Diverse Boards, Stronger Results? Gender Diversity on Boards and Firm Performance in Turkey

Yıl 2025, Cilt: 12 Sayı: 2, 519 - 527, 13.08.2025

Belgin Bahar , Elgiz Yılmaz Altuntaş

https://doi.org/10.26650/JEPR1716025

Öz

Board diversity has become a prominent topic of discussion within the realm of strategic management. This study specifically examines gender diversity as a key dimension of board heterogeneity. Notably, women remain under represented on corporate boards in general. In Turkey, the inclusion of women on corporate boards and efforts to enhance gender diversity are relatively recent developments. In 2012, for the first time in Turkey, the Capital Markets Board recommended that companies have at least one woman on their boards of directors. This study examines the effectiveness of Turkey’s first “soft law” quota concerning board gender diversity within the banking sector. Additionally, it investigates the relationship between gender diversity on corporate boards and firms’ financial performance (ROA). Using a large panel data of 12 banks from 2006 to 2018, we found a significant relationship between female representation on boards and ROA.

JEL Classification : J16 , G34 , M14

Anahtar Kelimeler

Female board representation , Financial performance , Board diversity , Corporate governance

Kaynakça

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