Firm internationalization: does female board representation matter?

Purpose Drawing on the resource-based perspective, gender self-schema theory and the literature on international business, this study investigates whether female representation on boards affects firm internationalization in an East Asian context. Design/methodology/approach We test our hypotheses using a balanced panel dataset of 753 publicly listed firms in Taiwan, spanning 14 years (2005–2018). Findings The findings show female board representation has an inverted U-shaped curvilinear relationship with firm internationalization. Additionally, this relationship is moderated by firm age and growth opportunity. Originality/value This study highlights the drivers of firm internationalization, stresses the importance of female board representation for internationalization and shows the contingent nature of internationalization decision-making in general.