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GENDER HETEROGENEITY AND FINANCIAL PERFORMANCE OF LISTED NIGERIAN COMPANIES is a well researched Project Topic, it can be used as a guide or framework for your Academic Research


This study investigated the economic impact of gender diversity on the Board composition of companies listed on the Nigerian Stock Exchange (NSE). Based on the grouping of fifty most capitalized companies on the NSE into companies with no female on board and those with at least one female on the board, the firm performance was analyzed with Mann Whitney U -test over a three-year period.

We also examined whether there was any significant difference between the performance of boards with only one female and those with more than one female. The results show no significant difference in the performance of both groups. This is due to moderately heterogeneous board composition as a result of a few females in top-level decision-making. We recommend a policy mandating listed companies to evaluate their employment and selection methods regarding nomination and promotion into boards and management teams.


Nigeria is the most populous country in Africa with one hundred and seventy-three million and six hundred people [1]. Of this number, women account for 49% but grossly under-represented on the senior executive and board positions in the one hundred and ninety-two (192) firms listed on The Nigerian Stock Exchange (NSE) as at 2013 [2].

This is, however, contrary to the developed world and a few developing-world economies that strive to achieve an increased number of females’ participation in corporate board rooms [3]. Such countries aim at increasing females’ participation because directors in most boardrooms around the world are substantially males.

In order to achieve an increase in females’ participation, a number of capital market regulators have introduced legislation imposing gender quotas or mandatory disclosure of the number of females for boards of listed companies [4]. The motivation for the study was aroused from the empirical results of the previous research studies which are somewhat mixed [5], [6].

Some researchers claim that gender diversity has a positive impact on the company by enhancing the growth and monitoring process [5],[6],[7] while others discovered that board gender heterogeneity has no impact on the economic performance of organization [8],[9]. In spite of the importance of equality policies aimed at breaching the gap and much research associated with gender diversity in the developed world, there is still limited research on this area in Nigeria.

The study fills this gap by evaluating the relationship between gender heterogeneity and the company’s performance of listed companies on the NSE. The sections of the paper are arranged in this order: section two is on literature review and theoretical background; section three describes the research method and section four focuses on
findings, recommendations, and policy implications.


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