<?xml version="1.0" encoding="UTF-8"?>
<!DOCTYPE article PUBLIC "-//NLM//DTD JATS (Z39.96) Journal Publishing DTD v1.4 20241031//EN"
        "https://jats.nlm.nih.gov/publishing/1.4/JATS-journalpublishing1-4.dtd">
<article  article-type="research-article"        dtd-version="1.4">
            <front>

                <journal-meta>
                                                                <journal-id>kaüi̇i̇bfd</journal-id>
            <journal-title-group>
                                                                                    <journal-title>Kafkas Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi</journal-title>
            </journal-title-group>
                            <issn pub-type="ppub">1309-4289</issn>
                                        <issn pub-type="epub">2149-9136</issn>
                                                                                            <publisher>
                    <publisher-name>Kafkas Üniversitesi</publisher-name>
                </publisher>
                    </journal-meta>
                <article-meta>
                                        <article-id pub-id-type="doi">10.36543/kauiibfd.2021.032</article-id>
                                                                                                                                                                                            <title-group>
                                                                                                                        <trans-title-group xml:lang="tr">
                                    <trans-title>DOES THE INCLUSION OF WOMEN ON THE BOARD ADD PROFIT AND VALUE ADDED TO FIRMS?</trans-title>
                                </trans-title-group>
                                                                                                                                                                                                <article-title>DOES THE INCLUSION OF WOMEN ON THE BOARD ADD PROFIT AND VALUE ADDED TO FIRMS?</article-title>
                                                                                                    </title-group>
            
                                                    <contrib-group content-type="authors">
                                                                        <contrib contrib-type="author">
                                                                    <contrib-id contrib-id-type="orcid">
                                        https://orcid.org/0000-0001-8956-5814</contrib-id>
                                                                <name>
                                    <surname>Yılmaz</surname>
                                    <given-names>Tuncer</given-names>
                                </name>
                                                                    <aff>KAFKAS ÜNİVERSİTESİ</aff>
                                                            </contrib>
                                                    <contrib contrib-type="author">
                                                                    <contrib-id contrib-id-type="orcid">
                                        https://orcid.org/0000-0001-5345-6245</contrib-id>
                                                                <name>
                                    <surname>Ağ</surname>
                                    <given-names>Alirıza</given-names>
                                </name>
                                                                    <aff>BAYBURT ÜNİVERSİTESİ</aff>
                                                            </contrib>
                                                    <contrib contrib-type="author">
                                                                    <contrib-id contrib-id-type="orcid">
                                        https://orcid.org/0000-0001-8381-6918</contrib-id>
                                                                <name>
                                    <surname>Zengin</surname>
                                    <given-names>Yunus</given-names>
                                </name>
                                                                    <aff>KAFKAS ÜNİVERSİTESİ</aff>
                                                            </contrib>
                                                                                </contrib-group>
                        
                                        <pub-date pub-type="pub" iso-8601-date="20211221">
                    <day>12</day>
                    <month>21</month>
                    <year>2021</year>
                </pub-date>
                                        <volume>12</volume>
                                        <issue>24</issue>
                                        <fpage>781</fpage>
                                        <lpage>809</lpage>
                        
                        <history>
                                    <date date-type="received" iso-8601-date="20210826">
                        <day>08</day>
                        <month>26</month>
                        <year>2021</year>
                    </date>
                                                    <date date-type="accepted" iso-8601-date="20211018">
                        <day>10</day>
                        <month>18</month>
                        <year>2021</year>
                    </date>
                            </history>
                                        <permissions>
                    <copyright-statement>Copyright © 2010, Kafkas Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi</copyright-statement>
                    <copyright-year>2010</copyright-year>
                    <copyright-holder>Kafkas Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi</copyright-holder>
                </permissions>
            
                                                                                                <trans-abstract xml:lang="tr">
