“…This is in line with authors (Cabeza et al, 2019;Joecks, 2020;Maida and Weber, 2022;Osi and Teng, 2021;Pucheta et al, 2021;Ricks, 2018) who point to cultural factors such as the importance of equal gender opportunities, promotion of women in the business environment and support for gender diversity in board positions. Authors (Afzali et al, 2021;Blommaert and Van den Brink, 2020;Chan et al, 2021;Chen and Houser, 2019;Haldar et al, 2020;Halliday et al, 2021;Halrynjo and Blair, 2021;Kirsch, 2022;Kowalewska, 2021;Mateos de Cabo et al, 2022;Mensi et al, 2021;Osi and Teng, 2021) that investigated the functioning of salient organizational factors such as board culture, practices, policies, orientation programs and codes of good governance. On policies, the authors (Brieger et al, 2019;Cabeza et al, 2019;Dewally et al, 2017;De Vita and Magliocco, 2018;Foster, 2017;Heller and Gabaldon, 2018;Huang et al, 2020;Kowalewska, 2020 andLewellyn and Muller, 2020;Maida and Weber, 2022;Martínez et al, 2020;Mateos de Cabo et al, 2019;Seierstad et al, 2017;Seierstad et al, 2021;Sharda, 2019;Thams et al, 2018;Wawryszuk, 2021) focused on mandatory quotas, voluntary quotas, regulations, and policies.…”