{"id":12444,"date":"2017-08-21T17:34:48","date_gmt":"2017-08-21T21:34:48","guid":{"rendered":"https:\/\/globewomen.org\/globalsummit\/?page_id=12444"},"modified":"2018-02-05T11:49:54","modified_gmt":"2018-02-05T16:49:54","slug":"november-1-2013-issue-no-ccxiii","status":"publish","type":"page","link":"https:\/\/globewomen.org\/globalsummit\/november-1-2013-issue-no-ccxiii\/","title":{"rendered":"November 1, 2013; Issue No. CCXIII"},"content":{"rendered":"

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Issue No. CCXIII; November 1, 2013
\n<\/strong>
\nTHIS ISSUE’S HIGHLIGHTS:
\n<\/u>I.\u00a0\u00a0\u00a0 GLOBAL SUMMIT OF WOMEN 2014: PARIS, FRANCE
\nII.\u00a0\u00a0 EFFECT OF WOMEN’S WORKFORCE PARTICIPATION ON ECONOMIC GROWTH
\nIII.\u00a0 WHY WOMEN ARE BETTER INVESTORS THAN MEN
\nIV.\u00a0 BRIDGING THE INTERNET GENDER GAP IN THE DEVELOPING WORLD
\nV. HOW TO GROW WOMEN-OWNED ENTERPRISES<\/em><\/strong><\/p>\n

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I. GLOBAL SUMMIT OF WOMEN 2014: PARIS, FRANCE<\/em><\/strong><\/p>\n

\"\"<\/a><\/p>\n

One of the world\u2019s most dynamic and enchanting cities,\u00a0Paris, France is the site of the 2014 Global Summit of Women hosted by France<\/em><\/strong>.\u00a0\u00a0With the support of the French government, the Ministry of Women\u2019s Rights, and many leading women executives from the country\u2019s top companies,\u00a0the Summit — the foremost international economic forum for women in business, government, and civil society — takes place at the Marriott Rive Gauche Hotel on June 5-7, 2014<\/em><\/strong>.<\/p>\n

With a Cabinet equally divided between male and female Ministers, a Capital city that soon will be led by a woman Mayor, and major companies now boasting 28.6% of board seats held by women, France is a fitting Host for the expected 1,000 women leaders from all corners of the globe for the 2014 Summit.\u00a0\u00a0France\u2019s Host Committee, chaired by Minister of Women\u2019s Rights Najat Valloud-Belkacem and consisting of over 40 of the country\u2019s top business leaders, eagerly awaits its opportunity to welcome Summit delegates to the \u201cCity of Lights\u201d.\u00a0\u00a0France\u2019s President Hollande is slated to speak at the Summit, where he will be joined by the President of Kosovo Atifete Jahjaga as well as the former President of Kyrgyzstan Roza Otunbayeva.\u00a0\u00a0The majority of Summit participants, however, are hundreds of women in business from 70 countries.<\/p>\n

Under the theme of \u201cWomen: Redesigning Economies, Societies\u201d,\u00a0<\/em><\/strong>the 2014 Summit emphasizes women\u2019s pivotal role in bringing about the necessary changes in the economy and in politics, as Europe and other countries work their way out of the worst economic crisis in decades.\u00a0\u00a0Throughout the three days of thought-provoking plenary sessions, breakouts, and discussions, the Summit program will provide best practices of how women are succeeding in re-shaping the business world, re-engineering their communities, and re-defining global leadership.<\/p>\n

Given the strong interest expressed in the 2014 Global Summit of Women, delegates are urged to make their arrangements early as hotel space is limited and visa requirements stringent.\u00a0 Early-bird registration is now available.\u00a0 To view the Summit program schedule, to register and to make hotel reservations, go to\u00a0www.globewomen.org<\/a>, and click to the Global Summit of Women.<\/p>\n

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II. EFFECT OF WOMEN’S WORKFORCE PARTICIPATION ON ECONOMIC GROWTH<\/em><\/strong><\/p>\n

\"\"Women\u2019s contribution to economic growth is far below its potential and many countries are missing out on the economic benefits that could come from increased female participation in the workforce, according to a new study by the International Monetary Fund (IMF).\u00a0\u00a0The report, \u201cWomen, Work, and the Economy\u00a0shows that despite some improvements, progress toward leveling the playing field for women has stalled.\u00a0\u00a0If the number of female workers rose to the same level as men, GDP would increase by 12% in the United Arab Emirates, by 9% in Japan, and by 5% in the United States.<\/em><\/strong><\/p>\n

Unfortunately, women still account for most unpaid work, and when they are paid, they are overrepresented in the informal sector and among the poor.\u00a0\u00a0In addition, they continue to be paid less than men for the same jobs in nearly every country.<\/p>\n

