to such changes as mergers/acquisitions, leveraged buyouts and companies going out of business.
“The results of this study demonstrate that Tennessee still has work to do to increase the number of women directors and women executives at publicly traded companies. Tennessee is home to many talented, intelligent women who would be assets to companies either as directors or executives. CABLE is committed to continuing our efforts of identifying available board positions and helping women become prepared to serve on boards,” said Laura Smith Tidwell, president of CABLE.
A comparison of the 2008 Tennessee study to similar studies in other states produced interesting findings:
- Tennessee’s 2008 study finds that 8.20% (52) of the 634 corporate board seats are held by women and 8.45% (44) of 521 executives are women.
- Wisconsin’s 2007 study showed 12.33% (55) of 446 corporate board seats were occupied by women and 12.29% (52) of 423 executives were women.
- Michigan’s 2007 study showed 9.82% (87) of 886 corporate board seats were held by women and 11.62% (88) of 757 executives were women.
- Florida’s 2006 study showed 8.68% (105) of 1221 corporate board seats were occupied by women and 5.40% (39) of 722 executives were women.