Влияние гендерного фактора в управлении на результаты деятельности компании / Impact of the gender factor in company management on the results of its activities
Аннотация
The primary aim of this paper is to establish a relationship between gender factor in international companies management and their financial results. Despite the fact that the subject of gender diversity has been fairly well studied and described in the past, there are very little or almost no evidence of real practical effect of gender factor in management on the financial performance of the companies. Especially, when it comes to largest international companies with headquarters in Russia.
Aims of this work are:
- Analysis of the benefits and limitations of the gender factor in management of international companies;
- Creation of corresponding assumptions;
- Building of econometric model to control for gender factor attributes with respect to financial performance of the company;
- Identification of gender factor in management effect on economic results of the company;
The object of this research is the net-profit of a company. The subject of research is the impact of gender factor on the financial performance of international companies. Methodological basis for this work is theoretical & statistical analysis and econometric model estimation using panel data. The information base are financial and annual reports of 20 Russian international open joint-stock companies included in top-200 Forbes.
As a result of research, the following information were obtained. The results from the statistical analysis have shown that nowadays, women are widely involved in the management of companies – only for four years (from 2017 to 2021) their overall presence number as the member of boards of directors increased nearly by nine times. However, the existing studies can not give us a solid ground to say that their number somehow affects the financial results of companies one way or another. In econometric model, I tested variables such as: number of men on Board of Directors (further BD); number of women on BD; percentage of men on BD; number of employees; sales revenue; sales revenue per employee. Variables that are responsible for the gender composition of the BD of companies, such as the number of men on the BD, the number of women on the BD, the percentage of men on the BD, based on all tests, were not significant, i.e. they do not affect the financial results of the company. Variables such as the number of employees and sales revenue per employee were significant for net profit of a company.
Aims of this work are:
- Analysis of the benefits and limitations of the gender factor in management of international companies;
- Creation of corresponding assumptions;
- Building of econometric model to control for gender factor attributes with respect to financial performance of the company;
- Identification of gender factor in management effect on economic results of the company;
The object of this research is the net-profit of a company. The subject of research is the impact of gender factor on the financial performance of international companies. Methodological basis for this work is theoretical & statistical analysis and econometric model estimation using panel data. The information base are financial and annual reports of 20 Russian international open joint-stock companies included in top-200 Forbes.
As a result of research, the following information were obtained. The results from the statistical analysis have shown that nowadays, women are widely involved in the management of companies – only for four years (from 2017 to 2021) their overall presence number as the member of boards of directors increased nearly by nine times. However, the existing studies can not give us a solid ground to say that their number somehow affects the financial results of companies one way or another. In econometric model, I tested variables such as: number of men on Board of Directors (further BD); number of women on BD; percentage of men on BD; number of employees; sales revenue; sales revenue per employee. Variables that are responsible for the gender composition of the BD of companies, such as the number of men on the BD, the number of women on the BD, the percentage of men on the BD, based on all tests, were not significant, i.e. they do not affect the financial results of the company. Variables such as the number of employees and sales revenue per employee were significant for net profit of a company.