Board Gender Diversity, Audit Committee and Financial Performance: Evidence from Nigeria
This paper considers the effects of female representation and the proportion of female representation on corporate boards and audit committees on financial performance in an African context where institutions are weak. Employing a panel of 77 firms, our results show that female board representation exerts a positive and significant influence on firm financial performance. The study also finds that the performance effect of gender diversity is stronger for firms with two or more female directors, suggesting that building a critical mass of female representation enhances firm financial performance. Further analysis indicates that the inclusion of females on the audit committee appears to have a positive impact on firm financial performance. Our results are robust after controlling for endogeneity and the use of alternative measures of board gender diversity.
The file attached to this record is the author's final peer reviewed version. The Publisher's final version can be found by following the DOI link.
Citation : Chijoke-Mgbame, M., Boateng, A. and Mgbame, C. O. (2020) Board Gender Diversity, Audit Committee and Financial Performance: Evidence from Nigeria. Accounting Forum,
Research Institute : Finance and Banking Research Group (FiBRe)
Peer Reviewed : Yes