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Gender diversity and firm performance: evidence from India and Singapore

Author

Listed:
  • Geeta Duppati
  • Narendar V. Rao
  • Neha Matlani
  • Frank Scrimgeour
  • Debasis Patnaik

Abstract

This study investigates if gender diversity on boards is an effective driver of financial performance. For this purpose, this study choses two countries, one of which has the soft law approach (Singapore) while the other has mandatory requirements (India) on corporate boards gender diversity. By doing so, it examines if there is a comparability between the listed firms of the two countries. Our results suggest that the gender diversity has a positive and significant effect on the financial performance of the firms of both the countries. Although, the gender diversity of the two countries does not seem to affect the growth opportunities of both the countries. Further, our results indicate that the board characteristics affect the performance positively and significantly when the sample is divided into five quantiles for the firms in these two countries. These findings have implications to the managerial decision making and relevance to stewardship theory and resource dependency theory.

Suggested Citation

  • Geeta Duppati & Narendar V. Rao & Neha Matlani & Frank Scrimgeour & Debasis Patnaik, 2020. "Gender diversity and firm performance: evidence from India and Singapore," Applied Economics, Taylor & Francis Journals, vol. 52(14), pages 1553-1565, March.
    • Handle: RePEc:taf:applec:v:52:y:2020:i:14:p:1553-1565
    DOI: 10.1080/00036846.2019.1676872
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    Cited by:

    1. Katarina Gomoryova, 2024. "Female Leadership and Financial Performance: A Meta-Analysis," Working Papers IES 2024/6, Charles University Prague, Faculty of Social Sciences, Institute of Economic Studies, revised Jan 2024.
    2. Ploypailin Kijkasiwat & Anwar Hussain & Amna Mumtaz, 2022. "Corporate Governance, Firm Performance and Financial Leverage across Developed and Emerging Economies," Risks, MDPI, vol. 10(10), pages 1-20, September.
    3. Caroline Perrin & Laurent Weill, 2024. "Girls will be girls? The gendered effect of economic policy uncertainty on corporate investment," Applied Economics, Taylor & Francis Journals, vol. 56(9), pages 997-1011, February.
    4. Khan, Mushtaq Hussain & Fraz, Ahmad & Hassan, Arshad & Abedifar, Pejman, 2020. "Female board representation, risk-taking and performance: Evidence from dual banking systems," Finance Research Letters, Elsevier, vol. 37(C).
    5. Dorota Korenkiewicz & Wolfgang Maennig, 2024. "Impact of women on corporate boards of directors on product quality," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 28(3), pages 841-874, September.
    6. Nitesh Pandey & Satish Kumar & Corinne Post & John W. Goodell & Rebeca García-Ramos, 2023. "Board gender diversity and firm performance: A complexity theory perspective," Asia Pacific Journal of Management, Springer, vol. 40(3), pages 1289-1320, September.
    7. Safiullah, Md & Akhter, Tanzina & Saona, Paolo & Azad, Md. Abul Kalam, 2022. "Gender diversity on corporate boards, firm performance, and risk-taking: New evidence from Spain," Journal of Behavioral and Experimental Finance, Elsevier, vol. 35(C).
    8. Abir E. L. Telyani & Panteha Farmanesh & Pouya Zargar, 2022. "An Examination of the Relationship Between Levels Diversity-Organizational Performance: Does Innovative Culture Matter?," SAGE Open, , vol. 12(1), pages 21582440211, January.
    9. Joyce P. Jacobsen & Sooyoung A. Lee, 2024. "Firm Survival and Gender Composition of Employment: Evidence from Vietnam," Wesleyan Economics Working Papers 2024-009, Wesleyan University, Department of Economics.
    10. Usama Laique & Fahad Abdullah & Ijaz Ur Rehman & Bruno S. Sergi, 2023. "Two decades of research on board gender diversity and financial outcomes: Mapping heterogeneity and future research agenda," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 30(5), pages 2121-2144, September.

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