ASEAN Companies With More Women on Boards Deliver Better Results

Corporate Governance

ASEAN Companies With More Women on Boards Deliver Better Results

  • ASEAN Companies With More Women on Boards Deliver Better Results According to IFC study of 6 ASEAN countries, boards with at least 30% women report a 1.4% higher return on assets
  • Date: Jul 26, 2019
  • Category: Corporate Governance
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About the Report:

Boards with at least 30% women also report a 1.4% higher return on assets, according to a report by the International Finance Corporation (IFC) which analysed more than 1,000 companies in 6 countries in ASEAN (Indonesia, Malaysia, Philippines, Singapore, Thailand and Vietnam).

It also found that 2 out of 5 ASEAN companies had no female board members. Thailand is the most gender-diverse, with women holding about 20% of board seats among the listed companies, followed by Indonesia and Vietnam, both at 15%. Malaysia performed below the ASEAN average of 14.9%, at 13.5%.

The report found that in Malaysia, regulators had the strongest push for board diversity in ASEAN, having established an ambitious gender target of 30% female board representation to be achieved by 2020. Malaysia is also one of only two places in Asia (alongside Hong Kong) where the 30% Club operates - an international campaign of board chairs and business leaders that promotes a voluntary target of 30% female board representation.

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International Finance Corporation (IFC)

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