A few weeks ago we sent the Department for Business, Innovation and Skills (DBIS) a FOI request seeking evidence to back up a recent statement by Vince Cable MP which implied a causal link between increasing female representation on boards, and enhanced financial performance. We’ve just received the response, and won’t insult your intelligence by posting it here. It basically refers to documents which show correlations between increased female representation on boards and improved financial performance, but as we’ve said countless times:
Every report and study we’ve analysed showing a correlation between increased female representation on boards and enhanced financial performance – McKinsey, Credit Suisse, Reuters Thomson, Catalyst… – has made it perfectly clear that correlation isn’t evidence of causation and can’t be taken to even imply it. There are far more credible explanations for those correlations than some nebulous ‘female factor’. The only evidence we have of a causal link is five longitudinal studies showing a link between increased female representation on boards and declines in financial performance.
We’ve asked for a meeting with one or more of three DBIS ministers – Vince Cable MP, David Willetts MP, Michael Fallon MP – to discuss the matter.
