Contingent Effect of Board Gender Diversity on Performance in Emerging Markets: Evidence from the Egyptian Revolution

Melsa Ararat, Moataz El-Helaly, Alan Lowe and Nermeen Shehata
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Melsa Ararat: Sabanci Business School Orta Mahalle, Sabanci University, Tuzla, Istanbul 34956, Turkey
Moataz El-Helaly: School of Business, The American University in Cairo, AUC Avenue, P.O. Box 74, New Cairo 11835, Egypt
Alan Lowe: College of Business and Law, RMIT University, 124 La Trobe Street, Melbourne, VIC 3000, Australia
Nermeen Shehata: School of Business, The American University in Cairo, AUC Avenue, P.O. Box 74, New Cairo 11835, Egypt

JRFM, 2021, vol. 14, issue 11, 1-16

Abstract: The 2011 Egyptian revolution was associated with significant political and social upheaval, followed by societal changes and attempts by policymakers to reduce the marginalisation of women and promote their inclusion in the economy. Drawing on this background, the authors compare the effect of board gender diversity before and after the revolution. Results indicate that gender diversity in corporate boards is coupled with improvements in firm performance in the immediate post revolution phase. This evidence provides insights into the contextual factors related to diversity and performance relationship and supporting arguments for regulatory changes to further encourage women’s representation on boards.

Keywords: corporate governance; boards of directors; Egypt; gender diversity; Egyptian Revolution (search for similar items in EconPapers)
JEL-codes: C E F2 F3 G (search for similar items in EconPapers)
Date: 2021
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