Annick Masselot, University of Canterbury, New Zealand

Akshaya Kamalnath, Deakins University, Australia

Corporate governance principles and gender equality across Europe and Asia: Convergence and Diffusion

4th European Conference on Politics and Gender

(ECPG)

11-13 June 2015, Uppsala, Sweden

Aim: To critically engage with the concepts of gender balanced representation on corporate boards; gender equality and quotas.

Compare and contrast the application of such concepts within the EU legal framework and Asian countries, particularly Malaysia and India.

This provides an opportunity to contribute to the theory of diffusion and legal transplant.

Also, to consider and contrast the concept gender equality across Europe and Asia.

OVERVIEW

Google Image search for CEO has Barbie as first female result

Under-representation of women in positions of power is a world-wide phenomenon.

The Financial crisis precipitated the debate about the under-representation of women in corporate boards.

Scholars in the area draw a linkage between gender quotas in politics and in corporate boards.

Political quotas are understood today as substantive equality measures.

Corporate quota

Business case arguments

Equity based arguments

Democratic legitimacy based arguments

BASIS FOR CORPORATE QUOTAS

Normative transplants and/or diffusion of laws? Norway ⇨ Europe ⇨ EU ⇨ Asia Norway – Public Limited Companies Act (2003

amendment): 40% of each gender. Europe - Austria, Belgium, Denmark, Finland, France,

Iceland, Ireland, Israel, Italy, Norway, Spain, Switzerland, Germany and the Netherlands.

EU proposed directive (2012) – transparent recruitment procedures – goal of 40% women NEDs. Listed companies – training and mentoring

Norwegian model resulted in positive outcomes. EU –financial crisis and gender equality

efforts[economic problem, social dimension].

SPREAD OF GENDER QUOTAS

Malaysia (2011/12) and India (2013/14) – low representation of women. (7.8%, 4.7%).

Malaysian Code of Corporate Governance – Companies listed on Bursa Malaysia

steps to ensure women candidates sought, disclosure of gender diversity policies and targets and measures to meet them.

Comply or explain. Focus on both gender equality and business case. Training programs and databases.

SPREAD OF GENDER QUOTAS: Malaysia

India – Companies Act 2013 – monetary penalty - € 600- 6000.

Appointment of one woman director by Oct, 2014. (Listing agreement).

No guidelines. Worry about appointment of female family members.

‘To encourage women’s participation in decision making at every level.’ Business case emphasised by media reports.

Training programs only as private initiatives. Diffusion of what developed as an EU concept into

Asia. Market facilitation to an extent.

SPREAD OF GENDER QUOTAS: India

Diffusion of EU values? EU: Corporate gender quotas as part of the

larger gender equality project. Issues of maternity and child care relevant

in preventing the leaking pipeline to decision-making positions.

Asian cultures – child care and elder care. Transition in emerging economies – more

women entering work force – women on boards would facilitate this.

GENDER EQUALITY ACROSS EUROPE AND ASIA