Female Board Representation on the Eva of Agricultural Firms Listed on the Nairobi Securities Exchange in Kenya

Abstract

This study conceptually analysed the effect of female board representation on the value of agricultural firms listed on the Nairobi Securities Exchange (NSE) in Kenya, addressing the problem of limited understanding regarding how gender diversity at the board level impacts firm performance in the agriculture sector. This study primarily focused on examining the effect of corporate governance on EVA of publicly listed agricultural companies on Kenya's NSE. The focus group survey included all six (6) agricultural listed firms that have been registered on the NSE over the last ten years. This research employed agency theory and stakeholder theory to explore the relationships. Data were gathered from yearly financial reports published from 2015 to 2024, employing organized data collection techniques to acquire pertinent information. The research utilized panel data analysis to examine relationships. Diagnostic evaluations were conducted to reduce the chances of acquiring skewed or incorrect regression outcomes. The study validated the null hypothesis concerning the link between female board representation and EVA, revealing a P-value of 0.258, suggesting a 25.8% probability that the association is simply due to chance. The main beneficiaries are investors, both institutional and individual, aiming to make informed investment decisions in Kenya's agricultural industry.

Keywords: Board Representation, Agricultural Firms, Kenya

DOI: 10.7176/EJBM/18-10-01

Publication date: October 30^th 2026