Literature Review Women on boards and in TMTS and firm performance 71 The item other factors is supplemented by free text answers in five cases Three respondents state that the issue of sustainability in the bro adest sense was currently gaining momentum When journalists and politics focused on the topic stock listed companies could not evade it Another company in the sample implemented a program of measures for sustainability that led to the develop ment of diversity promotion programs Diversity promotion programs were further developed as a response to a poor external rating or at the request of employees following an opinion survey A fifth of respondents concretizes the company s internal economic motifs by indicating the objective to re tain well trained specialists within the work pro cess and the company Consistent with the low percentage of firms that indicate economic motifs for the development of diversity programs and further supporting my hypothesis that firms generally do not employ an economic perspective on diversity the number of companies that conducted a cost benefit assess ment for such initiatives is extremely small No more than two respondents state that their com pany has appraised the benefits of diversity pro grams in relation to their costs in one case with a positive result that is benefits exceed costs More than half of the companies has not performed such an analysis around 40 percent of the respondents are unable to provide these data 3 5 4 Other external stakeholders driving diver sity promotion Questioned in the form of an open question al lowing for multiple answers on the influence of external stakeholders other than investors 37 6 percent name politics regulators above all po liticians or the German Corporate Governance Code respectively This result verifies my hypothe sis that external regulatory requirements gave cau se to develop and implement diversity initiatives within organizations The fact that regulators and politics are the most important driving force for corporate diversity promotion programs meets my expectation 29 0 percent name interest groups and women s associations more precisely the German Women s Lawyer Association 7 5 percent and Women on Supervisory Boards FidAR 3 2 percent 19 4 percent assign a vital role to the media or critical journalists Non governmental organizations NGOs among them RespACT UN Global Compact or BioDiversity are cited being important external stakeholders by 6 5 percent followed by the public society associ ations of shareholders consultants on share voting rights and employees 5 4 percent each Rating agencies with a focus on sustainability such as imug or similarly specialized research analysts are mentioned repeatedly Customers in some cases also address this issue The frequency of responses by stakeholder group is shown in figure 3 7 Gender diversity on corporate boards and in TMTs in practice

Vorschau DIRK-Forschungsreihe Band 21 Workforce diversity and personal policies Seite 71
Hinweis: Dies ist eine maschinenlesbare No-Flash Ansicht.
Klicken Sie hier um zur Online-Version zu gelangen.