A systematic literature review of studies on women at the top of firm hierarchies: critique, gap analysis and future research directions

Purpose: This study aims to holistically explore the academic literature on female leaders to identify the key topics and dynamics of the field. Design/methodology/approach: The authors systematically review 532 papers to explore the research on female leaders; based on objective and replicable criteria, the authors identify relevant papers and thus ensure the quality of the analysis. The bibliometric analysis and visualization support us in recognizing trends in this topic. Findings: This study outlines the state of the art over the past decade by synthesizing theoretical contexts and critically discussing the main streams of research on sustainability, firm outcomes and barriers preventing women from reaching the upper echelons. The authors also explore empirical issues and highlight areas that entail new paths for future scholars. Practical implications: The research provides novel evidence of the attempt internationally to increase female participation at the top of the firm hierarchy by analyzing firm outcomes, sustainability and the constraints faced by women in achieving these careers. Social implications: The results show that the participation of women in leadership roles is not (only) a matter of compliance with current regulations. Through their ability to monitor key social and environmental issues from a long-term perspective and their attention to the internal control systems, companies more effectively pursue their financial and nonfinancial aims. Originality/value: Using bibliographic and narrative analyses, this study reviews the literature on women at the top of the firm hierarchy with a focus on business research. The authors extend prior studies by investigating a larger pool of firm roles to provide a comprehensive understanding of this widely discussed topic.