A Systematic Literature Review on the Gender Diversity Issues in Corporate Boards : Firm Performance Perspective

Diversity is essential for transformation and development. Many theories like the agency theory and stakeholder theory revolve around the idea that gender diversity among the board of directors adds value to organizations. Numerous studies have shown that there are practical obstacles for female board candidates in a variety of organisations (Korenkiewicz & Maennig, 2022). Moreover, in order to be considered for a board nomination, women frequently need to have higher academic achievements than men. (Korenkiewicz & Maennig, 2022). The literature points to the fact that on a more regular basis, when contrasted with men, females feel deterred to try for high-profile positions because of segregating generalizations or the absence of networking opportunities in top-of-the-line corporate circles. Furthermore, the size of the firm and masculine corporate culture may likewise deter ladies' political decision to move into the firm’s administration bodies. In today’s world, females have closed the gender gap and overtaken men in many countries in enrollment as well as clearing the exams at school and university levels, but still, they are underrepresented in corporate governance positions. Our study emphasizes how a board of directors' increased female representation affects a company's performance