The Globalization of Women’s Leadership

Multinational corporations do not only export products, technology, or business models; they may also transfer practices related to gender equality and professional development opportunities. Of the women featured in Expansión’s annual list of the 100 Most Powerful Women in Business between 2010 and 2024, 68.5% worked for foreign multinational enterprises. This figure suggests that globalization may be expanding leadership opportunities for women through mechanisms that are less visible than trade or investment.

But why do so many of the most influential women in Mexican business build their careers in companies headquartered abroad? In our recent study, “Importing Career Opportunities: How Foreign Multinationals Drive Female Leadership in Mexico” (Cogent Business & Management, 2026), we found that higher levels of gender equality in multinationals’ home countries are significantly associated with greater female representation in leadership positions. Our findings suggest that institutional and cultural norms also travel with firms across borders.

Our empirical analysis was based on Expansión’s annual ranking of the 100 Most Powerful Women in Business (2010–2024), combined with country-level indicators, inward foreign direct investment data, and GDP per capita figures from firms’ home countries. We examined the relationship between foreign ownership, prevailing gender norms in the home country, and women’s representation in executive positions. In addition, we used LinkedIn data to estimate women’s tenure within their current organizations.

The Globalization of Gender Equality Norms

Over the past few decades, Mexico has become one of the leading destinations for foreign direct investment while continuing to exhibit significant gender gaps at the highest levels of corporate leadership. This combination of economic openness and persistent inequality provides a useful setting for examining whether multinational corporations influence women’s professional opportunities.

As one might expect, multinational corporations are products of the environments in which they originate. Their hiring, promotion, and talent development practices often reflect the norms, values, and expectations prevailing in their home countries. Some of the recent advances in gender diversity within Mexican business may therefore be linked to multinational enterprises. Unlike domestic firms, these organizations operate simultaneously across different institutional contexts. They must adapt to local conditions while maintaining a corporate identity consistent with the practices and principles of their headquarters.

As a result, when companies expand internationally, they transfer not only technology, knowledge, and business models, but also practices related to talent management, leadership, and inclusion. If a multinational originates in a country where women participate more fully in economic life and have greater access to leadership positions, it is reasonable to expect that some of these practices will also be reproduced in its international operations.

Gender Equality Also Crosses Borders

To test this hypothesis, we combined information on the executives featured in the Expansión ranking with indicators from the World Economic Forum’s Global Gender Gap Index. The results show that firms originating from countries with higher levels of gender equality have greater female representation in leadership positions within their Mexican operations.

The evidence becomes particularly compelling when comparing countries of origin. During the period analyzed, Mexico scored 0.612 on the Economic Participation and Opportunity component of the Global Gender Gap Index. By contrast, the United States scored 0.765 and Spain 0.732. These differences reflect distinct institutional environments regarding women’s economic opportunities. According to our findings, multinationals from more gender-equal contexts tend to have a stronger presence of women in senior leadership roles in Mexico, suggesting that norms and expectations related to female leadership can be transferred through international business operations.

Where Do Women Leaders Work?

The study also provides a snapshot of the organizations where many of Mexico’s most influential female executives build their careers. U.S.-based multinationals account for the largest share of cases, followed by firms from the United Kingdom, France, Switzerland, Germany, Japan, and Spain. Companies represented in the sample include Ford, PepsiCo, Dow Chemical, Unilever, AstraZeneca, L’Oréal, Danone, Nestlé, Novartis, Siemens, SAP, Nissan, and Telefónica Movistar. Their recurring presence in the ranking illustrates the important role multinational corporations play in the professional trajectories of women who have attained leadership positions in Mexico.

Another notable finding is that more than half of the executives analyzed worked in manufacturing and industrial activities. This reflects the importance of global value chains and foreign investment in strategic sectors of the Mexican economy.

Structural Barriers Remain

Although the study offers an encouraging perspective on gender equality, its findings do not imply that multinational corporations automatically eliminate the barriers women face in the workplace. In fact, when we examined whether women reach senior leadership positions more quickly in multinationals than in Mexican firms, we found that the difference was minimal. In other words, women working for multinational corporations do not reach top management positions substantially faster than those pursuing careers in domestic companies.

This finding suggests that multinationals may expand the opportunities available to women, but they do not necessarily remove the structural barriers associated with gender roles, social expectations, or organizational dynamics that continue to limit women’s access to positions of power. Mexico still faces significant challenges in this regard. Women remain underrepresented in top management teams and corporate boards, particularly in sectors traditionally dominated by men. Moreover, social norms and beliefs continue to shape career trajectories and influence leadership opportunities.

Globalization Moves More Than Capital

For decades, discussions about foreign investment have focused primarily on its economic effects. Yet our evidence suggests that multinational corporations can also serve as vehicles of institutional transfer, carrying practices and expectations that influence who gains access to leadership positions. In this sense, globalization moves more than capital, technology, or knowledge; it can also help spread different ways of identifying, developing, and promoting talent.

The mere presence of multinational corporations does not guarantee gender equality, nor can it replace deeper changes within institutions, organizations, or society. Nevertheless, these firms can play an important role in the gradual transformation of professional opportunities available to women in countries such as Mexico.