Board size, diversity and composition in terms of good corporate governance practices case of Zimbabwe United Passenger Company (ZUPCO)

Abstract

This study explored how and when female board members make effective contribution to board processes in Zimbabwe United Passenger Company a passenger transport parastatal in Zimbabwe, a context characterized by low female representation on corporate boards, but highly under-researched with respect to the gender and corporate governance literature. The study is based on questionnaire data from 5 board of directors in the Company. Women on corporate boards contribute to effective board processes and outcomes when their proposed ideas during board meetings are accepted by other board members, implemented by management, and have a positive impact on organizational outcomes such as improved financial, product, and staff outcomes. These effective contributions of female board directors to corporate board processes can be further enhanced by suitable female directors' personal-level conditions such as human capital (advanced degree and professional qualification, and past board membership experience), as well as board-level conditions such as occupying a chairperson/leadership position on the board or committees, and regular attendance. As a result, this study added to the gender and corporate governance literature by providing new evidence from an under-researched geographical context on how women on corporate boards contribute to effective board processes. It also emphasizes the personal and board-level conditions required for female directors to make greater contributions to corporate board processes and outcomes in male-dominated societies and boards.