The impact of gender diversity in board on corporate performance: empirical evidence from listed companies in Sri Lanka

Abstract

Gender balance in corporate board is an emerging phenomenon in Corporate Governance Initiatives. According to that, the objective this study to explore the nexus between women participation and firm performance of public listed companies in Sri Lanka. This research based on positivistic paradigm with the quantitative methodology. Secondary data were collected and analyzed using panel data. Analyze techniques to obtain quantitative measures of descriptive statistics and regression analyses. The results depict that women participation significantly impact the firm performance of public listed companies in Sri Lanka. The results show that firms with women directors perform better than those without women on their boards. This finding concludes that adequate women proportion is a pivot element in Sri Lankan listed companies’ corporate board composition. This evidence provides insight for regulators, practitioners, management of corporate boards and existing and potential investors of vital role of women in corporate board. This study extends the extant research on women participation in corporate board and firm performance by adopting prominent research design and modernized data. This study offers evidence on how selected women participation variables influence firm performance.