This small growth fell far short of the increase in invested capital in 2012, leading to a decline in return on invested capital ( ROIC) to 10%.

FORBES: Praxair Pays Dearly To Keep The Top Line Growing

Current research corroborates: in 2011, Catalyst found a 26% difference in return on invested capital between top-quartile companies with 19-44% female board representation and bottom quartile companies with zero women directors.

FORBES: From Pink Quotas to Pink Ghettos: Opportunities Abound

Looking at companies with women on their boards in 2011, the research group Catalyst found a 26% difference in return on invested capital (ROIC) between the top-quartile companies (with 19-44% women board representation) and bottom-quartile companies (with no female directors).

FORBES: McKinsey on What Women Want