Abstract
Our study investigates the effect of both the presence and percentage of female board directors on corporate financial performance. The main results of the study show that the presence of female directors in boards has a potential positive effect on corporate financial performance, while the percentage of females in boards has no significant effect. This result is due to the weak participation rate of females in boards of directors within the study sample, where their participation rate does not exceed 2.6%. Results of this study suggest increasing the percentage of females’ participation in the board of directors because of their positive effect on the firm’s financial performance. Therefore, these results might be useful for decision-makers, legislators, and policymakers in the GCC countries, who may support this by issuing regulations that support the participation of females in firms’ boards of directors.
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