Nirosha Hewa Wellalage|Stuart Locke
Women on board, firm financial performance and agency costs
University of Waikato|University of Waikato
study investigates link female board directors company financial performance agency costs sri lankas publicly listed companies order investigate impact board gender diversity firm financial performance dynamic panel generalised method moment estimation applied three variables used proxies gender diversity board directors namely percentage women board dichotomous dummy blau index tobit model endogenous regressors used investigate impact female board members agency cost using growth opportunities measure agency cost controlling size industry corporate governance measures study finds significant negative relationship proportion women boards firm value along increase company agency cost evidence provides insights governments academic institutions efforts provide resources help enhance womens leadership skills