A Typology of Legal, Regulatory and Voluntary Initiatives to Address Gender Balance on Corporate Boards

Abstract

The slow pace of global progress in improving gender balance on corporate boards cannot be attributed to a lack of policy initiatives: a considerable variety of legal, regulatory and voluntary efforts have been implemented across multiple jurisdictions. However, the lack of an agreed means of categorising such initiatives has made it difficult to effectively compare their relative merits. Inconsistent terminology when reporting and analysing policy interventions is not only confusing, it can hamper identification of which aspect or aspects of a policy intervention are advancing (or failing to advance) the desired goal. This paper addresses this gap by proposing a typology based on four factors: Source, Approach, Enforcement and Legal Basis. Based on an extensive review of initiatives in numerous countries we have identified eight common categories that reflect particular combinations of these four factors, namely Quotas, Equality Policies, Targets, Measurements, Governance, Suggestions, Aspirations and Corporate Social Responsibility initiatives.

Keywords: Women on Corporate Boards, Gender issues, Corporate Governance