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Female Board Chairpersons, Firm Performance, and Corporate Governance: Evidence from China

时间:2017-12-06

Accounting Seminar2017-15

Topic:Female Board Chairpersons, Firm Performance, and Corporate Governance: Evidence from China

Speaker:Fuxiu Jiang,Renmin University of China

Time:Wednesday, December 13th, 10:00-11:30 a.m

Place:Room K02, Guanghua Building 2

 

Abstract:

Using a large sample of Chinese firms, we examine performance differences between firms with female and male chairpersons and the channels through which such differences arise. We find that compared to chairman firms, chairwoman firms perform better. Chairwomen also play a more effective monitoring role (greater forced CEO turnover- and pay-performance sensitivity) and influence managers to take on more risk and value-enhancing risky projects. These results, which are robust to controlling for self-selection biases, suggest that female corporate leaders are neither risk-averse nor underconfident but rather are more diligent in maximizing shareholder wealth.

 

Introduction:

姜付秀,男,1969年6月生,经济学博士、管理学(会计学)博士后,中国人民大学商学院财务与金融系教授、博士生导师,主要研究领域为公司治理、公司金融。2010年教育部新世纪优秀人才支持计划入选者。主持国家自然科学基金重点项目和面上项目多项,在国内外学术期刊发表论文数十篇,著有《公司治理:西方理论与中国实践》、《中国上市公司投资行为研究》两部著作。担任《经济研究》、《管理世界》、《世界经济》、《会计研究》、《金融研究》、《Journal of Corporate Finance》、《Pacific Basin Finance Journal》等国内外学术期刊的匿名审稿人。

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