PBESProceedings of Business and Economic Studies2209-26412209-265XBio-Byword Scientific Publishing Pty. Ltd.10.26689/pbes.v8i1.9677ArticleBoard Diversity and Firm Performance: An Analysis Based on ROA and ROE of Singapore Exchange Listed Firmshttps://artdesignp.com/journal/PBES/8/1/10.26689/pbes.v8i1.9677ChengYilin,ShenJunshu,ZhangHuiping2025812025-02-24This study explores the impact of board diversity on firm performance, with a focus on companies listed on the Singapore Stock Exchange (SGX). Board diversity is examined across various dimensions, including gender, age, ethnicity, and professional background, to understand its relationship with key performance indicators such as Return on Assets (ROA) and Return on Equity (ROE). Using a quantitative research approach, the study analyzes data from 90 publicly listed firms, employing descriptive statistics, correlation analysis, and multiple regression techniques. The findings reveal that the direct correlation between board diversity and financial performance, particularly in terms of ROA and ROE, is not statistically significant in the studied sample. Despite the lack of direct significance, the research underscores the nuanced and multifaceted role of diversity in corporate governance, suggesting that its impact may be more complex and influenced by various contextual factors. The study concludes by recommending that companies continue to enhance gender diversity, balance age structures, tailor professional backgrounds to industry needs, and manage board tenure effectively to optimize corporate governance and support sustainable growth.

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