Does Gender Diversity in the Boardrooms Affect Firm Value? The Moderating Effect of Firm Size
摘要
This paper investigates the influence of board gender diversity (BGD) on firm value with the moderating effect of firm size. The study uses content analysis and therefore data was collected form the annual reports of firms listed on the Palestine Exchange between 2016 and 2023. Random Effects regression is used to examine the influence of BGD on company value and the moderating effect of company size. The findings reveal that BGD has a negative and significant effect on company value. Furthermore, the results suggest that firm size moderates the relationship between BGD and firm value only when Tobin’s Q is used as a measure of company value. This study is one of the very limited studies that considers the moderating effect of firm size on the connection between BGD and firm value. This paper highlights the role of women’s board participation in impacting board decisions and firm value. The findings have policy implications for stakeholders and regulators as they highlight the importance of BGD for boards and company value.