Literature Review Women on boards and in TMTS and firm performance 69 Due to the filter function only 53 out of 93 respon dents were asked the question on concrete inves tors demands with regard to diversity They had stated earlier to discuss the topic at least seldom with shareholders 40 usable answers are available for analysis Table 3 4 lists the investors concrete demands or information requests Table 3 4 Inquiries of investors with regard to diversity MentionsInquiries 16 4 2 2 1 No concrete demands but information requests about women s ratio on corporate boards and in leadership about corporate governance experience and qualification of all board members independence of supervisory board members about diversity of staff in all its dimensions about share of disabled employees 25 10 8 5 4 4 2 Concrete demands for setting specific targets and formulating appropriate strategies for increasing the share of women on corporate boards and in management positions including concrete measures for reliable key figures as basis for measurability comparability evaluation for enhanced transparency with respect to targets measures and justification in case of non achievement for fulfillment of current and future regulatory requirements for increasing diversity on corporate boards and in management positions multiple answers allowed Concrete demands of investors support Hockerts Moir s 2004 and Fieseler s 2011 assessment of capital market participants apparently predomi nantly specialized investors expectations regar ding IR messages Investors calls for specific di versity targets and strategies as well as for reliable key figures for measurability and evaluation sug gest that the proposed IR communication strategy focusing on long term prospects and shareholder value creation potential of diversity policies is justified After all a third of respondents expects that the topic of diversity will increase in importance in the future Figure 3 5 illustrates the distribution in detail Figure 3 5 Expectation regarding future rising import ance of diversity topic of diversity will increase in importance topic of diversity will not increase in importance I do not know 49 10 34 Gender diversity on corporate boards and in TMTs in practice

Vorschau DIRK-Forschungsreihe Band 21 Workforce diversity and personal policies Seite 69
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