GENDER DIVERSITY AND FIRM FINANCIAL PERFORMANCE OF NIGERIAN LISTED BANKS: A MULTI THEORETIC APPROACH
Adamu Garba Zango
Volume 8 Issue 1
Abstract
This study investigates the predictive power of a board’s gender diversity on financial performance of Nigerian listed banks from 2014 to 2019 utilising secondary panel data analysis using STATA software version 10.0. This study carefully selects existing literature on the subject largely drawn from developed economies with very few non-financial studies from emerging markets. Tobin’s Q, (ROA) and (ROE) were employed as measures for financial performance while gender and ethnic diversity, board composition, director’s equity ownership and family controlled board were proxies for financial performance. The findings show that gender diversity have positive and significant impacts on financial performance while ethnic diversity, foreign directorship and directors equity holding had no impact. On board composition however, the study found board room size of 12 directors to increase financial performance beyond which performance decreases. The study recommends that in house and legislative arrangement be made to strike a fair gender balance in boardrooms of listed banks in Nigeria and recommend further research along this line. Keywords: Gender Diversity, Ethnicity, Board Composition, Listed Banks, Nigeria
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