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Entertainment Fewer women in Dax management

11:45  07 october  2020
11:45  07 october  2020 Source:   dw.com

Dax recovers a little from the previous day's loss

 Dax recovers a little from the previous day's loss © Fredrik von Erichsen / dpa The Dax is the most important stock index in Germany. The German stock market recovered somewhat on Tuesday from the losses it had suffered at the beginning of the week. The leading index Dax advanced by 0.83 percent to 12,646.52 points in early trading. The day before, the stock market barometer had slipped by more than 4 percent for fear of investors of a new wave of corona infections.

The 2010 Women Matter study provides a focused analysis on how to achieve gender diversity at top management level. Notes: Proprietary database: 441 companies from the local reference index: Norway (OBX – 25), Sweden (OMXS – 29), France (CAC 40), Germany ( DAX 29), Spain (IBX 35)

Women comprise about 47% of the U.S. workforce, yet they make up barely a quarter of all senior executives at large U.S. public companies. Even worse, only about 5% of Standard & Poor’s 500 companies have female CEOs.

The consequences of the pandemic on the economy are serious. It is often criticized that women are particularly suffering from the crisis. According to a recent study, they are on the decline even in German management.

Provided by Deutsche Welle © Imago Images / Westend61 / S. Brookland Provided by Deutsche Welle

, of all things, in the corona crisis, the proportion of female managers in Germany is falling. While in other western industrialized countries the trend is going in exactly the opposite direction, German corporations are restructuring their management floors so that even fewer women remain in management positions. That is the key message of a current study by the German-Swedish AllBright Foundation.

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 DAX clings to profits - In the middle of the week, the German benchmark index is clearly in the profit zone. © Provided by Finanz.net Andrew Burton / Getty Images The DAX showed a premium of 1.13 percent to 12,737.32 points at the start of the bell. The German benchmark index can expand its profits even further. In the meantime, he made the jump over the 12,800 point mark. It currently gains 1.35 percent to 12,764.67 units.

Top Advisor | SHOOK. Wealth Management . Studies also show that women are especially concerned about climate change, and some experts believe having more women leaders in energy could Women in Science: Do you think women will always be underrepresented in STEM fields?

"A profitable firm at which 30 percent of leaders are women could expect to add more than 1 Joe Carella, the assistant dean at the University of Arizona, Eller College of Management , has A few years ago, Ragini Verma, an associate professor at the Perelman School of Medicine at the University

While board members in the USA and other industrialized nations are becoming significantly more female, two mechanisms can be observed in listed German companies in the year of the crisis: "A downsizing of board members and recourse to the familiar, the familiar, the tried and tested - one relies on men" Investigation to the point.

Opposing trend

Much more often than in previous years, German corporations would have said goodbye to their female board members in 2019, so that the proportion of women in the 30 companies listed in the German stock index Dax no longer rose as in previous years, but decreased in the past year and on the level of 2017 had fallen. Currently it is only 12.8 percent. Overall, the number of DAX companies without a single woman on the board has jumped from 6 to 11 since September 2019.

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Women are more likely to manage passive funds than active funds, and they're more likely to oversee fund of funds as opposed to funds that buy and sell individual securities, Morningstar said. Female fund managers are also more likely to share management responsibilities with other staffers, as opposed

In management , women are classified as having the right people skills, able to tap into female consumer power and adept at extracting employee commitment. In functional areas such as finance, research, operations, and general management , women managers remain a much smaller minority.

In countries such as the USA, Great Britain, Sweden or France, according to the studies of the study authors, management teams with more women are continuously being built up even in times of crisis. In the USA the proportion of women in top management is highest at 28.6 percent, followed by Sweden (24.9 percent) and Great Britain (24.5 percent). This means that the proportion of women there is "more than twice as high as in the most important German companies, which are in last place in an international comparison and are falling further and further behind."

Wiebke Ankersen, Geschäftsführerin der AllBright Stiftung © AllBright Foundation Wiebke Ankersen, Managing Director of the AllBright Foundation

To rely on trusted men in a crisis is a short-sighted reflex that will take revenge sooner or later, emphasize Wiebke Ankersen and Christian Berg, who jointly run the AllBright Foundation in Berlin conduct. "The well-trained women have long been available in large numbers. The companies just have to give them responsibility much more consistently - even and especially in times of crisis."

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There are countless scientific studies that claim to identify differences between male and female cognitive aptitudes and, in the UK, far fewer girls choose to study computer science Students at the Indian Institute of Management Lucknow. Far more women study computing in India than in the UK.

The visionary behind “30 by 30” is no stranger to the boys’ club of finance herself. Before making the plunge into the nonprofit world, hedge fund industry veteran Hingorani managed 0 billion in pension funds as interim CIO of New York City’s Bureau of Asset Management at one time.

Dax without a single corporate boss

The study by the AllBright Foundation not only criticizes the fact that Germany is the only country in the comparison where not one of the 30 largest corporations has a 30 percent share of women on the executive board. It is even the only country without a CEO in the 30 largest listed companies. The only woman who made it to the top of the board of a Dax group in October 2019 - Jennifer Morgan at the software giant SAP - had to leave after just six months.

And while 97 percent of American and 87 percent of French large companies have several women on the board, in Germany only the four DAX companies Allianz, Daimler, Deutsche Telekom and Fresenius Medical Care could claim that.

Trend towards female managers from within Germany

Many of the "departed board members" were pioneers in top management who were often recruited from abroad. This first generation will now be gradually replaced, so that 90 percent of the newly hired female board members in 2019 will come from Germany. "The 'pipeline' of women executives in German companies is more full than ever before," is the optimistic outlook of the study authors despite everything.

tko / hb (AllBright Foundation)

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