Date of Conferral

7-3-2025

Degree

Ph.D.

School

Management

Advisor

Jose Perez

Abstract

Although research underscores the importance of having women on boards, the problem is that women remain disproportionately underrepresented in boardrooms, even in countries with mandatory quota laws. The purpose of this qualitative case study was to explore shareholders’ perceptions and attitudes on recruiting female board members to serve at financial institutions in the Caribbean. The agency and critical mass theories grounded this study. The participants comprised 10 shareholders, five of whom were current board members. Data were collected using semistructured interviews. Six themes emerged from the thematic analysis: (a) shareholders’ perceptions of women regarding board governance and decision-making, (b) shareholders’ perceptions of women’s performance, (c) shareholders’ perceptions of the challenges associated with diversity and inclusivity, (d) attitude of shareholders towards gender diversity and inclusion, (e) attitude of shareholders towards achieving gender equity in board composition, and (f) strategies in place to enhance women’s participation in board leadership. The findings indicated that while the institution embraced the inclusion of women on its board, there remained room for growth to fully integrate a critical mass of at least three to four female members. A key recommendation is for financial institution shareholders to reshape their perceptions of women by fostering greater board representation and positively impacting organizational financial performance. The implications for positive social change include the potential for financial institution shareholders to appoint more women to boards that could enhance financial and social performance, benefiting institutions and communities.

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