Abstract

This paper reports the first stage of our research agenda concerning the factors that influence the appointment of individuals to Canadian boards of directors. This particular study begins our examination of the role of women on boards. We focus on three interrelated aspects: the characteristics of the women who are appointed to boards, the characteristics of the firm that appoints a woman to an all-male board of directors, and the relationship, if any, between female directors and corporate social behaviour. The results of our study indicate that (1) women who are currently of the boards of publicly traded companies in Canada are independent and powerful directors, and (2) the firms that appoint a woman to an all-male board tend to be less socially responsible and have small boards of directors. The paper concludes with indications for where we think our research should now proceed.