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Gender Diversity in the Boardroom and Firm Financial Performance: Evidence from Polish Listed Companies

Author

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  • Leszek Bohdanowicz

Abstract

New version of The Best Practices of WSE Listed Companies states that supervisory boards and management boards of Polish listed companies should balance proportion of women and men in management and supervisory functions, thus reinforcing the creativity and innovation of the companies’ economic business. It reflects present tendencies, which reinforce women presence on corporate boards. They also encourage empirical research, which try to verify relationship between gender diversity in the boardroom and companies efficiency. This study is also engaged in it. Its main aim is to determine the relationship between gender diversity of the supervisory and management boards and firm financial performance of Polish listed companies. To determine it I employed panel data analysis and the least squares with group and period effects model. It allowed me to confirm that gender diversity of the supervisory boards affects accounting measures of performance (ROA and ROE). But there was no relationship between gender diversity and market measure of performance (TSR). Moreover, there was no relationship between gender diversity of the management boards and firm financial performance.

Suggested Citation

  • Leszek Bohdanowicz, 2011. "Gender Diversity in the Boardroom and Firm Financial Performance: Evidence from Polish Listed Companies," Acta Universitatis Nicolai Copernici, Ekonomia, Uniwersytet Mikolaja Kopernika, vol. 42, pages 105-118.
    • Handle: RePEc:cpn:umkanc:2011:p:105-118
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