                            <p>Türkiye’de aile şirketlerinin çoğunlukta olmasının ve toplum yapısında ataerkil yapının hâkim olmasının, şirket yönetimlerindeki kadın yöneticilerin etkinliğini azaltabileceği düşüncesinden yola çıkarak bu çalışmada, Borsa İstanbul (BIST) firmalarında kadın yöneticilerin firma performansı üzerindeki etkisini incelemek amaçlanmıştır. 2010-2017 döneminde BIST’te kesintisiz olarak işlem gören 126 imalat firmasını alarak çalışmamızı sınırlandırdık. Yapılan çoklu regresyon analizlerinde genel olarak şu sonuçlar elde edilmiştir. Yönetim kurulundaki kadın oranı ile yönetim kurulunda en az 1 kadın olmasının performans ölçütleri üzerinde etkisi anlamlı bulunmamıştır. Yönetim kurulunda 2 ve daha fazla kadın olmasının ROE, 3 ve daha fazla kadın bulunmasının EVA/TA üzerindeki etkisi anlamlı iken, diğer performans ölçütleri üzerindeki etkileri ise anlamlı bulunmamıştır.</p></trans-abstract>
                                                                                                                                    <abstract><p>Based on the idea that the majority of family companies and the dominance of patriarchy in the social structure in Turkey may reduce the effectiveness of female managers in company management, this study aims to examine the effect of female managers on firm performance in Borsa Istanbul (BIST) companies. We limited our study to 126 manufacturing companies that were continuously traded in the BIST in the 2010-2017 periods. In general, the following results were obtained in the multiple regression analyzes. The ratio of women in the board of directors and the presence of at least 1 woman in the board of directors were not found to have a significant effect on performance criteria. While the effect of having 2 or more women in the board of directors on ROE and having 3 or more women on EVA/TA was significant, the effects on other performance criteria were not found to be significant.</p></abstract>
                                                            
            
                                                                                        <kwd-group>
                                                    <kwd>Female Director</kwd>
                                                    <kwd>  Board of Directors</kwd>
                                                    <kwd>  Profit</kwd>
                                                    <kwd>  Value Added</kwd>
                                            </kwd-group>
                            
                                                <kwd-group xml:lang="tr">
                                                    <kwd>Kadın Yönetici</kwd>
                                                    <kwd>  Yönetim Kurulu</kwd>
                                                    <kwd>  Kâr</kwd>
                                                    <kwd>  Katma Değer</kwd>
                                            </kwd-group>
                                                                                                                                        </article-meta>
    </front>
    <back>
                            <ref-list>
                                    <ref id="ref1">
                        <label>1</label>
                        <mixed-citation publication-type="journal">Adams, R. B., &amp; Ferreira, D. (2009). Women in the boardroom and their impact on governance and performance. Journal of Financial Economics, 94(2), 291-309.</mixed-citation>
                    </ref>
                                    <ref id="ref2">
                        <label>2</label>
                        <mixed-citation publication-type="journal">Akpinar Sposito, C. (2013). Career barriers for women executives and the glass ceiling syndrome: The case study comparison between French and Turkish women executives. Procedia-Social and Behavioral Sciences, 75, 488-497.</mixed-citation>
                    </ref>
                                    <ref id="ref3">
                        <label>3</label>
                        <mixed-citation publication-type="journal">Aktan, C. C. (2013). Kurumsal şirket yönetimi. Organizasyon Ve Yönetim Bilimleri Dergisi, 5(1), 150-161.</mixed-citation>
                    </ref>
                                    <ref id="ref4">
                        <label>4</label>
                        <mixed-citation publication-type="journal">Anderson, R. C., &amp; Reeb, D. M. (2004). Board composition: Balancing family influence in S&amp;P 500 firms. Administrative Science Quarterly, 49(2), 209-237.</mixed-citation>
                    </ref>
                                    <ref id="ref5">
                        <label>5</label>
                        <mixed-citation publication-type="journal">Arioglu, E. (2014). Demographic diversity in the boardroom: Evidence from Borsa İstanbul. Research Journal of Business and Management, 2(1), 18-36.</mixed-citation>
                    </ref>
                                    <ref id="ref6">
                        <label>6</label>
                        <mixed-citation publication-type="journal">Arosa, B., Iturralde, T. &amp; Maseda, A. (2010). Outsiders on the board of directors and firm performance: Evidence from Spanish non-listed family firms. Journal of Family Business Strategy, 1(4), 236-245.</mixed-citation>
                    </ref>
                                    <ref id="ref7">
                        <label>7</label>
                        <mixed-citation publication-type="journal">Arslantaş, C.C. (2012). Kurumsal yönetimin yönetim kuruluna yansımaları (1.b). İstanbul: Beta Yayıncılık.</mixed-citation>
                    </ref>
                                    <ref id="ref8">
                        <label>8</label>
                        <mixed-citation publication-type="journal">Aslantaş, M.F., &amp; Yılmaz, T. (2020). Finansal performans araştırmalarında güncel yaklaşımlar. B. Güngör ve C. 
