, ’ for results of a global survey of almost 800 business leaders conducted in september 2009. 5 see giuliano, l., levine, d. i, and leonard, j. ( 2006 ). ‘ do race, age, and gender differences affect manager - employee relations? an analysis of quits, dismissals, and promotions at a large retail firm. ’ uc berkeley : institute for research on labor and employment. 6 see christiansen, h., lin, h., pereira j., topalova, p. and turk, r. ( 2016 ) ‘ gender diversity in senior positions and firm performance : evidence from europe. ’ imf working paper, wp / 16 / 50. for other analysis see the gadhia report produced for the uk treasury entitled ‘ empowering productivity : harnessing the talents of women in financial services ’, which notes that companies in the top quartile for gender diversity are 15 per cent more likely to have financial returns above their respective national industry medians. the report also notes that in the uk, for every 10 per cent increase in gender diversity, earnings before interest and tax ( ebit ) rose by 3. 5 per cent. 5 / 6 bis central bankers'speeches 7 see brown, d., brown, d. and anastasopoulos, v. ( 2002 ) ‘ women on boards : not just the right thing... but the “ bright ” thing. ’ 70 report, 341 – 02 : the conference board of canada, ottawa. 8 see central bank of ireland ’ s demographic analysis ( 2017 ). 9 see central bank of malta. 10 see european union. 6 / 6 bis central bankers'speeches

the relevancy of good corporate governance presentation by mrs. leila matroos - lasten, acting - president of the centrale bank van curacao en sint maarten, given to the supervisory board of the laad americas n. v. willemstad - march 7, 2019 good morning ladies and gentlemen, first of all, allow me to thank you ( the board of laad americas n. v. ) for having invited me to introduce this morning the very important topic which is the relevancy of good corporate governance. as the regulator of the financial sectors of the monetary union comprising the countries curacao and sint maarten, the centrale bank van curacao and sint maarten ( the bank ) is entrusted, amongst other, with the supervision of the banking and credit institutions. as such, its supervision is primarily geared towards the promotion of the stability, integrity, efficiency, safety, and soundness of the financial sectors of the countries in general and the safeguarding of the interest of stakeholders of the banking and other credit institutions in particular. the key for the success or failure of the entities supervised by the bank is at the end of the day - corporate governance. corporate governance, according to the basel committee on banking supervision and as adopted by the bank, can be defined as a set of relationships between a company ’ s management, its board, its shareholders and other stakeholders which provides the structure through which the objectives of the company are set, and the means of attaining those objectives and monitoring performance. it helps define the way authorities and responsibilities are allocated and how corporate decisions are made. thus, corporate governance is the driving force of every company, whether a bank or production company. corporate governance became even more important following the financial crisis which unfolded, after the collapse and scandals surrounding several renowned financial / banking institutions and companies such as lehman brothers, bear sterns and barings bank in the period 2007 / 2008. as a result, the “ organization for economic cooperation and development ” ( oecd ) updated its widely accepted and long - established principles for good corporate governance to assist governments worldwide in their efforts to evaluate and improve their frameworks for corporate governance and to provide guidance for participants and regulators of financial markets. the basel committee on banking supervision, responsible for the international standards and guidelines on banking supervision, which has adopted the oecd principles of corporate governance, also updated its own set of corporate governance guiding principles for banks worldwide to assist