Board gender diversity and sustainable growth rate: Chinese evidence

Ekonomska Istraživanja

Qurat Ul Ain¹  Xianghui Yuan¹  Hafiz Mustansar Javaid²  Muhammad Naeem³ 

[1] School of Economics and Finance, Xi’an Jiaotong University;School of Economics, Sapienza Università di Roma;UCP Business School, University of Central Punjab;

关键词: board gender diversity;    sustainable growth;    corporate governance;    female board directors;    ownership structure;   

DOI  :  10.1080/1331677X.2021.1965002

来源: DOAJ

【 摘 要 】

This study investigates the impact of women directors on a firm’s sustainable growth rate. Using data from 2003 to 2017 for Chinese listed firms, we found a positive relationship between women directors and a sustainable growth rate. Our study also contributes to institutional theory by providing evidence that this positive relationship is more effective in legal-person-controlled firms than state-controlled firms. In comparison, women independent directors have a stronger influence than women executive directors on sustainable growth. Similarly, board gender diversity with three or more female directors substantially affects firms’ sustainable growth, consistent with critical mass theory. Our study’s findings are robust in terms of alternative estimations techniques, variable specifications, and different identification strategies, such as two-stage least squares and propensity score matching. Our study provides novel evidence on women directors’ role in increasing firms’ sustainable growth rate by adding a new dimension to the ongoing debate in the gender diversity literature.

【 授权许可】

Unknown