In praise of Women in Business
According to the World Economic Forum’s 2008 Global Gender Gap Report, Ukraine is ranked 27th out of 130 countries in terms of ‘Gender Participation and Opportunity’, an indicator which reflects women’s position in the labor market. While this indicates there is still room for improvement, it does show the Ukrainian labor market is quite gender-balanced.
To many managers inUkraine Ukraine
In fact, there is quite some academic literature that confirms the benefits of women at work.
Studies have identified several reasons why bosses should appreciate female employees. Performance, for example, can be influenced by gender: a recent study by three professors of Goizueta Business School (Emory) finds that female analysts, while covering less stocks and being less accurate in their forecasts, are more likely to be chosen as ‘All Stars’ in surveys done by investor magazines which, according to the authors ‘suggests that [female analysts] outperform at other aspects of the job such as client service.’ This is consistent, with the findings of a study by Harvard professor Boris Groysberg who finds that female star analysts who move to another firm continue to perform well while male star analysts who move tend to lose their star performance after a move to a new company. According to Prof Groysberg women build their success on portable, external relationships (with clients and other outside contacts) and do more due diligence when considering a job offer, leading to a better match between employer and employee.
Having women in top positions also has its advantages - one study published in the ‘Women and Management Review’ found that both men and women can benefit from having female supervisors, both in terms of higher job satisfaction and in terms of improved health. Another study, based on interviews with female CEOs and directors, argues that having women as board members improves corporate governance because the presence of female board members will make board discussion more open, collaborative and inclusive, and because, if female board members are present ‘Difficult issues and problems are considerably less likely to be ignored or brushed aside, which results in better decision-making’. Some studies even have found a significant positive effect of the fraction of women on the board and firm value.
There is also some evidence that women are less corrupt – that they are less likely to bribe and that they are less likely to condone bribery. Hence, it is good for a country to have women in parliament and in senior position in government bureaucracy – countries that have this, indeed tend to be less corrupt.
And they make good bankers - in a recent article in the International Herald Tribune, Muhammad Yunus, Nobel Prize winner and founder of the Grameen bank, is quoted saying that the current crisis would almost certainly not have happened if women had shaped financial practices. Women’s greater risk averseness, which has been shown in several lab experiments, indeed makes them more careful decision makers. No surprise then that Iceland has appointed two women to rebuild its financial system.
To many managers in
In fact, there is quite some academic literature that confirms the benefits of women at work.
Studies have identified several reasons why bosses should appreciate female employees. Performance, for example, can be influenced by gender: a recent study by three professors of Goizueta Business School (Emory) finds that female analysts, while covering less stocks and being less accurate in their forecasts, are more likely to be chosen as ‘All Stars’ in surveys done by investor magazines which, according to the authors ‘suggests that [female analysts] outperform at other aspects of the job such as client service.’ This is consistent, with the findings of a study by Harvard professor Boris Groysberg who finds that female star analysts who move to another firm continue to perform well while male star analysts who move tend to lose their star performance after a move to a new company. According to Prof Groysberg women build their success on portable, external relationships (with clients and other outside contacts) and do more due diligence when considering a job offer, leading to a better match between employer and employee.
Having women in top positions also has its advantages - one study published in the ‘Women and Management Review’ found that both men and women can benefit from having female supervisors, both in terms of higher job satisfaction and in terms of improved health. Another study, based on interviews with female CEOs and directors, argues that having women as board members improves corporate governance because the presence of female board members will make board discussion more open, collaborative and inclusive, and because, if female board members are present ‘Difficult issues and problems are considerably less likely to be ignored or brushed aside, which results in better decision-making’. Some studies even have found a significant positive effect of the fraction of women on the board and firm value.
There is also some evidence that women are less corrupt – that they are less likely to bribe and that they are less likely to condone bribery. Hence, it is good for a country to have women in parliament and in senior position in government bureaucracy – countries that have this, indeed tend to be less corrupt.
And they make good bankers - in a recent article in the International Herald Tribune, Muhammad Yunus, Nobel Prize winner and founder of the Grameen bank, is quoted saying that the current crisis would almost certainly not have happened if women had shaped financial practices. Women’s greater risk averseness, which has been shown in several lab experiments, indeed makes them more careful decision makers. No surprise then that Iceland has appointed two women to rebuild its financial system.