The Impact of Board Gender Diversity on Firm Performance

Abstract

This study investigates the impact of board gender diversity, audit committee gender diversity, and CEO gender on firm performance. The sample includes 60 nonfinancial firms with 120 firm-year observations of Egyptian companies listed on the Egyptian Stock Exchange (Egx100) during 2018-2019 period. To test the research hypotheses, descriptive analysis and Mann Whitney U Test are used. Results show that firms with female representation on board have higher performance with its both perspectives (firm’s profitability and firm’s value). Also, it shows that female representation on audit committee have higher performance from only one perspective which is firm’s profitability. This result is not found when measuring firm’s performance using Tobin’s Q (firm’s value).