Douglas Branson is a professor of law at the University of Pittsburgh and a specialist in corporate governance. His most recent book, "No Seat at the Table: How Corporate Governance and Law Keep Women Out of the Boardroom," was published in December by NYU Press.
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| Pam Panchak, Post-Gazette Douglas Branson, a law professor at the University of Pittsburgh, is the author of a new book, "No Seat at the Table: How Corporate Governance and Law Keep Women Out of the Boardroom." Click photo for larger image.
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A: In 1998 or 1999, a number of experts in the field were saying there was a global convergence of following American models for corporate boards. I said, that's ridiculous. Culturally, the U.S. model doesn't fit. There's been a lack of progress of women [gaining board seats] despite women being in the work force for 30 years or 35 years.
Q: How many women sit on major corporate boards?
A: Slightly over 550. [That's according to 2005 proxy data made available in 2006.] Catalyst (a New York City-based organization that tracks women in business) says 15 percent of directors at Fortune 500 firms are women.
But those numbers are inflated. [My research] found 15 percent of all directorships are held by women -- meaning some women are chosen over and over and sit on multiple boards. They're known as "trophy directors." The actual number of women who are directors is only 10 percent. Roughly 52 percent of large, public companies have no women directors or one director, and you can presume that single woman in a token.
Q: Why are they still so under-represented?
A: Law school classes are now comprised of about 50 percent women and business school classes are 35 or 36 percent. So women have the right credentials. But the numbers lag way behind the expectations. [Some of the reasons] include male biases against time off for child bearing and time off for child rearing.
For example, we are one of the very few industrialized nations on earth which does not calculate the economic contribution child rearing makes to the gross domestic product. Any time beyond a standard maternity leave for one child -- such as longer maternity leave or taking time off for a second child -- results in less pay at age 40 for women. [They will earn] 60 percent of what the comparable male makes.
The majority of women who make it to the very top, such as Andrea Jung (chief executive of Avon Products) or Carleton Fiorina (former chief executive of Hewlett-Packard), have only one child or no children.
Q: You devote a couple of chapters in the book to how linguistics and behavioral psychology can be used to analyze why women aren't moving ahead at a faster rate. Can you explain?
A: Misinterpretations of differences in male and female speech and mannerisms can cause men to interpret certain female behaviors as emotional and lead to stereotypes that women are too volatile to be CEOs or directors. These stereotypes persist ... and the result is exclusion of an unknown number of women from the pool of director candidates.
The opposite of the overly emotional stereotype is the "iron maiden." That is the stereotypical description of the sole female in a work center or group who resists role encapsulation (to be one of the boys or the mascot or the clown). She adopts an impenetrable, somewhat stern exterior, which masks her real attitudes. In turn, males ascribe to her an outlook more militant and aggressive than really is the case.
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Douglas Branson
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Another stereotype is the "bully broad" -- the type A personality who wins the first and second promotion, often well ahead of schedule. She never realizes that, at about that point in her career, she must shift gears, becoming more cooperative, more strategic. As a result, her career gets sidetracked or altogether delayed.
Q: How can corporate America change the situation?
A: If I had the answer to that, I would get the Nobel Prize. For starters, the majority of corporations have to put women on their nominating committees to push for more women directors and the elimination of trophy directors.
And companies have to bend over backward to treat all employees -- gay, lesbian, African-American and other minorities -- equally.
If you work part time, you should get part-time benefits instead of not any benefits.
Corporations have to be more tolerant of child-bearing and child-rearing. There's too much emphasis on turbo-capitalism: 24/7 availability, five to six days a week of face time, traveling for work on short or no notice. That does not fit with child-rearing.
Corporate America is not evil; it's just very short-sighted.
Q: What does it take to become a corporate director if you are female?
A: Women have to follow pathways different than men in order to reach the boardroom or the CEO suite. I found with the near majority of women, they sidestepped onto corporate boards from positions in academia, not-for-profits or government. They're not working their way up from within corporations. So the best chance you have to get on boards is to get a doctorate or a law degree.
I found that a lot of the "advice" books are wrong. There's not one model to get to the top. They urge you to be aggressive, to watch "Monday Night Football." That's not true at all. Being aggressive will serve you well at the entry level and the first couple of promotions. Then you have to be more diplomatic.
Q: Are any companies doing it right in terms of promoting women and giving more board spots to women?
A: At companies with women chief executives at the top, there is a trickle-down effect. A couple are Avon Products and Golden West Financial (Marion O. Sandler was co-chair and co-chief executive before it was acquired by Wachovia Corp. in 2006).
Locally, PNC Financial Services Corp. has three female directors, and H.J. Heinz Co. has two. Most other Pittsburgh corporations have a single female director, so they're open to the charge of tokenism.