Year of Graduation
Gender Diversity of the Board of Directors and its Impact on the Firm Performance in Russia
This study empirically analyzes the impact of the gender diversity of the board of directors on the performance of the company. Using a sample of 84 Russian public companies for 2004-2015, I found that the presence of women on the board of directors has a significant positive impact on the performance of the company in case of using ROA as a measure of performance. However, in case of measuring performance in a market-based manner using the Q-Tobin ratio, the presence of women has a significant negative impact. The model also revealed the positive joint influence of women and independent directors in the case of a market measurement of performance. In addition, in the course of the study, I found that the presence of two or more women on the board had a negative impact on the company's market performance.