Women on Boards and Market Performance: An Exploratory Study on the Listed Companies

The lack of women participation on boards becomes an important issue recently which in turn reflects gender diversity in the top management. This study attempts to examine the effect of gender diversity among corporate boards on market value. Theoretical framework is specially designed using concepts, measures and models. A total sample of large 565 companies is considered based on their market capitalization. The largest sectors are trading/services, finance and industrial products. This study incorporates descriptive statistics, ANOVA, correlation testing and regression analysis. The results indicate that women participation does have a relationship with increasing market value.