Women make consumer expenditures of $20 trillion annually, and they feel closer to brands led by fellow women. Therefore, the number of female managers in family companies has been increasing in recent times.
Companies that prefer female CEOs have many advantages, such as higher share prices, profitability, income growth and market value compared to companies run by men, according to research carried out by international consultancy company Ernst & Young (EY). According to research conducted in 21 countries from Australia to Brazil, families prefer to leave their businesses to female members of the family. In the league of countries in which women want to participate in management most, Turkey came fourth in the world and second in Europe with 54 percent, leaving France and the Netherlands behind. One of the biggest economies in Asia, India, topped the list with 72 percent, while Spain came second with 59 percent. Spain was followed by South Korea with 58 percent, Turkey with 54 percent, Japan with 52 percent, Canada with 50 percent and the U.S. with 45 percent. Belgium drew attention by being the last with 12 percent. The EY research also revealed the weight of family companies on the global economy. While 70-90 percent of global revenue comes from family companies, those companies cover 80 percent of trade. With at least one female member on boards of directors in 55 percent of companies in the world, women are in CEO and chairman positions in 22 percent of these companies. The number of companies where women constitute more than half of the boards of directors is 8 percent. EY Turkey added five new partners to its management this year, and the number of EY Turkey partners increased to 46 with these new members. EY Turkey Country Leader Mustafa Çamlıca said, "We aim to grow above the sector average in all fields in which we provide services with the new partners participating in management." EY appointed 753 new partners to management around the world this year. This figure, the highest number of appointments since 2008, represents an increase of 12 percent compared to 2014.
