Women Business Leaders More Generous in Donating Money

Analysis finds when a board of directors includes three or more women, philanthropic donations skyrocket.

by Lesley Kennedy • MORE.com Reporter

When the Notorious B.I.G. rapped about mo’ money, mo’ problems, he clearly wasn’t dealing with a situation in which women were in charge.

Because when women are leading a company, mo’ money means mo’ donations, CBS News reports, pointing to a new analysis by the nonprofit group Catalyst that found businesses with three women or more on their board of directors doled out 28 times mo’ money to philanthropies than companies with mostly male boards.

To break it down, the boards with three-plus women handed out $27.1 million on average, while the male-dominated boards gave $969,000, according to the network.

“Research suggests that people define fairness differently, and that this may lead them to approach [corporate social responsibility] in distinct ways,” CBS reports that the researchers write. “Operating with gender-inclusive leadership can provide diverse perspectives on fairness, which may broaden the company's understanding of [corporate social responsibility] and generate a higher level of philanthropic activities.”

So maybe we should tweak the lyrics—with huge apologies to the late B.I.G.: “It’s like the more women business leaders we come across, the more generosity we see.”

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First Published November 21, 2011

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