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Gender diversity in boardrooms – A literature review

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  • Sudheer Reddy
  • Aditya Mohan Jadhav

Abstract

This paper examines the advancement of literature on gender diversity on corporate boards (board gender diversity). We discuss important management theories cited in the literature and examine the factors that affect board gender diversity. We present evidence from developed and emerging markets based on a review of studies to show how board gender diversity impacts a firm performance. We also review growing literature on the gender quota legislation that mandates the appointment of female director(s) on corporate boards. Research on board gender diversity reveals director characteristics, firm size, board size, board diversity, industry, type of ownership, customer base, and social and cultural characteristics as the factors that influence representation of female directors on corporate boards. Studies on the impact of board gender diversity on firm performance present inconclusive results. In a similar vein, studies on the impact of gender quota legislation on firm performance also present mixed results. Our study contributes to the growing literature on board gender diversity and provides a further understanding of factors that influence gender diversity on corporate boards. It also offers insights to regulators on potential limitations and the benefits of gender quota legislation.

Suggested Citation

  • Sudheer Reddy & Aditya Mohan Jadhav, 2019. "Gender diversity in boardrooms – A literature review," Cogent Economics & Finance, Taylor & Francis Journals, vol. 7(1), pages 1644703-164, January.
    • Handle: RePEc:taf:oaefxx:v:7:y:2019:i:1:p:1644703
    DOI: 10.1080/23322039.2019.1644703
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    Citations

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    Cited by:

    1. María José Ibáñez & Felipe Vásquez Lavin & Roberto D. Ponce Oliva, 2023. "Female Underperformance Hypothesis Revisited: Methodological Review and Empirical Testing," SAGE Open, , vol. 13(4), pages 21582440231, December.
    2. Luong, Hoa & Khedmati, Mehdi & Nguyen, Lan Anh & Nigmonov, Asror & Ovi, Nafisa Zabeen & Shams, Syed, 2023. "CEO-director ties and board gender diversity: US evidence," Journal of Behavioral and Experimental Finance, Elsevier, vol. 40(C).
    3. 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.
    4. Merlin Stein, 2022. "When are large female-led firms more resilient against shocks? Learnings from Indian enterprises during COVID-19 with diff-in-diff and causal forests," CSAE Working Paper Series 2022-01, Centre for the Study of African Economies, University of Oxford.
    5. Anaïs Périlleux & Ariane Szafarz, 2022. "Women in the boardroom: a bottom–up approach to the trickle-down effect," Small Business Economics, Springer, vol. 58(4), pages 1783-1800, April.
    6. Nguyen, Thi Hong Hanh & Ntim, Collins G. & Malagila, John K., 2020. "Women on corporate boards and corporate financial and non-financial performance: A systematic literature review and future research agenda," International Review of Financial Analysis, Elsevier, vol. 71(C).
    7. Hanen Khemakhem & Manel Maalej, 2024. "The gender gap: what about board members’ perspective?," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 28(2), pages 483-506, June.
    8. Waseem Subhani & Ali Amin & Muhammad Azeem Naz & Nasir Sultan & Sumaira Aslam, 2024. "Board Gender Diversity and Firm Value: A Case of PSX," Bulletin of Business and Economics (BBE), Research Foundation for Humanity (RFH), vol. 13(1), pages 237-245.
    9. Jannati, Sima, 2024. "The ripple effect of all-star females: Knowledge spillover and improved analyst performance," Journal of Empirical Finance, Elsevier, vol. 77(C).
    10. Yannis Galanakis & Amanda Gosling, 2024. "Mind the (Gender Pay) Gap - The role of Board Gender Composition," Working Papers 045, The Productivity Institute.
    11. Mariasole Bannò & Emilia Filippi, 2024. "Women in top echelon positions and firm internationalisation strategies: What do we know? How do we know? Where should we be heading?," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 28(4), pages 1257-1302, December.

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