1 Introduction Board diversity has attracted research attention internationally as an accountability mechanism1 arrangement, albeit, with different and inconclusive findings (e.g., Del Prete et al. 2024; Janahi et al. 2023; Duff 2011; Ferreira 2015; Galbreath 2018; Wiersema and Mors 2016; Mahalakshmi and Reddy 2017; Post and Byron 2015; Upadhyay and Zeng 2014; Guest 2019).