Effect of Board Gender Diversity on Financial Performance of Quoted Deposit Money Banks in Nigeria

John Abuh Oyidih
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John Abuh Oyidih: Nasarawa State University Keffi Nigeria

International Journal of Research and Scientific Innovation, 2023, vol. 10, issue 11, 442-456

Abstract: The monitoring role of the board of directors is a critical corporate governance and control mechanism, especially in countries like Nigeria where external control mechanisms are less well developed. This study examines the effect of gender diversity on financial performance of listed deposit money banks in Nigeria. The population comprises of all the deposit money banks in Nigeria while thirteen (13) listed deposit money banks were sampled, based on their being listed on the Nigerian Exchange Limited from the period 2010 to 2021. The data was analysed using Shapiro-Wilk Normality, Pearson correlation, Heteroskedasticity Breusch-Pagan Test, Hausman specification test and Breusch-Pagan Lagrangian Multiplier Test while hypotheses were tested using robust random effect regression model. The results show that gender diversity (GD) has a significant positive effect on financial performance of listed deposit money banks in Nigeria for the period under review. The study recommends that the owners and regulators of deposit money banks in Nigeria should increase the numberof women gender on their boards to about 45% to enhance their financial performance.

Date: 2023
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