By Muzrifah Mohamed & Nur Idzatti Athirah Irwan Sani
In the year 1975 United Nations General Assembly has announced March 8 every year as the International Women’s Day. Annually on this day, women across the globe will be celebrated for their contributions and achievements in the social, economic, cultural and political aspects. Generally, by having women on boards, it will lead to a positive impact on the male director’s participation as women are more likely to be involved in the committees than men. The Institutional Investors Council Malaysia (IIC) has stated that its revised Malaysian Code for Institutional Investors 2022, which will be released on September 23, would say that it expects investee businesses to have at least 30% female participation on their boards within three years. This is consistent with the Malaysian Code for Corporate Governance. Under this revised code, investee companies of IIC members, which include seven government-linked investment companies (GLICs), must have clear policies to support the participation of at least 30% women on the board and in senior management, and the board must demonstrate commitment to taking concrete action to implement these policies (The Star, 2022; Vasu & Kaur, 2022)