@ Gurumoorthy P . Dear sir : thank you so much for valuable information.

I would say: "yes, it may have an effect".

Hydraulic conductivity, as Gurumoorthy P. has wonderfully written, gives you an indication of the velocity of water through soil.

This might affects the aeration of the soil creating pockets of air or anaerobic environments, consequently, affecting the microbial biodiversity.

Moreover, the retention of water may affects the soil composition (i.e. changing the solubility of nutrients and micro-nutrients, redistribution of particles) and this can alter the environment and, again, the microbial biodiversity.