Original Research

The risk-adjusted performance of companies with female directors: A South African case

Mkhethwa Mkhize, Pumela Msweli-Mbanga
South African Journal of Economic and Management Sciences | Vol 10, No 2 | a580 | DOI: https://doi.org/10.4102/sajems.v10i2.580 | © 2013 Mkhethwa Mkhize, Pumela Msweli-Mbanga | This work is licensed under CC Attribution 4.0
Submitted: 03 April 2013 | Published: 09 April 2013

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Mkhethwa Mkhize,
Pumela Msweli-Mbanga,

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The objective of this research was to examine the effects of female directors on the risk-adjusted performance of firms listed on the JSE Securities Exchange of South Africa (the JSE). The theoretical underpinning for the relationship between representation of female directors and the risk-adjusted performance of companies was based on institutional theory. The hypothesis that there is no difference between the risk-adjusted performance of companies with female directors and that of companies without female directors was rejected. Implications of the results are discussed and suggestions for future research presented.


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