It is believed to give positive relationship with gender diversity in the boards as reported by Erhardt, Webel and Shrader, (2003), Adams and Ferreira, (2009) and Catalyst, (2008). Nonetheless, there are still some studies that find negative or no relation between gender diversity and performance(Shrader, Blackburn and Iles, 1997 and Maran and Indraah, 2009).The inconsistent results are caused by