Top Executives Officer Gender Diversity and Working Capital Efficiency

Nurhidayah, Sokat (2024) Top Executives Officer Gender Diversity and Working Capital Efficiency. DBA thesis, Universiti Malaysia Sarawak.

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Abstract

With only 7.55% of women holding top executive positions in Malaysia, concerns over tokenism and its impact on financial performance are growing. In the post-COVID economic recovery, where effective working capital management is crucial, this gender diversity may limit companies' ability to optimise financial strategies and operational efficiencies. The lack of diversity at the executive level restricts innovative decision-making and hinders talent utilisation, potentially undermining organisational resilience. This study investigates the influence of gender diversity among top executives on working capital management performance in firms listed in Malaysia from 2001 to 2021. The methodology includes purposive sampling, Logit Binary Regression, and Bhattacharya's (1996) Working Capital Efficiency Index. Findings reveal that female top executives excel in overall Working Capital Efficiency (WCE), while male top executives perform better in Working Capital Utilisation (WCU). Females focus on sustainable strategies, while males are more aggressive in utilising current assets for short-term revenue. The study recommends that female participation improves risk management, innovation, and corporate governance. However, limitations include the focus on Bursa Malaysia. Future studies could explore industry specific analyses. Stakeholders should recognise that diversity in executive teams is crucial for effective working capital management.

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