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Effect of gender diversity on the financial performance of insurance firms in Kenya

Hassan Bashir Ibrahim, Caren Ouma and Jeremiah Koshal
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Hassan Bashir Ibrahim: Chandaria School of Business, United States International University –Africa, Nairobi, Kenya
Caren Ouma: Chandaria School of Business, United States International University –Africa, Nairobi, Kenya
Jeremiah Koshal: Chandaria School of Business, United States International University –Africa, Nairobi, Kenya

International Journal of Research in Business and Social Science (2147-4478), 2019, vol. 8, issue 5, 274-285

Abstract: The aim of this study was to examine the effect of gender diversity on the financial performance of insurance firms in Kenya. The study analyzed data from the 55 insurance firms licensed by the Insurance Regularity Authority (IRA) in Kenya. Gender diversity was operationalized by the number of female directors serving on the boards of insurance firms operating in Kenya. Primary data was collected from a sample of 412 board directors, Chief Executive Officers (CEOs), Chief Finance Officers (CFOs), Audit Committee members (AUDIND) and Internal Auditorsusing a questionnaire instrument while secondary data was retrieved from audited financial reports of the year 2017. Data were analyzed using descriptive and inferential statistics. Firm performance was measured by the two accounting-based measures Return On Assets (ROA) and Return On Equity (ROE). The findings from the regression analysis indicate that gender diversity significantly and positively affects the financial performance of insurance firms in Kenya. Key Words: Gender Diversity, Corporate Governance, Firm Performance, Board Diversity

Date: 2019
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