Yerdelen Kaygın (Ed.). Covid-19 döneminde kamu sermayeli mevduat bankalarının finansal performansları üzerine bir inceleme (327-349). Ankara: Nobel Yayıncılık.</mixed-citation>
                    </ref>
                                    <ref id="ref9">
                        <label>9</label>
                        <mixed-citation publication-type="journal">Atılgan, Ö. (2017). Yönetim kurulu büyüklüğü, bağımsız üye oranı ve kadın üye oranı ile finansal performans ilişkisi. Dokuz Eylül Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi, 32(2), 315-354.</mixed-citation>
                    </ref>
                                    <ref id="ref10">
                        <label>10</label>
                        <mixed-citation publication-type="journal">Balasubramanian, B.N., &amp; Anand, R.V. (2013). Ownership trends in corporate India 2001-2011: Evidence and implications. IIM Bangalore Research Paper No. 419, 1-91.</mixed-citation>
                    </ref>
                                    <ref id="ref11">
                        <label>11</label>
                        <mixed-citation publication-type="journal">Buallay, A., Hamdan, R., Barone, E., &amp; Hamdan, A. (2020). Increasing female participation on boards: Effects on sustainability reporting. International J Fin &amp; Econ, 1-14.</mixed-citation>
                    </ref>
                                    <ref id="ref12">
                        <label>12</label>
                        <mixed-citation publication-type="journal">Çalışkan A. (2017). Yönetim ve strateji 101 teori ve yaklaşım. Ömer Turunç ve Hakan Turgut (Ed.).  Kaynak bağımlılığı teorisi (221-269). Ankara: Siyasal Kitabevi.</mixed-citation>
                    </ref>
                                    <ref id="ref13">
                        <label>13</label>
                        <mixed-citation publication-type="journal">Campbell, K., &amp; Vera, A. M. (2010). Female board appointments and firm valuation: Short and long-term effects. Journal of Management &amp; Governance, 14(1), 37-59.</mixed-citation>
                    </ref>
                                    <ref id="ref14">
                        <label>14</label>
                        <mixed-citation publication-type="journal">Carter, D. A., D’Souza, F., Simkins, B. J., &amp; Simpson, W. G. (2010). The gender and ethnic diversity of us boards and board committees and firm financial performance. Corporate Governance: An International Review, 18(5), 396-414.</mixed-citation>
                    </ref>
                                    <ref id="ref15">
                        <label>15</label>
                        <mixed-citation publication-type="journal">Chapple, L., &amp; Humphrey, J. E. (2014). Does board gender diversity have a financial impact? Evidence using stock portfolio performance. Journal of Business Ethics, 122(4), 709-723.</mixed-citation>
                    </ref>
                                    <ref id="ref16">
                        <label>16</label>
                        <mixed-citation publication-type="journal">Chauhan, Y., &amp; Dey, D. K. (2017). Do female directors really add value in Indian firms?. Journal of Multinational Financial Management, 42, 24-36.</mixed-citation>
                    </ref>
                                    <ref id="ref17">
                        <label>17</label>
                        <mixed-citation publication-type="journal">Conyon, M. J., &amp; He, L. (2017). Firm performance and boardroom gender diversity: A quantile regression approach. Journal of Business Research, 79, 198-211.</mixed-citation>
                    </ref>
                                    <ref id="ref18">
                        <label>18</label>
                        <mixed-citation publication-type="journal">Dargnies, M.P. (2012). Men too sometimes shy away from competition: The case of team competition. Management Science, 58(11), 1982-2000.</mixed-citation>
                    </ref>
                                    <ref id="ref19">
                        <label>19</label>
