Women make up 30. 50% of company directors, according to a UCC study.

In the Greater Accra Region (GAR), just 30.50% of company directors are female, according to a study by academics at the University of Cape Coast's School of Economics.

According to the study, firms in the food and lodging industries had much higher gender diversity than those in other industries, and gender diversity in firm leadership was positively correlated with Corporate Social Responsibility (CSR) outcomes.

A firm's progress in CSR could be undone, though, if more than six of its ten directors are women.
Do Women in Leadership Affect Firms' Environmental, Social, and Governance Performance? is a one-year study. Between April 1, 2022, and April 20, 2023, researchers from the School of Economics at the University of Cape Coast worked with the Ghana Statistical Service and the University of Western Ontario to conduct "A Study of Firms in the Greater Accra Region of Ghana."

One of the study's principal investigators, Dr. Raymond Elikplim Kofinti, presented the study's findings at a public workshop in Accra.

Prof. Emmanuel Ekow Asmah, Dr. Camara Kwasi Obeng, Dr. Emmanuel Joel Aikins Abakah, Dr. Joshua Sebu, Dr. Gloria Essilfie, Dr. William Godfred Cantah, and Dr. Ralph Nordjo were all members of the research team.

The remaining participants were Prof. Godwin Arku of the University of Western Ontario in Canada, Mr. Anthony Krakah and Prof. Samuel Kobina Annim, both of the Ghana Statistical Service.

The project is an initiative of the Private Enterprise Development in Low-Income Countries (PEDL) program, which is supported equally by the Foreign, Commonwealth and Development Office (FCDO) and the Centre for Economic Policy Research (CEPR).

The Ghana Statistical Service undertook the sample and data collecting with a focus on 312 medium and large businesses and collected values for 792 directors of these businesses, including 292 female and 500 male directors.

Through the use of linear regression and quasi-experimental methods, the study explored whether the presence of women in leadership positions has an impact on the environmental, social, and governance performance of businesses in Ghana's Greater Accra Region.

Dr. Kofinti said the study's findings issued a strong demand for gender diversity in the bodies of businesses that make decisions, but they also issued a warning against female domination.

He claimed that the research revealed that, out of the four CSR pillars, gender-diverse businesses had the greatest impact on boosting ethical responsibility, followed by organizations with discretionary, economic, and legal duties.

He claimed that the results were consistent with earlier research showing that female corporate leaders would be more concerned with moral and broader societal issues than their male counterparts.

The study found that firms jointly owned by Ghanaians and foreigners performed better in terms of CSR than those solely owned by foreigners or Ghanaians, and that firms that were maturing (5-14 years) exhibited greater adherence to CSR outcomes than those that were younger (0–4 years) and more established (greater than 15 years).

According to the most important data on gender diversity, 30.5 percent of directors are women, and more than two out of five organizations (476%) have at least a third of their directors who are female.

He discovered that there were gender differences in values at the director level, with female directors having lower power values than male directors.

This, according to Dr. Kofinti, suggests that companies with higher proportions of female directors are more likely to support CSR initiatives because female directors place a greater focus on self-transcendence ideals and motivations than their male counterparts.
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