A recent study has found that companies with 30 percent female executives bring in six percent more in profits, Reuters reported.
The study, conducted by researchers at The Peterson Institute for International Economics in Washington, DC, is based on responses from about 22,000 publicly traded companies in 91 countries.
The results indicate that having women in decision-making roles in corporate leadership boots a company's performance, suggesting a windfall for policies that facilitate women climbing the corporate ladder.
"If you're a firm and you're discriminating against potential female leaders, that means you're essentially doing a bad job of picking the best leader for your firm," Tyler Moran, one of the study's three co-authors, told Reuters.
The study also found that while having female presence in executive positions resulted in higher profits, having women as CEOs or board members did not have a significant bottom line impact.
"This research sheds light on the importance of establishing modern workplace benefits, providing equitable sponsorship opportunities, and creating inclusive work environments, so that both men and women can have equal access to leadership positions," said Karyn Twaronite of the professional services company EY, which helped fund the study.
Still, much needs to be done, as the study found that about 30 percent of companies worldwide have no women executives or board members.