                        <mixed-citation publication-type="journal">Darmadı S. (2010). Board diversity and firm performance: The Indonesian evidence. Corporate Ownership and Control Journal, 8, 1627-1637.</mixed-citation>
                    </ref>
                                    <ref id="ref20">
                        <label>20</label>
                        <mixed-citation publication-type="journal">De Andres, P., Azofra, V., &amp; Lopez, F. (2005). Corporate boards in OECD countries: Size, composition, functioning and effectiveness. Corporate governance: An International Review, 13(2), 197-210.</mixed-citation>
                    </ref>
                                    <ref id="ref21">
                        <label>21</label>
                        <mixed-citation publication-type="journal">Doğan, M. (2018). Kadın yönetim kurulu üye sayısının finansal performans üzerinde etkisi: Literatür taraması. Uluslararası Yönetim Akademisi Dergisi, 1(2), 132-141.</mixed-citation>
                    </ref>
                                    <ref id="ref22">
                        <label>22</label>
                        <mixed-citation publication-type="journal">Ertimur, Y., Ferri, F., &amp; Stubben, S. R. (2010). Board of directors&#039; responsiveness to shareholders: Evidence from shareholder proposals. Journal of Corporate Finance, 16(1), 53-72.</mixed-citation>
                    </ref>
                                    <ref id="ref23">
                        <label>23</label>
                        <mixed-citation publication-type="journal">Farrell, K. A., &amp; Hersch, P. L. (2005). Additions to corporate boards: The effect of gender. Journal of Corporate Finance, 11(1-2), 85-106.</mixed-citation>
                    </ref>
                                    <ref id="ref24">
                        <label>24</label>
                        <mixed-citation publication-type="journal">Francoeur, C., Labelle, R., &amp; Sinclair-Desgagné, B., (2008). Gender diversity in corporate governance and top management. Journal of Business Ethics, 81(1), 83-95.</mixed-citation>
                    </ref>
                                    <ref id="ref25">
                        <label>25</label>
                        <mixed-citation publication-type="journal">García Meca, E., García-Sánchez, I. M., &amp; Martínez-Ferrero, J. (2015). Board diversity and its effects on bank performance: An international analysis. Journal of Banking &amp; Finance, 53, 202-214.</mixed-citation>
                    </ref>
                                    <ref id="ref26">
                        <label>26</label>
                        <mixed-citation publication-type="journal">Ghosh, S., &amp; Ansari, J. (2018). Board characteristics and financial performance: Evidence from Indian cooperative banks. Journal of Co-operative Organization and Management, 6(2), 86-93.</mixed-citation>
                    </ref>
                                    <ref id="ref27">
                        <label>27</label>
                        <mixed-citation publication-type="journal">Green, C. P., &amp; Homroy, S. (2018). Female directors, board committees and firm performance. European Economic Review, 102, 19-38.</mixed-citation>
                    </ref>
                                    <ref id="ref28">
                        <label>28</label>
                        <mixed-citation publication-type="journal">Hillman, A. J., Cannella, A. A., &amp; Paetzold, R. L. (2000). The resource dependence role of corporate directors: Strategic adaptation of board composition in response to environmental change. Journal of Management studies, 37(2), 235-256.</mixed-citation>
                    </ref>
                                    <ref id="ref29">
                        <label>29</label>
                        <mixed-citation publication-type="journal">Horasan, E. &amp; Yılmaz, T. (2019). Türk imalat şirketlerinde piyasa katma değerini (mva) açıklayan ekonomik katma değer (EVA) mi yoksa kârlılık mı?. Balıkesir Üniversitesi Sosyal Bilimler Enstitüsü Dergisi, 22(41), 295-315.</mixed-citation>
                    </ref>
                                    <ref id="ref30">
                        <label>30</label>
