Women on Corporate Boards of Directors: Understanding the Context

Abstract

This chapter outlines the evolution of my thinking and research journey regarding women serving on corporate boards of directors. It addresses the following topics: • Board composition • Board responsibilities • Board and board member effectiveness • Evaluating boards and board members • Women on corporate boards research • Board composition and board effectiveness • The broader board context • Future research needs 1. Board Composition Through the 1 970s, boards of directors were almost exclusively composed of white males. Although a few token women were appointed, boards were singularly homogenous consisting of white male CEOs over 55 years of age (see Lorsch & MacIver, 1989). Most US Fortune 500 companies now have female directors but it is rare to have more than one. Thus, despite the fact that women have been moving into management over the past few years, their representation on corporate boards of directors still remains low. In Fortune 500 companies, women hold about ten percent of seats (Catalyst 1995, 1997).