Boards’ Gender Mix as a Predictor of Financial Performance in Nigeria: An Empirical Study

Victor Chiedu Oba, Musa Inuwa Fodio


This study investigates the predicting power of a board’s gender mix on financial performance by using a cross sectional data analysis. Existing literature on this subject is scanty in emerging economies and to the best of the authors’ knowledge; this is the first of its kind in the Nigerian context. Return on capital employed was utilized as measure for financial performance while female director presence and proportion of female directors were proxies for gender mix. The findings show that both female director presence and proportion have positive impacts on financial performance while the board size, a control variable had a neutral effect. The study recommends that managerial and legislative efforts be made to strike a fair gender balance in boards and further research be carried out along this line.

Full Text:



Copyright (c)

International Journal of Economics and Finance  ISSN  1916-971X (Print) ISSN  1916-9728 (Online)  Email:

Copyright © Canadian Center of Science and Education

To make sure that you can receive messages from us, please add the '' domain to your e-mail 'safe list'. If you do not receive e-mail in your 'inbox', check your 'bulk mail' or 'junk mail' folders.