                        <mixed-citation publication-type="journal">Hsu H.H, &amp; Wu C.Y.H. (2014). Board composition, grey directors and corporate failure in the UK. Br Account Rev, 46, 215-227.</mixed-citation>
                    </ref>
                                    <ref id="ref31">
                        <label>31</label>
                        <mixed-citation publication-type="journal">Jermias, J., &amp; Gani, L. (2014). The impact of board capital and board characteristics on firm performance. The British Accounting Review, 46(2), 135-153.</mixed-citation>
                    </ref>
                                    <ref id="ref32">
                        <label>32</label>
                        <mixed-citation publication-type="journal">Julizaerma, M. K., &amp; Sori, Z. M. (2012). Gender diversity in the boardroom and firm performance of Malaysian public listed companies. Procedia-Social and Behavioral Sciences, 65, 1077-1085.</mixed-citation>
                    </ref>
                                    <ref id="ref33">
                        <label>33</label>
                        <mixed-citation publication-type="journal">Jurkus, A. F., Park, J. C., &amp; Woodard, L. S. (2011). Women in top management and agency costs. Journal of Business Research, 64(2), 180-186.</mixed-citation>
                    </ref>
                                    <ref id="ref34">
                        <label>34</label>
                        <mixed-citation publication-type="journal">Kalkınma Bakanlığı (2018). Kadının kalkınmadaki rolü, on birinci kalkınma planı (2019-2023). Özel İhtisas Komisyonu Raporu. Ankara. https://www.sbb.gov.tr/wp-content/uploads/2020/04/KadininKalkinmadakiRoluOzelIhtisasKomisyonuRaporu.pdf.</mixed-citation>
                    </ref>
                                    <ref id="ref35">
                        <label>35</label>
                        <mixed-citation publication-type="journal">Karabıyık, İ. (2015). Türkiye&#039;de çalışma hayatında kadın istihdamı. Marmara Üniversitesi İktisadi ve İdari Bilimler Dergisi, 32(1), 231-260.</mixed-citation>
                    </ref>
                                    <ref id="ref36">
                        <label>36</label>
                        <mixed-citation publication-type="journal">Karatepe, S., &amp; Arıbaş, N. (2015). İş hayatında kadın yöneticilere ilişkin cinsiyet ayrımcılığı: Türkiye için bir değerlendirme. Yasama Dergisi, 31, 7-23.</mixed-citation>
                    </ref>
                                    <ref id="ref37">
                        <label>37</label>
                        <mixed-citation publication-type="journal">Karayel M., &amp; Doğan M. (2014), Yönetim kurulunda cinsiyet çeşitliliği ve finansal performans ilişkisi: BIST 100 şirketlerinde bir araştırma. Süleyman Demirel Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi, 19(2), 75-88.</mixed-citation>
                    </ref>
                                    <ref id="ref38">
                        <label>38</label>
                        <mixed-citation publication-type="journal">Kolade, O. J., &amp; Kehinde, O. (2013). Glass ceiling and women career advancement: Evidence from Nigerian construction industry. Iranian Journal of Management Studies (IJMS), 6(1), 77-97.</mixed-citation>
                    </ref>
                                    <ref id="ref39">
                        <label>39</label>
                        <mixed-citation publication-type="journal">Kouaib, A., Mhiri, S., &amp; Jarboui, A. (2020). Board of directors’ effectiveness and sustainable performance: The triple bottom line. The Journal of High Technology Management Research, 31(2), 1-11.</mixed-citation>
                    </ref>
                                    <ref id="ref40">
                        <label>40</label>
                        <mixed-citation publication-type="journal">Lanis, R., &amp; Richardson, G. (2011). The effect of board of director composition on corporate tax aggressiveness. Journal of Accounting and Public Policy, 30(1), 50-70.</mixed-citation>
                    </ref>
                                    <ref id="ref41">
