Abstract
In this chapter, the impact of board gender diversity on overall firm risk was investigated. Drawing on social identity theory, upper echelons theory, and agency theory, a hypothesis of a negative link between gender diversity on the board of directors and firm risk has been put forward. Using a panel data regression on a sample of large Tunisian companies listed on the Tunis Stock Exchange (BVMT) over the period 2016-2020, the author was able to provide empirical evidences supporting the existence of a significant negative impact of the percentage of women on boards of directors on stock return volatility as global firm risk proxy.
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