Assessing Support for Gender Equality Certification in Italian Lombard Companies

Abstract

This study examines the firm's factors influencing the likelihood of participating in the Lombardy Region's call for support for gender equality certification. The sample under study consists of 12,694 micro, small, and medium-sized firms in Lombardy, of which 575 firms participated in the Lombardy region's call for tenders to support gender equality certification. The research analyses the impact of the presence of women on boards of directors and in executive positions, firm age, profitability, and financial constraints. The results show that firms with a higher percentage of women on boards of directors and in executive roles, listed, and with high revenues are more likely to seek certification support. In contrast, firm profitability, liquidity, and age do not appear to influence the decision to participate significantly. These findings offer important implications for both management and policy: firms interested in gender equality certification could benefit from the access to the support, while more targeted regional policies could also encourage the participation of less profitable and younger firms.