Board Gender Diversity and Financial Performance of Listed Deposit Money Banks

Keywords: board gender diversity, financial performance, deposit money banks.

In developing countries such as Nigeria, the role of women is minimized at the economic and

social strata; thus limiting their contribution in the society. The main aim of this study is

therefore to examine the effect of board gender diversity on financial performance of listed

deposit money banks in Nigeria. The study sampled 12 listed deposit money banks and

obtained data spanning from 2012 to 2022. The result of the regression analysis document

that the proportion of female directors to total directors on the board has no significant

negative effect on financial performance of listed deposit money banks in Nigeria while the

presence of critical mass of female directors (at least three female directors) has a positive

and significant effect on financial performance of listed deposit money banks in Nigeria. The

study recommends for the inclusion and participation of more women on the corporate board

of banks in order to ensure that their impact are more felt on their financial performance.