Gender Equality: Women Leadership in Financial Sector

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Table of Contents

Introduction
Literature Review
Methodology
Discussion
References

Introduction

Statement of the Problem

The proposed research will address the issue of gender equality (GE) in the field of financial sector leadership. While the principle of GE has become a part of the image of the modern world, the signs of discrimination are still visible (Fitzsimmons, Callan, & Paulsen, 2014; David & Guerrina, 2013). Phenomena of occupational segregation, glass ceilings or sticky floors are still an issue all over the world, and the US is not an exception (Wallace, 2012; Cozzens, 2008). Gender inequality is, therefore, a very persistent problem, and further development of both theoretical and practical knowledge concerning the issue is required.

Purpose of the Study

The primary purpose of the study is to assess the effectiveness of various GE tools in the context of the financial sector in the US.

Research Question/Hypothesis

The primary question of the research can be formulated in the following way. In the context of a developed country with an advanced understanding of GE, is the balanced tool of gender mainstreaming more effective in promoting and maintaining GE than the more radical equal rights principle? The hypothesis is that the answer would be positive.

Definition of Terms

Equal rights principle (ERP) is a tool that is aimed at promoting equality while neglecting the differences between the needs of people of different genders (Prügl, 2009, p. 178).

Gender mainstreaming (GM) is a tool that presupposes promoting GE while taking into account the differences the needs of people of different genders (Prügl, 2009, p. 174).

The definition of leadership for this study can be limited to the formal position of leadership since this is a factor that can be easily traced and measured.

The notion of equality will be defined as equal opportunities for work and promotion within the financial sector for the sake of convenience.

Theoretical Framework

The main drawback of ERP is the fact that it ignores the differences in the needs of people of different genders. As a reaction to this problem, GM was created in an attempt of finding a balance between empowerment and the promotion of equality without the elimination of gender identities (Prügl, 2009, p. 178). However, feminists accuse GM of creating new stereotypes (for example, those concerning female leaders) which is counterproductive to the goal of promoting equality (Prügl, 2009, 188). It cannot be denied that the two tools have advanced the understanding of equality, but as a result, GE promotion is left with two widely used but deficient strategies. The comparison of their effectiveness is going to be investigated in the proposed research.

Literature Review

The problem of gender inequality is being addressed by numerous studies in the form of philosophical dwellings, theoretical investigations, and practically applicable research. It is understandable that in certain countries (for example, Islamic ones), GE is still a controversial issue (Hippert, 2011; Kemp, Madsen, & Davis, 2015). Apart from that, the actions aimed at improving the situation can be misused and result in the illusion of improvement (Hippert, 2011). Still, GE issues have been proved to exist in countries that used to forward GE ideas, for example, in the US and the EU (David & Guerrina, 2013). Cozzens (2008) addresses the issue of the lack of women participation in the field of technology and science in the US.

Gauchat, Kelly and Wallace (2012) show that occupational segregation and resulting gender earnings inequality are still an issue for the US. Fitzsimmons, Callan and Paulsen (2014) demonstrate that the core of gender inequality lies in the different upbringing of boys and girls which explains the persistence of this issue. These facts prove that tools of gender inequality elimination require further research.

Methodology

Research Design

Within the proposed research, a number of corporations are going to be tested for GE promotion. The key tools of GE promotion include GM as opposed to ERP; however, if in the process of study other tools or tool variations attract our attention, they may be considered as well. Female leadership is going to be regarded as a primary indicator of equality; however, the corporate culture of the companies will be examined for other aspects as necessary.

Sampling

Purposive sampling is going to take place. Tracking most successful financial sector companies with the help of ratings similar to those of Forbes can be suggested. By choosing the most successful and, therefore, significant companies, we ensure that enough information regarding them is going to be available; the concern of the major US companies with promoting GE is apparent.

Characteristics of the company (including the number of women in managerial positions and the claimed implementation of GE tools) are going to be taken into account to define the final sample. We do not intend to research extensively more than eight companies.

Instrumentation

The observation grid for the primary sampling stage will include a minimum of factors, most certainly incorporating the number of female leaders and the assumed implementation of GE tools.

The grids for the final sample as well as those for the subsequent research may be customized as necessary. The key factors of the research are the dynamics of the number of female CEOs and the actual tools implementation.

The perceived GE will be measured with the help of surveys that could also require customizing. However, this part of the research will be carried out in case it is considered worthwhile.

Data Collection and Analysis Procedures

First, the exact data concerning the participation of women in leadership activities will be considered. The milestones will include the year of the equality tools implementation as well as other significant and relevant ones, depending on the company’s history. The inclusion of GE principles into corporate cultures will be studied. The data will be analyzed and, in case it is necessary, a more detailed investigation into a company will be carried out through interviews or surveys.

Protection of Human Rights

We will use the information that is in free access. In case we need employees to participate, they will be provided with informed consent forms.

Discussion

As the literature analysis above shows, introducing and assessing the effectiveness of GE tools is still necessary. Apart from that, the study of women leadership in the financial sector appears to be underrepresented. Leadership in the financial sector is being researched, for example, in the works by Suliman and Al Obaidli (2013), Cherian and Farouq (2013), and Bazin (2015). Similarly, female leadership is being researched, for example, in the works of Leicht, Randsley de Moura and Crisp (2014) or Kemp, Madsen and Davis (2015). The proposed research can provide information concerning both topics.

References

Bazin, Y. (2015). On the issue of stability of Wall Street CEOs, while hoping for cultural changes in the financial sector. Society and Business Review, 10(1), 91-98. Web.

Cherian, J., & Farouq, S. (2013). Does Effective Leadership Style Drive Financial Performance of Banks?Analysis in the Context of UAE Banking Sector. International Journal of Economics and Finance, 5(7). Web.

Cozzens, S. (2008). Gender Issues in US Science and Technology Policy: Equality of What? Science and Engineering Ethics, 14(3), 345-356. Web.

David, M., & Guerrina, R. (2013). Gender and European external relations: Dominant discourses and unintended consequences of gender mainstreaming. Women’s Studies International Forum, 39, 53-62. Web.

Fitzsimmons, T., Callan, V., & Paulsen, N. (2014). Gender disparity in the C-suite: Do male and female CEOs differ in how they reached the top? The Leadership Quarterly, 25(2), 245-266. Web.

Gauchat, G., Kelly, M., & Wallace, M. (2012). Occupational Gender Segregation, Globalization, and Gender Earnings Inequality in U.S. Metropolitan Areas. Gender and Society, 26(5), 718-747. Web.

Hippert, C. (2011). Women’s spaces, gender mainstreaming, and development priorities: Popular participation as gendered work in rural Bolivia. Women’s Studies International Forum, 34(6), 498-508. Web.

Kemp, L., Madsen, S., & Davis, J. (2015). Women in business leadership: A comparative study of countries in the Gulf Arab states. International Journal Of Cross Cultural Management, 15(2), 215–233. Web.

Leicht, C., Randsley de Moura, G., & Crisp, R. (2014). Contesting gender stereotypes stimulates generalized fairness in the selection of leaders. The Leadership Quarterly, 25(5), 1025-1039. Web.

Prügl, E. (2009). Does Gender Mainstreaming Work? International Feminist Journal of Politics, 11(2), 174-195. Web.

Suliman, A., & Al Obaidli, H. (2013). Leadership and organizational citizenship behavior (OCB) in the financial service sector. Asia-Pacific Journal of Business Administration, 5(2), 115-134. Web.

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