Boardroom gender diversity and long-term firm performance

Parveen P. Gupta (), Kevin C. K. Lam, Heibatollah Sami and Haiyan Zhou
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Parveen P. Gupta: Lehigh University
Kevin C. K. Lam: Hang Seng University of Hong Kong
Heibatollah Sami: Lehigh University
Haiyan Zhou: The University of Texas – Rio Grande Valley

International Journal of Disclosure and Governance, 2023, vol. 20, issue 2, No 2, 119-137

Abstract: Abstract In this research study, we seek to examine whether US public companies with gender diverse boards report better long-term non-financial and financial performance. Using observations from 2003 to 2012, we find that gender diversity on corporate boards has a more positive impact on a firm’s non-financial performance after controlling for the simultaneous effects of board characteristics. However, using the same model for financial performance, our findings are mixed—a positive impact on accounting measure, no impact on market measures but mixed impact on Tobin’s Q. Our findings have policy implications for regulators globally seeking to mandate gender diversity in corporate boardrooms.

Keywords: Board composition; Board gender diversity; Agency theory; Corporate governance; Firm financial performance; Firm non-financial performance; Archival data (search for similar items in EconPapers)
Date: 2023
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Citations: View citations in EconPapers (2)

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DOI: 10.1057/s41310-021-00114-4

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