IMF Managing Director Christine Lagarde\u00a0urged policymakers around the world to take action and implement policies that tear down obstacles for women.\u00a0\u00a0She pointed to government tax and spending policies which could help boost female employment.\u00a0 “Taxing individual rather than family income \u2013 which in many economies imposes a higher marginal tax on the second earner in households \u2013 would encourage women to seek employment,\u201d she said.\u00a0\u00a0In addition,\u00a0linking social benefits to participation in the workforce or training can also help increase female employment, she said, as would the availability of good and affordable childcare and greater opportunities for paternity and maternity leave. (Source: IMF Direct 9\/23\/13<\/em>)<\/p>\n

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III. WHY WOMEN MAKE BETTER INVESTORS THAN MEN<\/em><\/strong><\/p>\n

\"\"That women manage family purse strings has always been a given in many cultures, but who would have thought that women also make great investors?\u00a0\u00a0A seven-year University of California study showed single female investors outperforming single men by 2.3 percent, while female investment groups outperformed male counterparts by 4.6 percent.\u00a0\u00a0Why do men make poor investment decisions? Overconfidence.\u00a0\u00a0According to the study, men are driven by testosterone, bragging rights, and the desire for a \u201cquick win\u201d when they make their investments. They buy and sell more frequently, thus racking up more transaction fees, while women show restraint and a willingness to leave their investments alone for the long term.<\/p>\n

\u201cIn our research, male investors traded 45 percent more than female investors,\u201d Professor Terry Odean says. \u201cMen are just making a lot more bad decisions than women.\u00a0\u00a0More trading leads to lower performance.\u201d\u00a0\u00a0Women are also \u201cemotionally unattached\u201d to their investments and will easily unload a losing investment, while men tend to hold on to a bad investment in the hopes that it will eventually turn itself around rather than having to admit defeat or own up to an error.<\/p>\n

While women are often stereotypically characterized as emotional and irrational and men as logical and reasonable, this study shows that with investments, women have proven to be the more logical beings as demonstrated through their investment savvy and prowess.\u00a0\u00a0In fact, the gender roles have been reversed as men are showing a tendency to let their emotions cloud their ability to make sound investment decisions based on critical thinking, while women are able to do so with aplomb. (The Washington Post<\/em>, 10\/11\/13)<\/p>\n

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IV. BRIDGING THE INTERNET GENDER GAP IN THE DEVELOPING WORLD<\/em><\/strong><\/p>\n

\"\"While many women in developed economies take Internet access for granted, there are still millions of women in emerging economies facing limited availability of web-based connectivity.\u00a0\u00a0In Sub-Saharan Africa, for instance, 40% of women cannot access the Internet, according to Intel.\u00a0\u00a0In order to reduce this Internet gender gap, Intel Corporation recently announced a new initiative to expand digital literacy skills to young women in developing countries.\u00a0\u00a0The program, known as \u201cShe Will Connect\u201d will begin in Africa by aiming to reach 5 million women and to reduce the Internet gender gap by 50 percent.<\/em><\/strong>\u00a0To achieve this, Intel will work with a diverse set of partners including global and local NGOs and governments.<\/p>\n

“The Internet has transformed the lives of billions of people,” said Shelly Esque, vice president of Intel’s Corporate Affairs Group and president of the Intel Foundation. “It functions as a gateway to ideas, resources and opportunities that never could have been realized before, but \u2026 girls and women are being left behind.\u00a0\u00a0\u00a0Closing the Internet gender gap has tremendous potential to empower women and enrich their lives as well as all the lives they touch.” (Intel press release: 9\/30\/13)<\/p>\n

She Will Connect will test a new model that integrates digital literacy with gender and development programming targeting women and girls through an online gaming platform and a peer network.\u00a0\u00a0The online gaming platform aims to deliver digital literacy content for smartphones and tablets through gaming.\u00a0\u00a0Through the Peer Network, Intel is working with World Pulse, a non-profit social media enterprise, to allow women to exchange ideas, find support and mentorship, and obtain relevant content in a safe and supportive peer network.<\/p>\n

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V. HOW TO GROW WOMEN-OWNED ENTERPRISES<\/em><\/strong><\/p>\n

How can we best help women entrepreneurs grow in emerging economies?\u00a0\u00a0The United Nations Foundation along with the ExxonMobil Foundation canvassed hundreds of women entrepreneurs, microfinance experts, some SMEs to find out what works.\u00a0\u00a0In the report,\u00a0A Roadmap for Increasing Women\u2019s Economic Empowerment,\u00a0<\/em>two basic recommendations emerged:<\/strong><\/p>\n