We know it’s a boys’ club at the top of business, with women holding only 9 percent of all board seats globally—this despite evidence that companies and corporate boards benefit from being more inclusive to women. Now there's further evidence: It appears that women have a greater ability to make fair decisions when competing interests are at stake, according to a new study published in the International Journal of Business Governance and Ethics.

A survey of male and female board members found that, by being more likely than their male counterparts to challenge the status quo in the board room and to consider new ideas, women have skills that often lead to better decisions for their companies. They're more likely to use “cooperation, collaboration and consensus-building” when making complex corporate decisions. Men are more prone to adhere to “rules, regulations and traditional ways of doing business” when it comes to decision-making, while female directors feel less restricted when solving problems.

“Our findings show that having women on the board is no longer just the right thing but also the smart thing to do,” says study researcher Chris Bart, PhD, professor at the DeGroote School of Business at McMaster University in Hamilton, Ontario, Canada. Adds co-researcher Gregory McQueen, PhD, senior executive dean at A.T. Still University’s School of Osteopathic Medicine in Mesa, AZ, “Women seem predisposed to be more inquisitive and to see more possible solutions. This quality makes them more effective corporate leaders.”

The study’s findings demand a deeper look at why women continue to be severely underrepresented in the boardroom. According to Dr. Bart, the existing old boys' culture is very real and may be to blame: “Men are pack animals and they are very much quick to recognize the hierarchy of the alpha males in the group. They would be very unhappy with people coming in with different values or views to the board.”

Studies like this one make the benefits of more women in high-ranking positions difficult to ignore. At Working Mother Media, helping women reach executive and board ranks is a vital goal. Our NAFE Top 50 Companies for Executive Women initiative has and will continue to support this endeavor.