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The effect of gender diversity on the financial performance of firms: Evidence from the AEX

Wesselink, C.H. (2024) The effect of gender diversity on the financial performance of firms: Evidence from the AEX.

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Abstract:The current business landscape has warranted plentiful studies that explore the relationship between gender diversity on boards and firms’ financial performance. Yet, the diverse conclusions from these studies are as plentiful as the studies themselves. This paper expands on the existing research by investigating the effect of gender diversity on boards on financial performance of AEX-listed firms. The study analyses the firms for a period of 2013 until 2023, using regression analysis to find a relationship. The study equips both an accounting-based measure (ROE) and a market-based measure (Tobin’s Q) in its analysis. The findings reveal mixed results for the sample of 25 firms from the AEX index. The accounting-based measure reveals a significantly positive relation, while the market-based measure reveals no significant relation. Gender quotas that mandate a higher percentage of women on boards are approaching in the Netherlands. This study offers insights into the effects that these gender quotas can have. The mixed and inconclusive results warrant further investigation into the effects gender diversity has on firm performance.
Item Type:Essay (Bachelor)
Faculty:BMS: Behavioural, Management and Social Sciences
Subject:85 business administration, organizational science
Programme:International Business Administration BSc (50952)
Link to this item:https://purl.utwente.nl/essays/100212
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