                        <label>41</label>
                        <mixed-citation publication-type="journal">Liu, Y., Wei, Z., &amp; Xie, F. (2014). Do women directors improve firm performance in China? Journal of Corporate Finance, 28, 169-184.</mixed-citation>
                    </ref>
                                    <ref id="ref42">
                        <label>42</label>
                        <mixed-citation publication-type="journal">Low, D. C., Roberts, H., &amp; Whiting, R. H. (2015). Board gender diversity and firm performance: Empirical evidence from Hong Kong, South Korea, Malaysia and Singapore. Pacific-Basin Finance Journal, 35, 381-401.</mixed-citation>
                    </ref>
                                    <ref id="ref43">
                        <label>43</label>
                        <mixed-citation publication-type="journal">Meydan C. H. &amp; Basım, H. N. (2007). Kurumsal yönetim-şirket performansı ilişkisi: kuramsal bir analiz. Kara Harp Okulu Savunma Bilimleri Dergisi, 6(2), 48-67.</mixed-citation>
                    </ref>
                                    <ref id="ref44">
                        <label>44</label>
                        <mixed-citation publication-type="journal">Mordi, C., Adedoyin, H., &amp; Ajonbadi, H. (2011). Impediments to women career advancement: The Nigerian experience. Petroleum-Gas University of Ploiesti: Bulletin, Economic Sciences Series, 43(2), 11-22.</mixed-citation>
                    </ref>
                                    <ref id="ref45">
                        <label>45</label>
                        <mixed-citation publication-type="journal">Ocak, M. (2013). Yönetim kurulu ve üst yönetimde yer alan kadınların finansal performansa etkisi: Türkiye&#039;ye ilişkin bulgular. Muhasebe ve Finansman Dergisi, 60, 107-126.</mixed-citation>
                    </ref>
                                    <ref id="ref46">
                        <label>46</label>
                        <mixed-citation publication-type="journal">Otluoglu, E., Sari, E., &amp; Cakmak, K. O. (2016). Yönetim kurulu çeşitliliğinin finansal performansa etkisi: BIST 100 üzerine bir araştırma. Uluslararası Sosyal Araştırmalar Dergisi, 9(46), 749-758.</mixed-citation>
                    </ref>
                                    <ref id="ref47">
                        <label>47</label>
                        <mixed-citation publication-type="journal">Owen, A. L., &amp; Temesvary, J. (2018). The performance effects of gender diversity on bank boards. Journal of Banking &amp; Finance, 90, 50-63.</mixed-citation>
                    </ref>
                                    <ref id="ref48">
                        <label>48</label>
                        <mixed-citation publication-type="journal">Özen, A.K. ve Yılmaz, T. (2016). Bağımlı ve bağımsız yönetim kurulu üyelerinin işletmenin finansal performansına etkisi. Akademik Bakış Uluslararası Hakemli Sosyal Bilimler Dergisi, 58, 455-471.</mixed-citation>
                    </ref>
                                    <ref id="ref49">
                        <label>49</label>
                        <mixed-citation publication-type="journal">Post, C., &amp; Byron, K. (2015). Women on boards and firm financial performance: A meta-analysis. Academy of Management Journal, 58(5), 1546-1571.</mixed-citation>
                    </ref>
                                    <ref id="ref50">
                        <label>50</label>
                        <mixed-citation publication-type="journal">Pucheta Martínez, M. C., &amp; Gallego Álvarez, I. (2020). Do board characteristics drive firm performance? An international perspective. Review of Managerial Science, 14(6), 1251-1297.</mixed-citation>
                    </ref>
                                    <ref id="ref51">
                        <label>51</label>
                        <mixed-citation publication-type="journal">Rao, K. K., &amp; Tilt, C. (2020). Gender and CSR decisions: perspectives from Australian boards. Meditari Accountancy Research. 19(1), 60-85.</mixed-citation>
                    </ref>
                                    <ref id="ref52">
