Board gender diversity, efficiency and risk-taking behavior: Empirical evidence from insurance firms in Kenya

Gender diversity in the board has recently become most intensely deliberated and scrutinized corporate governance aspect, especially its linkage with various economic outcomes following numerous scandals as a results of weak mechanisms. This empirical work examined association between gender (BGD), efficiency risk-taking behavior (RTB) insurers Kenya over 8 year’s period from 2013 to 2020 using dynamic data analysis model on Kenyan sample 53 insurers. The findings confirm significant inverse BGD RTB. study also reports an insignificant negative risk taking, despite showing that generally are technically inefficient. study, therefore, suggests boards relatively higher proportions women have lower propensity for taking. implications shareholders potential benefits reducing taking among With regard regulatory policy implications, support argument formulation regulations quotas both public private insurance firms. is particularly valuable emerging countries where at nascent stage. recommends future studies could extend scope determine optimal mix well broaden cover inclusivity top executives embrace additional variables.