Women in Philippine Government Financial Institutions: A Network Analysis of Interlocking Governing Boards

Abstract

Interlocking directorship is often described as the practice of members of a corporate board of directors serving on the boards of multiple corporations simultaneously. In the Philippines, previous studies have shown that of all the directors that served on the top 100 corporations, only 15 percent are women. On average, women comprise only 13 percent of the board of directors of individual companies. Hence, this study examines board interlocks within Philippine Government Financial Institutions (GFIs) and their gender aspect. By analyzing ten GFIs through network analysis over the period 2017-2019, this study finds two important points: (i) women’s representation in the board has been significantly low and (ii) board interlocking is highly connected and highly concentrated on a few directors holding multiple seats. Although they are still connected with the rest of the network members, women must go through farther and lengthier paths to reach other members than their male counterparts. This diminishes the opportunities to be an influential and significant network member. Thus, this paper recommends bringing the issue into national policy debates and creating better employment opportunities for women.