Companies With Women On Their Boards Are 28 Times More Philanthropic
1:15 pm, November 18th | by Hillary Reinsberg
We could ramble on endlessly about the reasons it’s good to have some ladies on the board of your company. Researchers have yet another reason: companies with women on their boards are way, way more charitable.
According to a study from Catalyst and Harvard researchers, companies with three or more women directors on their boards gave an average of $27.1 million to philanthropic efforts, while companies with no women on their boards gave $969,000. So yes, companies with women helping to make the calls are giving nearly 28 times as much to charity.
And the more women, the better. For every extra female board director, companies gave about $2.3 million extra to charity.
You might argue that already philanthropic companies are the ones that attract women. But the researchers don’t think so. Instead, they think it’s the women who have the influence.
We know, a company’s philanthropic initiatives don’t necessarily make that company a great company. But it does make companies look better — and it helps the economy! And it’s almost holiday season, which means there’s no talking smack about giving to charity.
[via CBS News]