Does the inclusion of women on the board add profit and value added to firms?

Based on the idea that the majority of family companies and the dominance of patriarchy in the social structure in Turkey may reduce the effectiveness of female managers in company management, this study aims to examine the effect of female managers on firm performance in Borsa Istanbul (BIST) companies. We limited our study to 126 manufacturing companies that were continuously traded in the BIST in the 2010- 2017 periods. In general, the following results were obtained in the multiple regression analyzes. The ratio of women in the board of directors and the presence of at least 1 woman in the board of directors were not found to have a significant effect on performance criteria. While the effect of having 2 or more women in the board of directors on ROE and having 3 or more women on EVA/TA was significant, the effects on other performance criteria were not found to be significant.