Women in family firms

Family firms have a larger proportion of women on boards and women CEOs than nonfamily firms.

Controlling families tend to be closely involved in their family firms. That is an important factor leading to a higher proportion of women CEOs and women on the board of family firms.

Women on board: firm size

Family firms have a higher proportion of women on board regardless of firm size. Among family firms, the proportion of women on board is lowest among the largest firms.

The graph below presents the numbers for 2023. Firms are grouped in size deciles based on their revenues, with 1 being the smallest and 10 being the largest. Family firms are defined as firms or business groups where an individual or a group of related individuals ultimately control at least 50% of the equity.

Women on board: geography

Norway has a complex geography, going from large cities to small isolated places. Norwegian municipalities are classified into 6 groups based on their centrality, with 1 being the most central (the Oslo region) and 6 being the most isolated.

Family ownership is more important in less central areas. Moreover, while the typical size of nonfamily firms decreases abruptly from more to less central regions, the typical size of family firms is more stable.

The proportion of women on board is larger in family firms than in nonfamily firms across all geographical regions. The smaller size of nonfamily firms in less central regions is associated with a higher proportion of women on board.

Women as CEOs in family firms

The proportion of women CEOs in family and nonfamily firms has been gradually increasing over the past decades. The proportion has been several percentage points higher in family firms throughout the period. By 2023, the end of our time period, almost one fifth of family firm CEOs were women, compared to around 15% for nonfamily firm CEOs.

The difference between family and nonfamily firms is largest in smaller firms. (The graph below groups limited liability firms into 10 size deciles based on their revenues in 2023.)

If we look at large firms, defined as firms with at least 100 million kroner in turnover and 100 employees, it appears that nonfamily firms have caught up with family firms in the proportion of family CEOs in recent years.

Looking at geography, family firms are more likely to have female CEOs across all types of centrality. The difference is smallest in region 6 (least central municipalities), where nonfamily firms are also relatively small.