The impact of soft law on social change: Measurable objectives for achieving gender diversity on board of directors

Klettner, AL; Clarke, T; Boersma, M

The impact of soft law on social change: Measurable objectives for achieving gender diversity on board of directors

Klettner, AL

Clarke, T

Boersma, M

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Publisher:: LexisNexis Butterworths
Publication Type:: Journal Article
Citation:: Australian Journal of Corporate Law, 2013, 28 pp. 148 - 176
Issue Date:: 2013-01

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Field	Value	Language
dc.contributor.author	Klettner, AL https://orcid.org/0000-0002-2838-9383	en_US
dc.contributor.author	Clarke, T https://orcid.org/0000-0002-9719-9647	en_US
dc.contributor.author	Boersma, M https://orcid.org/0000-0001-9789-1046	en_US
dc.date.issued	2013-01	en_US
dc.identifier.citation	Australian Journal of Corporate Law, 2013, 28 pp. 148 - 176	en_US
dc.identifier.issn	1037-4124	en_US
dc.identifier.uri	http://hdl.handle.net/10453/26976
dc.description.abstract	In 2010 the Australian Securities Exchange's Principles of Corporate Governance were amended to include three new recommendations dealing with gender diversity in listed corporations. The recommendations suggest that companies implement a diversity policy, set measurable objectives for achieving gender diversity and measure the number of women at various levels of the organisation. This article examines companies early response to the amendments. It presents an empirical analysis of the disclosures made by ASX 200 companies in their 2011 annual reports. The article builds on and develops research carried out by the authors for the 2012 Australian Census of Women in Leadership which found that, although the number of women on corporate boards had increased since 2010, there was not a similar increase in women in senior executive teams. It presents evidence that there are positive changes being implemented in the majority of ASX 200 companies that should, over time, make a difference to the ability of women to reach positions of leadership. The Australian approach of encouraging change through organisation-wide policy improvements and targets will hopefully improve female representation along the length of the pipeline to leadership and not only at the top. The ASX policy was formulated in the context of an international debate regarding the relative benefits of quotas and targets in achieving gender diversity on boards. In major European countries mandatory quotas were adopted, while in Australia and other countries voluntary targets set. Quotas secure substantial change through compliance, while targets may encourage change through strategic initiatives. This research examines early evidence of the impact of both hard and soft law on social change	en_US
dc.publisher	LexisNexis Butterworths	en_US
dc.relation.ispartof	Australian Journal of Corporate Law	en_US
dc.title	The impact of soft law on social change: Measurable objectives for achieving gender diversity on board of directors	en_US
dc.type	Journal Article
utslib.citation.volume	28	en_US
utslib.for	1503 Business and Management	en_US
utslib.for	1801 Law	en_US
utslib.for	1501 Accounting, Auditing and Accountability	en_US
pubs.embargo.period	Not known	en_US
pubs.organisational-group	/University of Technology Sydney
pubs.organisational-group	/University of Technology Sydney/Faculty of Business
pubs.organisational-group	/University of Technology Sydney/Faculty of Business/Management Discipline
utslib.copyright.status	closed_access
pubs.consider-herdc	true	en_US
pubs.volume	28	en_US

Abstract:

In 2010 the Australian Securities Exchange's Principles of Corporate Governance were amended to include three new recommendations dealing with gender diversity in listed corporations. The recommendations suggest that companies implement a diversity policy, set measurable objectives for achieving gender diversity and measure the number of women at various levels of the organisation. This article examines companies early response to the amendments. It presents an empirical analysis of the disclosures made by ASX 200 companies in their 2011 annual reports. The article builds on and develops research carried out by the authors for the 2012 Australian Census of Women in Leadership which found that, although the number of women on corporate boards had increased since 2010, there was not a similar increase in women in senior executive teams. It presents evidence that there are positive changes being implemented in the majority of ASX 200 companies that should, over time, make a difference to the ability of women to reach positions of leadership. The Australian approach of encouraging change through organisation-wide policy improvements and targets will hopefully improve female representation along the length of the pipeline to leadership and not only at the top. The ASX policy was formulated in the context of an international debate regarding the relative benefits of quotas and targets in achieving gender diversity on boards. In major European countries mandatory quotas were adopted, while in Australia and other countries voluntary targets set. Quotas secure substantial change through compliance, while targets may encourage change through strategic initiatives. This research examines early evidence of the impact of both hard and soft law on social change

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http://hdl.handle.net/10453/26976