GREENSBORO, N.C., May 3, 2011 /PRNewswire/ -- "With all of the talk about regulating the financial services industry, one must ask the question whether or not certain financial shenanigans would be eliminated if there were more women serving on corporate boards and on corporate finance committees," said Sherri Brown, managing partner of Cali Pearl Corp. (http://www.calipearl.com), a North Carolina-registered investment advisor.
Brown's statement comes at a time when countries across the globe are contemplating the benefits of women in the boardroom. According to an April 2011 report by National Public Radio, "A Push for More Women on Corporate Boards," the average percentage of female corporate board directors in industrialized countries is only 10 to 12 percent. The news report mentioned findings from the Deloitte Global Center for Corporate Governance indicating that the percentage increased very slightly within the United States. Women were found to comprise "15.2 percent of Fortune 500 company boards" and a sample survey of 1,754 listed companies revealed that only 12.2 percent of the board directors were women.
"Women are grossly underrepresented in the upper echelons of corporate America," stated Brown. She believes that corporations should have a better balance of both men and women serving on corporate boards. "Women are seen as more cautious and are a little more well-versed in due diligence, bringing an alternative perspective to the typical gung-ho male attitude."
She continued, "There's nothing wrong with being aggressive. If we asked investors how they would like to have their investments treated, of course everyone wants the euphoria of making money using aggressive investment strategies in the stock market. However, no one wants to experience the downside of losing it all. Women tend to balance the equation with a natural prudence that makes them excellent candidates for taking on more corporate board positions and steering companies to a competitive but fiscally stable and socially responsible path."
Research supports Brown's position. In an article at ceoforum.com.au, global executive search firm Egon Zehnder International stated that studies show that boards with more women review "customer satisfaction, employee satisfaction, gender representation in management, improved community relations, innovation and connection to a wider customer base" on a more regular basis. Additionally, the firm cited a 2001 survey within the United States that revealed "Fortune 500 firms with the best record of promoting women to senior positions, including the board, are more profitable than their peers."
"While some corporate cultures are mired in an outdated old boys' network, different industry giants like General Motors, Orbitz Worldwide, Dow Chemical and Smithfield Foods have women on their boards," said Brown. "It's a competitive advantage. Women should embrace the opportunities to serve on corporate boards and not shy away from the 'math' involved in making major decisions."
SOURCE The Cali Pearl Corporation