Board Gender Diversity and Financial Performance of Listed Deposit Money Banks

Abstract

In developing countries such as Nigeria, the role of women is minimized at the economic and social strata; thus limiting their contribution in the society. The main aim of this study is therefore to examine the effect of board gender diversity on financial performance of listed deposit money banks in Nigeria. The study sampled 12 listed deposit money banks and obtained data spanning from 2012 to 2022. The result of the regression analysis document that the proportion of female directors to total directors on the board has no significant negative effect on financial performance of listed deposit money banks in Nigeria while the presence of critical mass of female directors (at least three female directors) has a positive and significant effect on financial performance of listed deposit money banks in Nigeria. The study recommends for the inclusion and participation of more women on the corporate board of banks in order to ensure that their impact are more felt on their financial performance