More women on the board make for better corporate governance. This is the conclusion of a report by Cranfield School of Management, which shows that women are still significantly under-represented in boardrooms of the UK’s top firms.

The annual survey shows that nearly a third of FTSE 100 firms have men-only boards. The number of women executive directors remains unchanged from last year at 17.

Yet Cranfield’s Female FTSE index shows a link between firms with women on the board and better corporate governance.

“A diverse board can generate a richness and quality of ideas that is lacking in an all-male board locked into the same mindset,” said Dr Val Singh, co-author of the report.

Dr Elizabeth Haywood, managing director of executive search agency kmc international, said: “People should realise that stagnant boardrooms do not generate good results and organisations must appreciate the contribution that a diverse senior management can make to business.”