The Impact of Board Gender Diversity on Firm Value: Evidence from Kuwait

Using a sample of 23 Kuwaiti companies for the period of 2012 to 2014, we examine the impact of board gender diversity on firm value (Tobin’s Q). The empirical analysis shows that board gender diversity is positively associated with firm value in Kuwait. Our results suggest that embedding gender quotas in top management can increase firm value for Kuwaiti firms. Our paper contributes to the corporate governance literature, which suggests that presence of women in top management are likely to improve the quality of boards’ decisions and in turn increase firm value. Also, it contributes to the literature by exploring the relationship between board gender diversity and firm value in an emerging country.