                        <label>52</label>
                        <mixed-citation publication-type="journal">Şahin, K., Burçin, E., Kaplan, T., &amp; Özdündar, G. (2018). Yönetim kurullarında kadın yönetici temsili: Türkiye’de yönetim kurulları yapısının cinsiyet bağlamında incelenmesi. Uluslararası Yönetim İktisat ve İşletme Dergisi, 14(4), 1147-1166.</mixed-citation>
                    </ref>
                                    <ref id="ref53">
                        <label>53</label>
                        <mixed-citation publication-type="journal">Shoham, A., Lee, S. M., Khan, Z., Tarba, S. Y., &amp; Ahammad, M. F. (2020). The effect of board gender diversity on cross-listing. Journal of Corporate Finance, 65, 1-31.</mixed-citation>
                    </ref>
                                    <ref id="ref54">
                        <label>54</label>
                        <mixed-citation publication-type="journal">Smith, N., Smith, V., &amp; Verner, M. (2006). Do women in top management affect firm performance? A panel study of 2,500 Danish firms. International Journal of Productivity and Performance Management, 55, 569-593.</mixed-citation>
                    </ref>
                                    <ref id="ref55">
                        <label>55</label>
                        <mixed-citation publication-type="journal">Talavera, O., Yin, S., &amp; Zhang, M. (2018). Age diversity, directors&#039; personal values, and bank performance. International Review of Financial Analysis, 55, 60-79.</mixed-citation>
                    </ref>
                                    <ref id="ref56">
                        <label>56</label>
                        <mixed-citation publication-type="journal">Tasheva, S., &amp; Hillman, A. J. (2019). Integrating diversity at different levels: Multilevel human capital, social capital, and demographic diversity and their implications for team effectiveness. Academy of Management Review, 44(4), 746-765.</mixed-citation>
                    </ref>
                                    <ref id="ref57">
                        <label>57</label>
                        <mixed-citation publication-type="journal">Triana, M. D. C., Miller, T. L., &amp; Trzebiatowski, T. M. (2014). The double-edged nature of board gender diversity: Diversity, firm performance, and the power of women directors as predictors of strategic change. Organization Science, 25(2), 609-632.</mixed-citation>
                    </ref>
                                    <ref id="ref58">
                        <label>58</label>
                        <mixed-citation publication-type="journal">Tunç, A., Yurdanur U. U., &amp; Gökçe A.F. (2015). Türk kamu yönetiminde personel ve yönetici olarak kadının varlığı: Aile ve Sosyal Politikalar Bakanlığı örneği. KADAUM 1. Uluslararası Çukurova Kadın Çalışmaları Kongresi, 9-11 Nisan 2015 Adana.</mixed-citation>
                    </ref>
                                    <ref id="ref59">
                        <label>59</label>
                        <mixed-citation publication-type="journal">Wang, Y., &amp; Clift, B. (2009). Is there a “business case” for board diversity? Pacific Accounting Review, 22(2), 88-103.</mixed-citation>
                    </ref>
                                    <ref id="ref60">
                        <label>60</label>
                        <mixed-citation publication-type="journal">Wang, Y., Wilson, C., &amp; Li, Y. (2020). Gender attitudes and the effect of board gender diversity on corporate environmental responsibility. Emerging Markets Review, 1-17.</mixed-citation>
                    </ref>
                                    <ref id="ref61">
                        <label>61</label>
                        <mixed-citation publication-type="journal">Wiengarten, F., Lo, C. K., &amp; Lam, J. Y. (2017). How does sustainability leadership affect firm performance? The choices associated with appointing a chief officer of corporate social responsibility. Journal of Business Ethics, 140(3), 477-493.</mixed-citation>
                    </ref>
                            </ref-list>
                    </back>
    </article>
