Women on corporate boards and firm financial performance: Empirical evidence from a multi‐country in Asia

Abstract

The purpose of this research is to investigate the relationship between board gender diversity in management teams and financial performance of Asian firms in the transportation and logistics industry. To fulfill the research objectives, a total of 444 firm‐year observations operating in various nations of the Asia region from 2017 to 2020 were used in this present study, which was done by adopting the panel data regression approach. Results from a study demonstrate that the presence of female board members in the management structure will have a positive effect on financial performance of Asian firms in the sector of transportation and logistics at a certain level. Finally, our findings contribute to proposing some governance recommendations to enhance the presence and role of women in management positions in a firm's organizational structure in particular, while also promoting firm performance in the transportation and logistics industry in general.