Table of Contents

Women on Corporate Boards of Directors

Women on Corporate Boards of Directors

International Research and Practice

New Horizons in Management series

Edited by Susan Vinnicombe, Val Singh, Ronald J. Burke, Diana Bilimoria and Morten Huse

This important new book addresses the growing international interest in women on corporate boards of directors.

Chapter 15: On the Progress of Corporate Women: Less a Glass Ceiling than a Bottleneck?

Dan R. Dalton and Catherine M. Dalton

Subjects: business and management, business leadership, diversity and management, organisational behaviour

Extract

Dan R. Dalton and Catherine M. Dalton INTRODUCTION It has been suggested that women’s positions as inside directors constitute a requisite step in their candidacy for promotion to CEO. Also, inside director positions may materially increase women’s networking capability through their facilitation of membership on multiple boards. SarbanesOxley (SOX) and the guidelines of the listing exchanges (for example, NYSE, NASDAQ), however, may have introduced an environment wherein women’s participation as inside board members may have been seriously compromised. We provide empirical analyses of women’s progress in securing inside board positions over the period one year pre-SOX (2001) through 2006.1 Based on the data, there is strong indication of substantial progress for women as inside directors as well as improved networking through additional directorships. Under the broad rubric of corporate governance, there is an extensive and distinguished tradition of research and commentary focusing on chief executive officers (CEOs) and CEO succession (for example, Agrawal et al., 2006; Bailey and Helfat, 2005; Deutsch, 2005; Zhang and Rajagopalan, 2004), top management teams (TMTs) (for example, Amason et al., 2006; Athanassiou and Kendall, 2006; Certo et al., 2006; Cohen and Dean, 2005; Hayes et al., 2006; Krishnan, 2005; Wright et al., 2007) and boards of directors (for example, Arthaud-Day et al., 2006; Bozec, 2005; DeFond et al., 2005; Fich and Shivdasani, 2006; Fogel and Geier, 2007; Hillman, 2005; Kor, 2006; Linck et al., 2008; Raheja, 2005; Westphal and Bednar, 2005). This impressive body of work is notable for several reasons, all of which...

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