New research from the Peterson Institute for International Economics and accounting firm EY finds a correlation between a company’s profitability and the number of women in top management positions.

The study, which looked at nearly 22,000 publicly traded companies in 91 countries, found that having women in corporate leadership positions correlates with a better bottom line.

Business-Strategy-Woman_031716The research found no evidence that, by itself, having a female CEO is related to increased profitability, but there is some evidence that having women on a board may help—and robust evidence that having women in the C-level (as in CEO, CFO and COO of management) is associated with higher profitability.

In fact, a profitable company with 30% women in top management can expect a net profit 15% higher than a similar company with no women executives.

“The impact of having more women in senior leadership on net margin, when a third of companies studied do not [have any women in top positions], begs the question of what the global economic impact would be if more women rose in the ranks,” says Stephen R. Howe, Jr., EY’s U.S. Chairman and Americas Managing Partner

“The research demonstrates that while increasing the number of women directors and CEOs is important, growing the percentage of female leaders in the C-suite would likely benefit the bottom line even more.”

When Women Lead

Learn more about the role and benefits of women in leadership positions at CBIA’s June 8 women in business leadership conference.

Meet women entrepreneurs and senior executives in diverse industries and roles, including those related to yours, and hear their unique stories.

The lineup features leaders in healthcare, pharmaceuticals, insurance, law, manufacturing, shipping, municipal government, consultancies, and nonprofits.

Panel discussions and keynotes will explore:

  • Barriers for women in business. What are they, and how can you, your company, and your industry overcome them?
  • Female perspective. What are the distinct qualities and experiences that women bring to a business, and how do they set women apart as leaders? In short, what’s different when women lead, and what’s different when they are women of color
  • Lonely at the top? Despite the quickly growing number of female executives and business owners, finding fellow women entrepreneurs to connect with can be a challenge. “There just aren’t enough of us,” says Rivet & Sway CEO Sarah Bryar. “There aren’t enough women to be role models, act as sounding boards, do deals with—in short, to create normalcy for women in leadership positions.” How do women work within systems where they are not adequately represented? How do they change those systems?
  • Equal financial footing. Research shows that venture capitalists typically invest in startups run by people of their own tribe and that startups run by women, as a result, get significantly less funding. Where are the success stories, and how do we replicate them?
  • Emerging leaders. Meet three dynamic women forging a path to leadership at a young age. Hear what it takes to emerge from the pack.
  • Midcareer shift. A top official with insurance giant The Phoenix Companies recently accepted a position as chief operating officer for the city of Hartford. Learn about her decision to transition from a Fortune 500 company to an administrative role with the city she calls home.

Learn more about CBIA' s June 8 When Women Lead conference.