09 March 2010

8/march was yesterday, but people still don't get what is women's day

My friend Jake sent us because it concerns the Norwegian reality:


Adding Female Directors Hurts Norwegian Firms' Value

Minus 18%. When Norwegian companies increased the proportion of women on their boards under a new diversity law, the firms' market value suffered, according to Amy Dittmar and Kenneth Ahern of the University of Michigan. If a firm achieved at least a 10% increase in the proportion of female directors, its Tobin's Q — the ratio of market cap to asset-replacement cost — dropped 18%. But gender wasn't the reason, the researchers contend; the decline was due to the new directors' young age and lack of high-level work experience.

Source: Stephen M. Ross School of Business at the University of Michigan

Talk about understanding the importance of gender equality and doing it wrong by enforcing laws and regulations that demand unqualified people to take the job of qualified ones. We have the recognize the value in every individual, not force an idiot policy of "let's be nice to these poor little girls". Putting women in the board room that shouldn't be there is also undervaluing them. I can almost hear the male board members telling sexist jokes about the women who were put in the board room for questionable reasons. Is this better? Really?

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