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Contributions by Damion Rallis

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  1. PAPER

    The Tipping Point - Women on Boards and Financial Performance 

    Dec 13, 2016 Meggin Eastman , Damion Rallis , Gaia Mazzucchelli

    Investing (Investment Management) , Responsible Investing

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    A growing body of research shows that having three women on a corporate board represents a “tipping point” in terms of influence, which is reflected in financial performance. U.S. companies that began the 2011-2016 period with at least three women on the board experienced median gains in Return on Equity (ROE) of 10 percentage points and Earnings Per Share (EPS) of 37%. In contrast, companies that began the period with no female directors experienced median changes of -1 percentage point in ROE and -8% in EPS over the study period.  However, a causal link was not established.

  2. PAPER

    Research Insight - Women on Boards: Global Trends in Gender Diversity 

    Nov 30, 2015 Ric Marshall , Matt Moscardi , Damion Rallis

    Investing (Investment Management) , Responsible Investing

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    Many institutional investors are increasingly focused on the gender composition of company boards. Our latest research shows that companies in the MSCI World Index with strong female leadership generated a Return on Equity of 10.1% per year versus 7.4% for those without, as of September 9, 2015, though we could not establish causality. We found that companies lacking board diversity suffered more governance-related controversies than average. Global asset owners are promoting a 30% global female director goal; we estimate that this goal is unlikely to be attained until 2027. We explored two ways to reach the 30% goal as early as 2020.