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This is a Quantitative Study study.

Women representation and financial performance: Empirical analysis of healthcare sector in Indonesia

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Empirical analysis shows limited influence of women board members on financial performance, highlighting regulatory and cultural factors.

The study found no significant influence of women representation on financial performance in the healthcare sector.
Liquidity index was used to measure financial performance across various companies from 2018-2022.
Using multiple linear regression analysis, the findings reveal limited contributions of female leadership to financial outcomes.
Results suggest that performance impacts may vary based on organizational culture and regulatory contexts in developing nations.

Nindiasari et al. (2025) studied this question.

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