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The debate for higher female representation on corporate boards has become particularly intensive during the recent financial crisis. Scholars advocate that women are more risk-averse, more engaged with longer-term issues and tend to draw more attention to governance and ethics. Thus, it is suggested that due to the behavioural differences between men and women, more gender-balanced boards would have prevented a number of financial collapses. This assertion has triggered more detailed analyses of current statistics for women on boards in the European Union. A number of states have implemented various non-binding measures for improving female representation on boards. This brought them acclaim, yet no discernible results. Should we indeed insist to have gender-balanced boards, we need quotas. Evidence is of strong support.

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Irina Velkova is a Corporate lawyer who examines Corporate Governance topics and issues related to Gender Diversity. Currently she works within the financial regulation advisory department of Grant Thornton LLP, UK. Prior to this, Irina Velkova has served as a Chief of Staff to the Deputy Prime Minister and Minister of Finance of Bulgaria. In that capacity, she gained extensive practical Corporate Governance expertise and experience.
She obtained her LLM Degree from University College London and is also awarded with a Diploma in English and European Law from the University of Cambridge.

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