In recent years, the participation of women in the Boards of Directors of the entities supervised by the Financial Superintendence has grownto the point that in 2022 it reached 26%, but there is still a long way to go.
Among those with the highest participation are Administrators of the Solidarity Regime of Prima Mediawith a 37% participation of women, Capitalization Financial Institutions, with 35% and Mutual Investment Funds, with 34%.
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Among the types of entities with less participation are Trading and Currency Registry Systems Administrators and Companies Specialized in Electronic Deposits (Sedpes)with 6% and 9% participation.
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On the other hand, according to the Superfinanciera, there are two ways of evaluating the relationship between the permanence of the members of the Boards and the performance of the companies.
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First, longer board tenure is thought to improve their supervisory performance, as they are less susceptible to peer review and less likely to be biased by management and may perform better as advisors, because they know more about the company’s operation, environment and reports.
Secondly, a greater permanence of the members can affect the performance of the firms, since they can lose independence in relation to the administration.
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For the members of boards of the supervised in the last 10 years, an average tenure of 5 years is observed compared to an average age of 58 years. 10.2% of the directors related to the administration of their entity have contracts with it. It should be noted that reference is made to the independence indicated for the boards in the Organic Statute of the Financial System so that they are not integrated by a number of members who in this condition agree to make decisions.
ECONOMY AND BUSINESS
