Date of Award

5-2025

Degree Type

Dissertation

Degree Name

Ph.D.

Degree Program

Financial Economics

Department

Economics and Finance

Major Professor

Dr. M. Kabir Hassan

Second Advisor

Dr. Gregory N Price

Third Advisor

Dr. Arja H Turunen-Red

Fourth Advisor

Dr. Luca Pezzo

Abstract

The dissertation examines the impact of the COVID-19 pandemic and women’s representation on banks’ financial performance and resilience. The study investigates the financial performance of Islamic banks compared to conventional banks in Organization of Islamic Cooperation (OIC) countries during the COVID-19 pandemic, using data from 230 banks across 15 OIC countries from 2016 to 2022. It employs pooled OLS and random effects models to assess the impact of the pandemic on bank performance. The findings show that while the pandemic negatively impacted both Islamic and conventional banks, Islamic banks outperformed their conventional counterparts in terms of Return on Assets (ROA), Return on Equity (ROE), and Tobin’s Q. Furthermore, the analysis identifies a potential channel for this outperformance, as Islamic banks performed better when Capital Adequacy (CAR) and Asset Turnover Ratio (ATR) were higher. Overall, the study emphasizes the resilience of Islamic banking during financial crises and provides insights for policymakers to enhance banking stability in OIC countries. The dissertation also explores the effect of women’s representation on financial performance and sustainability in the banking sector, focusing on the importance of reaching a 30% critical mass at different hierarchical levels. Using a dataset of 941 banks from 71 countries from 2014 to 2023, the study analyzes whether women’s representation at the board of directors, management, and employee levels improves financial and sustainability outcomes. The findings indicate that achieving a critical mass of women at different hierarchical levels positively affects ROA, reduces non-performing loans (NPL), and increases earnings per share (EPS). Furthermore, greater gender diversity improves sustainability, as measured by ESG scores. However, in high-volatility environments, the positive impact of women’s representation on financial performance weakens, with lower ROA and EPS, suggesting a more risk-averse approach in volatile conditions. These findings support the critical mass theory and provide insights for policymakers and financial institutions seeking to balance diversity, risk, and performance in corporate governance. Collectively, these findings emphasize the importance of ethical banking principles and inclusive governance structures in encouraging more stable, resilient, and sustainable financial systems worldwide.

Rights

The University of New Orleans and its agents retain the non-exclusive license to archive and make accessible this dissertation or thesis in whole or in part in all forms of media, now or hereafter known. The author retains all other ownership rights to the copyright of the thesis or dissertation.

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