This study aims to provide a comprehensive systematic literature review (SLR) on the relationship between board gender diversity and firm performance. The objective is to synthesize existing research, identify key findings, highlight research gaps and propose directions for future research.
The review follows the Preferred Reporting Items for Systematic Reviews and Meta-Analyses methodology. Using the Scopus database, 132 relevant journal articles were identified after applying multiple filters and manual screenings. Content analysis was conducted on the top 100 most influential papers, ranked by their total citation counts, with a focus on variables and proxies for board gender diversity and firm performance, research methods and key empirical results.
The analysis reveals that 59% of the top 100 influential papers report a positive relationship between board gender diversity and firm performance. Key variables, methodologies and theories used in this research stream are highlighted. The review also identifies significant gaps in the existing literature, including limited exploration of regional and industry-specific dynamics, and provides directions for future research.
The findings have policy implications for corporate governance, offering insights for regulators and policymakers in designing strategies to enhance board gender diversity and optimize its impact on firm performance.
This study contributes by offering a systematic literature review, including detailed citation and content analysis of the most influential research on board gender diversity and firm performance, providing a valuable resource for academics, practitioners and policymakers.
