Mumbai: In compliance with the SEBI directive NSE has issued notices to 260 companies (this includes suspended companies) who have not complied so far. With some companies replying, rest are at various stages of evaluation.India’s leading bourse National Stock Exchange of India (NSE) has taken up the issue of gender diversity in boards with listed companies. The exchange has conducted a study of listed companies recently.
Close to 88% of the companies seem to have complied with the SEBI directive among the NSE listed companies. Very interestingly studies have shown that companies with multiple woman directors have performed better. The study was undertaken in association with Prof N Balasubramanian, Adjunct Professor, IIM – Ahmedabad. The study has revealed that 1186 companies have women directors on board out of 1451 as on 1 April 2015.
Covered companies are those which were mandated to have women directors and for which women directors’ data is available. Generally, there is a business case for gender diversity. It can have few key dimensions, like, increasing board effectiveness, augmenting company performances etc among others. It is revealed that regulatory mandates accompanied by awareness programs help achieving a better ratio. The study has also revealed that Norway has made the best progress. Among the BRICS nations, South Africa leads the group with 17.6%, while Brazil is lagging at 5.3% and India is placed with 9.5% women director.