In this new post: "Substantive Gender Diversity in Boardrooms" (based on this academic paper), University of Wisconsin Asst. Prof Yaron Nili makes a strong case for expanding the focus on board gender diversity beyond the numbers to include "substantive gender diversity," which she defines as the role and clout female directors have in the boardroom so as to be on par with male directors.
Armed with evidence of disparities (which are not merely tenure-based) between genders in director tenures, board and committee leadership roles, and intra-board assignments - all of which influence boardroom impact, Nili urges investors and companies to increase their awareness of women's boardroom roles and responsibilities - and thus their ability to meaningfully influence board decision-making, rather than simply focusing on the number of women directors, and push to effect change on this substantive level.