Abstract

This study analyses the relationship between gender diversity on the board of directors' executive roles and the firm economic value. Based on a sample of Portuguese non-financial listed firms, between 2010 and 2018, results show that executive female contribute to decrease the firm economic value-added, and CEO gender diversity to decrease market value added, while no impact is found to traditional performance measures. Since the presence of women on the board of Portuguese firms is still scarce, female presence is not seen as relevant to add value to firms. These results are pioneer since previous studies found no impact of female presence on boards on value added measures. Moreover, findings show the relevance of value-added measures to analyze performance and singularities compared to profitability measures.

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