Background:           Gender diversity on boards is a topic that not only has been covered by academics for decades but also in recent years received attention from the European Union and the Swedish government. Sweden is one of the most gender equal countries, but despite being so, only 29% of all board members in Swedish listed companies were females in 2016.

Purpose:                  The purpose of this study is to investigate the relationship between women on boards and firm financial performance for Large Cap Swedish companies listed on Nasdaq Stockholm over a five-year period ranging from 2012 to 2016.

Method:                   To determine the relationship between women on boards and firm financial performance, OLS regressions is performed on secondary data, which is partly hand-collected and partly retrieved from databases.

Conclusion:             The findings of this study indicate that there is no correlation between women on boards and firm financial performance for Swedish Large Cap companies listed on Nasdaq Stockholm. The implications of the results in this study for shareholders is that when appointing board of directors, other characteristics of the board member should take priority over the gender of the board member.