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Gender equality implementation in corporate governance: the experience of Belarus

 

DOI: 10.34130/2070-4992-2020-2-100-109

УДК 658.14.011.1

Текст статьи 

Мазоль С. И. – к.э.н., доцент, Академия управления при Президенте Республики Беларусь, г. Минск, Республика Беларусь, e-mail: Этот адрес электронной почты защищён от спам-ботов. У вас должен быть включен JavaScript для просмотра.

Мазоль О. И. – научный сотрудник, Центр экономических исследований BEROC, г. Минск, Республика Беларусь, e-mail: Этот адрес электронной почты защищён от спам-ботов. У вас должен быть включен JavaScript для просмотра.

The article reveals the concept of responsible investment with an emphasis on one of its fundamental principles – the principle of gender equality. Approaches to assessing the impact of gender balance on the quality of management and efficiency of corporate governance in companies in both developed and developing countries, as well as on changes in the economic indicators of companies that fulfill or do not fulfill gender balance in corporate governance are presented. The analysis of the situation in the field of gender equality in corporate governance in the Republic of Belarus is carried out. The article presents the financial profile of the studied companies assesses the economic condition of companies in terms of return on assets and equity, as well as the coefficient of financial leverage. A correlation and regression analysis of the impact of gender balance on the financial indicators of the assessed companies was carried out within the sample. Despite the fact that there is no significant correlation between the gender balance indicator and the financial indicators, an increase in the influence of gender balance on financial indicators is revealed when women occupy important positions in the top management of companies in terms of influence on managerial decision-making. Measures aimed at ensuring gender balance in corporate governance, which are implemented by national governments together with market infrastructure institutions, are disclosed. In particular, it is noted that in order to encourage companies to maintain gender balance, developed countries introduce voluntary or mandatory standards, as well as take various measures aimed at meeting these requirements, including applying penalties to companies in case of non-compliance with legally established standards.

Keywords: сorporate governance, responsible investment, gender equality, market value, gender quota, financial sustainability

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For citation: Mazol S. I., Mazol O. I. Gender equality implementation in corporate governance: the experience of Belarus // Corporate Governance and Innovative Economic Development of the North: Bulletin of Research Center of Corporate Law, Management and Venture Investment of Syktyvkar State University. 2020. No. 2. P. 100–109. DOI: 10.34130/2070-4992-2020-2-100-109.