A survey of 22,000 companies operating across 91 countries has found that locations with the highest proportion of female leaders also happened to boast the highest rates of profitability.
Research conducted by consulting firm EY and the Peterson Institute for International Economics over the past year found that companies with at least 30 per cent female leaders could generally count on profits six per cent higher than those with no female bosses.
Report co-author Marcus Noland, executive vice president and director of studies at the Peterson Institute, told the Huffington Post: “The more women in the c-suite the more profitable the firm is.”
Noland is keen to stress that the results show only a correlation but is keen to follow through with a more wide-ranging study to determine which policies are most successful at pushing women to the top.
The study also equated the highest percentage of women in leadership with the top nations for offering paid maternity leave to fathers. These included Italy and France which offered 26 weeks and Norway where fathers benefit from 14 weeks off.