Female bosses are better for big businesses because they don't waste money on macho mergers, study claims Women in the boardroom spend less but give better value to shareholders Male bosses are focused on costly acquisitions and building an empire The more women in the boardroom, the less the purchase price Women in top positions in business do not fritter away money on big mergers or 'build empires' making them better bosses, a study has found. Firms with women in the boardroom spend less but give better value to shareholders than male bosses who are focused on costly acquisitions as they build a sprawling empire, a study has discovered. Firms with women at high levels of executive management were less likely to be involved in aggressive mergers and acquisitions. Companies could benefit from female bosses, like Karren Brady and Deborah Meaden, as women are more likely to be better at spotting bargains and spending less on purchases But when they did make a purchase, they would spend less, said the study. And the more women in the boardroom, the less the purchase price. It shows that women are less interested in risky mergers and better at spotting a business bargain. The study was carried out by researchers at the Sauder School of Business, part of Canada's University of British Columbia, for the Journal of Corporate Finance. They looked at major acquisitions among America's 1,500 biggest companies across a 12 year period up to 2009, analysing the make up of the buying firm and the price being paid. Finance professor Kai Li said: 'Female board members play a significant role in mitigating the empire-building tendency of CEOs through the acquisition of other companies. Male bosses are focused on costly acquisitions as they build a sprawling empire, a study found 'On average, merger and acquisition transactions don't create shareholder value, so women are having a real impact in protecting shareholder investment and overall firm performance.' Researchers found that companies would be likely to benefit from such a risk-averse approach because mergers and acquisitions do not on average generate value for shareholders, the Daily Telegraph. The findings show the value for big business to increase the number of women directors, said Professor Li. He added: 'It adds fire and force to recent calls to mandate a minimum number of women on the boards of publicly traded companies.' But despite companies benefiting from the inclusion of female directors, many women find it difficult to get a seat in the boardroom. Female bosses like Karren Brady and Deborah Meaden have previously spoken out about rising to the top of male-donimated industries. West Ham vice-chairman Brady, who was unveiled as the Conservative's new business tsar in September, spoke at the Tory Manchester conference of the difficulties of being the first woman "to break into a very male dominated industry" - including being asked what her "vital statistics" were. Miss Meaden has fought her way to being a successful multi-millionaire entrepreneur. She started in business running an amusement arcade owned by her family and later moved to manage an Exeter holiday park, making millions following a management buy-out and subsequent sale. Since then she has invested in multiple successful businesses, including handing over more than £2 million of her own cash on Dragon's Den. The findings come after a staggering 75 per cent of women felt that they had been 'shoved aside' in the workplace after becoming mothers. A survey by parents' forum Mumsnet found three quarters thought their careers had stalled since having children. A total of 60 per cent of mothers felt less employable since having a child, while three quarters said it was harder to progress in their career. Nick Clegg has warned that the whole economy misses out when mothers returning from maternity leave are side-lined.