Ireland fifth in the world for 'female economic power'
Published 10/04/2015 | 02:30
Ireland ranks fifth in the world - ahead of the US and UK - in a landmark study on 'female economic power'.
Conducted by the University of Cambridge Judge Business School in the UK, the research is the first to take a world view on the factors limiting and driving women's rise to the top and longevity in boardrooms.
'Female economic power' measured factors including the number of years a woman can expect to be in education and the percentage of women in the workforce.
The research, carried out between 2004 and 2013, looked at over 1,000 companies across 41 countries and was commissioned by the UK company Newton Asset Management and US firm BNY Mellon.
Australia topped the chart, while Norway, Denmark and Finland rounded out the top five. Qatar, the United Arab Emirates and India fared worst.
Sucheta Nadkarni, professor at Cambridge University's Judge Business School and report lead author, said female economic power boosted the number of women on boards and length of their tenure. "If markets become more gender inclusive, that is the incentive for boards to become more gender inclusive," she said.
The study comes shortly after the official launch of the Irish chapter of the 30pc Club at the start of the year.
The global organisation aims to bring the proportion of female directors on Irish boards and at executive management level up to 30pc by 2020.
Speaking to the Irish Independent Carol Andrews, one of the founding members of the Ireland Chapter of the 30pc Club and a managing director of BNY Mellon, said: "We are delighted to note that Ireland is doing so well."
She added that the 30pc Club is committed to improving on Ireland's performance and "really focus on taking women from the schoolroom to the boardroom and hitting the 30pc target."