The purpose of this paper is to analyse the corporate governance theories and investigate the business case for gender diversity on corporate boards from the perspective of corporate governance theories. Extant literature on the topics of gender equality, corporate governance, corporate governance theories, women on corporate boards and their impact on governance and organisations has been reviewed and analysed to find support for the gender diversity on corporate boards. Most of the corporate governance theories support the business case for gender diversity on boards. Agency theory, stewardship theory, stakeholders theory, and resource dependency theory elucidate why presence of women directors on boards is good for business.Women directors are equivalent to independent directors, increase effectiveness of boards, improve firm performance and take care of the stakeholders' interest. Higher representation of women on boards brings value to the boards as well as organisation. Organisation should focus on the strategies to make corporate boards more gender diverse. This paper discusses the issues of gender equality, women empowerment and gender diversity on boards. It adds to the corporate governance literature by explaining and analysing corporate governance theories to explicate the business case for gender diversity on boards
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