ROA = return on assets; EVT = enterprise value; GD_04 = proportion of female directors sitting on the board; GD_05 = proportion of male directors sitting on the board; GD_07 = proportion of female executive directors sitting on the board; FI_02 = percentage of independent non-executive women directors on board; CR = current ratio; GW = growth opportunities; PB = price to book ratio; SIZE = is the company size; AGE = number of years of the company since its incorporation