Unraveling Board Gender Dynamics and Firm PerformanceInsights from The Indian IT Sector

Authors

  • Sukhjinder Kaur Assistant Professor, Department of Commerce, Guru Nanak Dev University College, Sujanpur, Punjab, India
  • Dr. Lakhwinder Singh Kang Professor, University School of Financial Studies, Guru Nanak Dev University, Amritsar, Punjab, India

DOI:

https://doi.org/10.14419/d3g01h63

Published

19-12-2025

Keywords:

Board Gender Diversity; Women Independent Directors; Women Holding Multiple Directorships; Market Capitalisation; Information and ‎Technology Sec-tor in India; Dynamic System GMM

Abstract

This research work attempts to investigate how gender diversity affects operational outcomes within India's Information Technology (IT) sector. ‎The study specifically focuses on the roles of women independent directors and women holding multiple directorships, as outlined by the ‎Companies Act of 2013. This study also accounts for governance and firm-specific attributes to evaluate the influence of gender-diverse boards, ‎women independent directors, and women occupying several board positions on the market value of Indian IT companies listed on the BSE ‎Information and Technology Index. The analysis spans a period of ten years from 1st April 2013 to 31st March 2023, using the Generalised ‎Method of Moments (GMM) as the dynamic panel data estimation technique, which combines level and difference equations to address ‎endogeneity issues. The findings indicate a substantial positive link between the diversity of gender on boards and business performance, ‎underscoring the value of diverse perspectives in enhancing governance and strategic outcomes. Conversely, the presence of independent ‎women directors is inversely related to business performance, suggesting potential tokenism and cultural constraints that may limit their ‎influence. In contrast, women holding multiple directorships positively contribute to firm performance by enhancing board effectiveness and ‎strategic input. This study is limited to the IT sector, and the unique socio-cultural and regulatory environment in India may constrain the cross-contextual applicability of the findings across divergent industry verticals or geographic domains. Nevertheless, this research serves as a ‎valuable contribution to the limited studies available on gender diversity in corporate governance within the Indian IT sector and is among the ‎first to delve into the distinct roles of women independent directors and multiple directorship holders in a highly competitive and dynamic ‎industry‎.

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How to Cite

Kaur , S. ., & Kang , D. L. S. . (2025). Unraveling Board Gender Dynamics and Firm PerformanceInsights from The Indian IT Sector. International Journal of Accounting and Economics Studies, 12(8), 628-637. https://doi.org/10.14419/d3g01h63

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