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Sustainability of Financial Performance in Relation to Gender Diverse Boards: A Comparative Analysis of French and Romanian Listed Companies on Stock Exchanges

Author

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  • Anda Adelina Suciu

    (Ecole de Management de Normandie, 76600 Le Havre, France)

  • Dragoș Păun

    (Faculty of Business, Universitatea Babeș-Bolyai, 400084 Cluj-Napoca, Romania)

  • Florin Sebastian Duma

    (Faculty of European Studies, Universitatea Babeș-Bolyai, 400084 Cluj-Napoca, Romania)

Abstract

While the moral argument for gender diversity has already been made and is incontestable, and more and more economical arguments have been brought to support the business case for the presence of women on the boards of directors of publicly listed companies, the bottom-line issue of what kind of impact gender diverse boards have on firm financial performance is still unclear. The aim of this paper is to deliver a comparative analysis of the impact of gender diverse boards on firm financial performance in France and Romania. Our results do not to provide any evidence of a link between boards’ gender diversity and companies’ financial performance, but while the analysis has failed to find a positive link between female presence and firm financial performance, it has not outlined a negative one.

Suggested Citation

  • Anda Adelina Suciu & Dragoș Păun & Florin Sebastian Duma, 2021. "Sustainability of Financial Performance in Relation to Gender Diverse Boards: A Comparative Analysis of French and Romanian Listed Companies on Stock Exchanges," Sustainability, MDPI, vol. 13(18), pages 1-20, September.
    • Handle: RePEc:gam:jsusta:v:13:y:2021:i:18:p:10282-:d:635628
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    References listed on IDEAS

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    1. Chengpeng Zhu & Muhammad Husnain & Saif Ullah & Muhammad Tasnim Khan & Waris Ali, 2022. "Gender Diversity and Firms’ Sustainable Performance: Moderating Role of CEO Duality in Emerging Equity Market," Sustainability, MDPI, vol. 14(12), pages 1-26, June.
    2. Raheel Mumtaz & Muhammad Farooq Rehan & Quaisar Ijaz Khan & Rubab Zaidi, 2021. "Board Gender Diversity, Firm Performance and Risk-Taking: The Case of Non-Financial Firms of Pakistan," iRASD Journal of Economics, International Research Alliance for Sustainable Development (iRASD), vol. 3(3), pages 354-367, December.

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