The UK’s biggest companies are likely to appoint a female director only if the post has been vacated by another woman, according to research that suggests sex bias is entrenched at the top of British business.

The report’s authors analyzed the board composition and performance between 1996 and 2010 of companies listed on the FTSE 350 index, and say their research raises questions about whether companies are guilty of tokenism, and are failing to understand the moral case for bringing more women into the boardroom.

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