“…In fact, the impact of gender diversity on bank profitability and bank stability is still ambiguous (García-Meca et al, 2014). While a number of studies suggest a positive relationship between gender diversity and a well-functioning board that contributes to the organization success (Ward, Wylie & Hamill, 2011), the contributions of women leaders are being challenged under some certain circumstances (Adams & Ferreira, 2009, Sumbul Sajjad, 2015, such as the time period of the studies, countries, economic environment, regulatory and governance structures, culture, and size of capital markets (Rhode & Packel, 2014;Nkuutu et. al, 2020).…”