CEO daughter and gender capital: evidence from the top 100 high market capitalisation firms in Malaysia under upper echelons theory

Purpose This study attempted to introduce a novel integrative framework that examined how familial gender exposure (CEO daughters), institutional gender capital (qualified female executives in finance, law, accounting, and economics), and female board directors collectively influence corporate performance in Malaysia. Grounded in upper echelons theory, agency theory, stakeholder theoryand the female socialisation hypothesis, the study reconceptualised gender diversity as a strategic governance mechanism rather than a numeric target. Design/methodology/approach The study used 397 firm-year observations from Malaysia's top 100 revenue-generating firms (2018–2021). This study also employed generalised least squares (GLS), propensity score matching (PSM) and Durbin-Watson tests to ensure robust causal inference and address potential endogeneity concerns. Firm performance was measured using Tobin’s Q and return on equity (ROE). Findings The results revealed that CEOs with daughters improve firm performance. Gender capital boosts governance and female directors enhance profits. Its impact declined slightly during COVID-19. Research limitations/implications The study focuses on Malaysia’s corporate elite over four years, limiting generalisability. Future research could explore other contexts, timeframes or psychological links between family and leadership. Practical implications The findings suggest gender-inclusive, qualified leadership improves oversight, investor trust and firm value—supporting merit-based gender appointments over symbolic quotas. Originality/value This study contributes by framing gender diversity through familial ties and institutional expertise. It is among the first to explore how CEOs with daughters and gender capital influence governance and financial outcomes in Malaysia.