Women directors and market valuation: What are the “Wonder Woman” attributes in banking?

•Women directors’ representations on board and their attributes are investigated in association with bank market value.•A unique sample of listed banks was investigated for developing countries characterized by low women’s empowerment/quotas and a dual banking system.•Independent women are significantly and positively associated with bank value but women’s leadership as chairperson has no significant effect.•Foreign women directors and those holding international qualifications report negative associations while those having special qualifications tend to enhance bank value.•A representation of women directors on the board is negatively associated with market value for Islamic banks in contrast to conventional banks.•Women directors are associated with enhanced bank value only during non-financial crisis years (i.e. 2007–2009)