Women on board: risk and performance

Abstract The purpose of this research is to explore the role of women on board in defining the relationship of risk with performance of non-financial firms in Pakistan. The study uses the sample over the period 2014–2023. Moreover, the study employs GMM and results are robust to different estimation techniques like 2SLS, and DID approach. The study also explores the role of women on board between risk and firm performance based on earnings quality. The study has found that risk significantly declines the firm performance. However, the women in corporate board room strives to improve the firm performance. The gender diversity in board of directors minimizes the risk that helps to improve the firm performance. Therefore, the women on board strengthen the relationship between risk and firm performance. Furthermore, the results reveal that this relationship is more pronounced in firms with high earning quality in comparison with companies with low earnings quality.