University of Twente Student Theses
Boardroom gender diversity and firm performance: Evidence from publicly listed companies in the Benelux.
Smit, C.T. (2025) Boardroom gender diversity and firm performance: Evidence from publicly listed companies in the Benelux.
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| Abstract: | This thesis investigates the relationship between gender diversity in boardrooms and financial performance in publicly listed companies in the Benelux. Although, there are plenty of studies that focus on the relationship between gender diversity of boardrooms and a firms financial performance, a clear study focussed on the Benelux is not present. This thesis aims for further expand using existing research by assessing the effect of gender diversity in boardrooms of Benelux publicly listed companies. This thesis analyses data containing 1,480 firm-year observations over a time period of 2014 to 2023, in which it measures financial performance through Tobin’s Q and Return on Assets (ROA). A panel data regression analysis is used to examine the impact of female board representation on firm performance. The results offer empirical insight into how female representation on boards correlates with firm performance and shows inconclusive results, based on the sample data. The results present deviating evidence, no statistically significant relationship was found between female representation in boardrooms and ROA (accounting based performance measurement), but a positive relationship was seen with Tobin’s Q (market based performance measurement). |
| Item Type: | Essay (Master) |
| Faculty: | BMS: Behavioural, Management and Social Sciences |
| Subject: | 85 business administration, organizational science |
| Programme: | Business Administration MSc (60644) |
| Link to this item: | https://purl.utwente.nl/essays/106503 |
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