Literature Review Women on boards and in TMTS and firm performance 15 figures are most likely to convince In brief the business case for increased gender diversity in top management and on corporate boards should pro vide support for a positive effect on firm perfor mance and shareholder wealth Therefore the key question of the present literature review is Does previous research provide empirical evidence for economic benefits of increased female repre sentation in top management positions Several literature reviews and meta analyses deal with various effects of workforce diversity on teams and organizations Among the well known surveys are those by Milliken and Martens 1996 Williams and O Reilly 1998 and Jackson Joshi and Erhardt 2003 A recent broad overview of the literature on diversity is provided by Pitts and Wise 2010 Fields and Keys 2003 survey papers examining the effect of board diversity on firm per formance or shareholder wealth and De Abreu Dos Reis Sastre Castillo and Roig Dobón 2007 provide an overview on 50 years of research in the field of diversity and business performance The surveys yield ambiguous results suggesting that the relati onship between diversity and performance is not simple and direct but rather moderated by a series of variables thus context sensitive Meta analyses examine differences between ho mogeneous and heterogeneous teams with re gard to the impact on performance by evaluation of 13 studies Bowers Pharmer Salas 2000 or the impact of highly and less job related diversity on group cohesion and performance by analyzing 24 studies Webber Donahue 2001 Other me ta analyses explore the role of contextual influen ces Joshi and Roh 2009 for instance investigate 39 studies to show whether contextual factors in fluence performance outcomes of relations orien ted and task oriented diversity Stahl Maznevski Voigt and Jonsen 2010 examine the role of task complexity and structural aspects of the team as moderators of the effects of cultural diversity on teams on the basis of 108 studies None of the first three meta analyses finds a positive and significant relationship between diversity and performance The results of the fourth meta analysis are ambi guous as they suggest that cultural diversity leads to process losses caused by conflict and decrea sed social integration as well as process gains in the form of creativity and satisfaction Stahl et al 2010 Only few literature reviews explicitly consider the relationship of gender diversity in upper echelons and firm performance or firm value Terjesen Sealy and Singh 2009 present the first comprehensi ve review of how gender diversity on corporate boards influences corporate governance outcomes that in turn impact performance by incorporating research from more than 400 publications Their findings indicate that gender diversity on corpo rate boards contributes to corporate governance and firm level outcomes as well as to firm value Mohan 2014 focuses on three areas of research and provides a review of the gender effect on pay corporate performance and entry into top manage ment She surveys several studies on the short term and long term performance of companies led by women Due to ambiguous results the question if a potential gender behavioral difference affects firm performance remains unsolved A comprehensive review of literature on female representation on corporate boards or in top ma nagement teams and firm performance is presen ted by Kroell Szlusnus Hüttermann and Boerner 2014 who survey 26 primary studies They con clude that relevant research does not allow the as sumption that gender diversity is generally econo Women on boards and in TMTs and firm performance

Vorschau DIRK-Forschungsreihe Band 21 Workforce diversity and personal policies Seite 15
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