The presidency of the governing boards of cooperatives in Spain: a gendered approach

Abstract

International cooperative values and principles are guidelines that could lead cooperatives towards greater gender equality in the decision-making process. Stimulated by the interest in cooperatives and by the growing demand for advocating a faster increase in the presence of chairwomen in boardrooms, this research aims to analyse the impact of the gender of the cooperative president in some variables related to financial and employment ratios, corporate governance and other characteristics of the organization in Spain. Information about the major Spanish cooperative entities has been collected and analyzed to carry out the empirical study. We find that cooperatives with higher liquidity ratio, higher number of employees, higher percentage of female employees, higher employee costs divided by operating revenue ratio, lower indebtedness, and fewer years since the appointment of the president have a higher probability of belonging to the group of cooperatives with a board chaired by a woman. Cooperatives headed by women exhibit a higher ratio of staffing costs to operating revenues, which could indicate an increased intensity of cooperative principles and values related with the primacy of the economic welfare of workers over the economic benefits.