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The purpose of this article is to assess the impact of female board representation on financial performance in Southeast Asia. To compare the presence of women, three proxies are used: the percentage of women, the Blau Index, and the Shannon Index. The samples for five-year intervals (2017-2021) include 249 Southeast Asian enterprises and 1,245 observations. The Fixed Effect Model results show that, based on all three proxies, women's board participation leads to lower financial performance, which contradicts the Agency and Resource Dependence Theories. This document serves as a resource for regulators and stakeholders in developing effective and proper corporate governance, particularly in board compositions that need a proportion of women in Southeast Asia. The conclusions of this study may be impacted. 

The objective of this study is to ex?mine the imp?ct of profit?bility ?nd feminism of bo?rd of directors on corpor?te sust?in?bility perform?nce. This study ?lso investig?tes the role of independent bo?rd in moder?ting the rel?tionship between profit?bility ?nd feminism of bo?rd of directors on corpor?te sust?in?bility perform?nce. The ?n?lysis of this study use moder?ted regression ?n?lysis with b?l?nced p?nel d?t?. The s?mple consists of 51 firms, b?sed on purposive s?mpling method. The results find th?t profit?bility ?nd feminism of bo?rd of directors h?ve neg?tive effect on corpor?te sust?in?bility perform?nce. The result ?lso shows th?t independent bo?rd moder?tes the rel?tionship between profit?bility ?nd feminism of bo?rd of directors on corpor?te sust?in?bility perform?nce.