Women's Representation and Financial Performance: A Qualitative Sectoral Comparative Analysis and Its Implications for Development

ABSTRACT This study examines how female representation on boards, in senior management, and among staff, together with the gender pay gap, relates to the financial performance of IBEX 35 companies, placing the analysis on the development agenda of SDGs 5, 8, 9, and 10. Based on verified disclosures in Non‐Financial Reporting Statements and using Qualitative Comparative Analysis (QCA), sector configurations associated with higher net profits are identified. The results show equifinality: there is no single multi‐sector recipe. The presence of women in senior management is consistently associated with high performance in most sectors, while the effect of female participation in the workforce and the wage gap varies depending on the context. This leads to guidelines for sector‐specific strategies and policies that set diversity targets, promote wage audits, and reinforce transparency, driving inclusive productivity and innovation. The central contribution lies in replacing opaque metrics with verified disclosures and a reproducible configurational approach, favoring sustainable growth.