Aspira Women's Health Case Embryo

In March 2023, Aspira Women’s Health, a women’s health company developing gynecological diagnostic tools, made history by becoming the first public company to adopt an all-women board. According to the Q1 2023 Equilar Gender Diversity Index (GDI), women’s representation on boards has observed the largest increase (1.5%) since Q2 2022. Additionally, gender diversity on boards has been shown to attract stronger investor and consumer interest. Legislative efforts have also been important in pushing diversity efforts forward, with the example of California Senate Bill 826 requiring at least one woman on all public company boards headquartered in the state, despite being ruled unconstitutional in 2022. Board diversity is also supported by theories such as human capital theory, resource dependency theory and institutional theory, to cite a few. This case explores this milestone’s lasting positive impact on corporate social responsibility, financial performance, as well as on the company’s strategy, risk and leadership.