Women in top management positions make for healthier and wealthier company, according to new study, at the University of Michigan Business School.
It studied management teams of both large and small companies in variety of industries from 1993 through 1999, and found that for rapidly growing IPO companies, the initial share price, share price growth, and growth in earnings over three years were higher with women executives.
In the study – which analysed over 1400 companies – upper management teams were defined by executives listed on the company’s pre-IPO prospectus, including, for example, CEO, CFO, COO, and vice presidents of marketing, sales, finance, and human resources.
So they asked, is it the crucial X chromosome that determines the success of company?
The bottom line – they don’t think it’s women per se that had the positive influence, more the diversity of the management team. After all, having range of different ideas and perspectives on management teams leads to better business decisions.
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