Feminized boards of directors in SMEs: effects on employees’ perceptions and firm performance

Abstract

Upper management positions seem to be male-dominated. Research has shown that a positive association exists between firm performance and the presence of women in boards of directors. This study aims to determine the relationship in Catalan SMEs and analyse employees’ perceptions on the judgement of their possibilities to move upwards in corporations with feminized and masculinized boards. The results indicate that Catalan SMEs with feminized boards show less potential of financial risk and more satisfied employees than firms with masculinized boards