The participation of women on company boards

an analysis corporate governance from a sectorial perspective

Autores/as

DOI:

https://doi.org/10.12662/2359-618xregea.v14i3.p65-80.2025

Palabras clave:

gender diversity, board of directors, sectoral analysis

Resumen

Many countries have implemented public policies to increase female representation on company boards, as economic literature highlights the positive externalities of gender diversity in these bodies. In Brazil, there is no current legislation, and the corporate sector remains predominantly male at the top level. This study aims to analyze the distribution of women on boards by sector and the evolution of female participation among companies listed on B3 from 2010 to 2016. Descriptive analysis was conducted on data from 243 companies (1,922 observations) collected from B3 and CVM to statistically explain the sectoral inclusion of women. Results indicate a gradual increase in female board members, reaching 10.85% by the end of the series, though still far from the 26% average in OECD countries. The "Several" sector (including Chemicals and Educational Services) had the highest female participation at 23.33%, while the Oil, Gas, and Biofuels sector had the lowest at 6.10%. This study aims to build a sectoral panorama of women's distribution on boards and enhance understanding of the need to increase gender diversity in these strategic bodies.

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Biografía del autor/a

Hedmus Romenig Reis de Castro, Universidade Federal de Ouro Preto

Graduado em Ciências Econômicas pela Universidade Federal de Ouro Preto e Mestre em Economia pelo Instituto Brasileiro de Ensino Desenvolvimento e Pesquisa (IDP-São Paulo). Ouro Preto - MG - BR.

Stefan Wilson D'Amato, Economista-chefe da Fecomércio-MG

Doutor em Economia Aplicada pelo CEDEPLAR/UFMG. Mestre em Economia pelo Departamento de Economia (DEE) da UFV (Universidade Federal de Viçosa). Possui Graduação em Ciências Econômicas pela Universidade Federal de Ouro Preto (UFOP). Economista-chefe da Fecomércio-MG. Belo Horizonte - MG - BR.

Thiago de Sousa Barros, Universidade Federal de Ouro Preto

Professor Adjunto e Pesquisador do Departamento de Economia da Universidade Federal de Ouro Preto. Pós-Doutor pela Universitat de València. Doutor em Administração de Empresas pela Fundação Getulio Vargas (FGV-EAESP). Ouro Preto - MG - BR.

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Publicado

2025-10-06

Cómo citar

CASTRO, Hedmus Romenig Reis de; D’AMATO, Stefan Wilson; BARROS, Thiago de Sousa. The participation of women on company boards: an analysis corporate governance from a sectorial perspective. Revista Gestão em Análise, Fortaleza, v. 14, n. 3, p. 65–80, 2025. DOI: 10.12662/2359-618xregea.v14i3.p65-80.2025. Disponível em: https://periodicos.unichristus.edu.br/gestao/article/view/5525. Acesso em: 8 oct. 2025.

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