5.**Board diversity**

The heterogeneous composition of age, gender, education, race, lifestyle, culture, experience, nationality, religion, and many facets that make us unique is called diversity. Although the board deals with the external environment of the corporate [25], directors' as members appointed on Board, their experience and their equity ownership in the firm resulted in the board heterogeneity [26]. For example, 59 percent of the directors in S&P 500 companies were women or were men belonging to a racial or ethnic minority group. [27]. Research findings depict that diversity and inclusion benefit individuals, teams, and society. In contrast, women at the top of the leadership ladder express interest in an organization and perceive the organizational objectives [28].
