ABSTRACT
During the last two decades, discussions about corporate governance in relation to gender diversity on boards have been central. Sweden is one of the most gender-equal countries in the world; despite this, women are still underrepresented on corporate boards. The purpose of this study was to examine the development of female representation on corporate boards between 2011–2015. The study highlights how the factors education, board size and ownership structure affected appointment of women to corporate boards. The sample consisted of 72 large-cap companies listed on the NASDAQ OMX. Data were retrieved from company annual reports. The findings from this study show that women were underrepresented on Swedish corporate boards, but there was a positive trend regarding females on boards during this five-year period. Factors such as board size, ownership structure and educational level affected the appointment of female board members. The analysis reveals that family firms were more likely to appoint females to their boards, and the majority of females appointed to boardroom positions had a higher education, especially in non-family firms. Furthermore, the data show that the larger the size of the board, the greater the number of female board members. By investigating and describing the development of female representation in corporate boards and highlighting factors that influence appointment of female board members, this study adds value and understanding to the ongoing discussion about gender diversity on Swedish corporate boards and the development of a greater female presence in Swedish boardrooms.
