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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. 

Using yearly data on corporate social responsibility ratings from public-listed companies in Taiwan from 2013 to 2017, this paper empirically explores the impact of female directors ratio on corporate social responsibility rating, especially looking at whether the different impact of controlling ownership structure (public-dominated, co-governed, single-family) on corporate social responsibility rating. Our empirical results indicate that a higher the ratio of female directors significantly reduce the corporate social responsibility rating, especially for the family-controlled company. Although the public-owned controlling company improves the corporate social responsibility rating, however, the higher the ratio of female directors, regardless of the type of group, would significantly lower the corporate social responsibility rating.

This study investigates the influence of board gender diversity on the shareholder value of South African-listed non-financial companies on the JSE from 2013 to 2022. The study used a quantitative quasi-experimental method to examine the influence of board gender diversity on shareholder value creation measures from a multi-theoretical perspective. The board gender diversity measures include the proportion of women directors on the board, the Blau index for board gender diversity, and dummy variables indicating the presence of one, two, three, or more women directors on the board, as well as skewed board, tilted board, and balanced board. Shareholder value creation is proxied using standardised market value added, market-to-book ratio, and Tobin’s Q. The study utilises fixed effects models based on linear and curvilinear models to test the hypotheses. According to linear models, all board gender diversity measures demonstrate a significant positive, negative, or no effect on shareholder value creation measures, aligning with the multi-theoretical perspective of corporate governance research. However, curvilinear quadratic models suggest that the Blau index for board gender diversity and the proportion of women directors on board positively and negatively affect shareholder value creation, highlighting an inverted U-shaped effect. The results recognise the "too much- of- a -good- thing” effect and a possible optimal(or worse) level of board gender diversity as crucial. In conclusion, this study demonstrates that the claim of the ‘‘one size fits all’’ board gender diversity mechanism in creating and maximising shareholder value, often implicitly stated by regulators and advisors, may be misleading.

Using yearly data on corporate social responsibility ratings from public-listed companies in Taiwan from 2013 to 2017, this paper empirically explores the impact of female directors ratio on corporate social responsibility rating, especially looking at whether the different impact of controlling ownership structure (public-dominated, co-governed, single-family) on corporate social responsibility rating. Our empirical results indicate that a higher the ratio of female directors significantly reduce the corporate social responsibility rating, especially for the family-controlled company. Although the public-owned controlling company improves the corporate social responsibility rating, however, the higher the ratio of female directors, regardless of the type of group, would significantly lower the corporate social responsibility rating.

This study investigates the influence of board gender diversity on the shareholder value of South African-listed non-financial companies on the JSE from 2013 to 2022. The study used a quantitative quasi-experimental method to examine the influence of board gender diversity on shareholder value creation measures from a multi-theoretical perspective. The board gender diversity measures include the proportion of women directors on the board, the Blau index for board gender diversity, and dummy variables indicating the presence of one, two, three, or more women directors on the board, as well as skewed board, tilted board, and balanced board. Shareholder value creation is proxied using standardised market value added, market-to-book ratio, and Tobin’s Q. The study utilises fixed effects models based on linear and curvilinear models to test the hypotheses. According to linear models, all board gender diversity measures demonstrate a significant positive, negative, or no effect on shareholder value creation measures, aligning with the multi-theoretical perspective of corporate governance research. However, curvilinear quadratic models suggest that the Blau index for board gender diversity and the proportion of women directors on board positively and negatively affect shareholder value creation, highlighting an inverted U-shaped effect. The results recognise the "too much- of- a -good- thing” effect and a possible optimal(or worse) level of board gender diversity as crucial. In conclusion, this study demonstrates that the claim of the ‘‘one size fits all’’ board gender diversity mechanism in creating and maximising shareholder value, often implicitly stated by regulators and advisors, may be misleading.

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.