Women on boards of directors in Latin America: building a model

Abstract

Purpose Through an analysis of 15 Latin American countries, the purpose of this paper is to explore the importance of several institutional variables (economic, regulatory, and cultural), which affect women’s careers towards being members of boards of directors in the region. Design/methodology/approach Based on primary and secondary information, the authors carry out multivariate analyses to understand the institutional reasons affecting the reduced presence of women on boards of directors in the region. Findings Their findings reveal differences within the region, the importance of protecting women’s professional careers in the labour market, and the effect of cultural dimensions, such as masculinity and power distance. Research limitations and implications The analysis provides an updated cross-section of the institutional and cultural conditions of the 15 countries, considering the limitations to developing data in the region. Practical implications Latin America has witnessed important changes in the dynamics of the labour market over recent decades: women’s participation in the labour force is on the increase, and corporate strategy is evolving towards the incorporation of practices and initiatives to manage the diversity of their talents. However, the presence of women in leadership positions is a pending subject. This study, in part, reveals the institutional origin of gender inequality on boards of directors in the region. The analysis provides essential tools for public policy and for companies to help promote female leadership in the region. Originality/value Recent debate and research on the scarce participation of women on corporative boards of directors have revealed a growing interest in analysing the causes of such issues despite the progress recorded in terms of gender equity in most societies. Studies on the topic in Latin America are scarce and the aim of this paper is to help to fill part of this gap.

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