Research On The Female Directors’ Participation In Governance Of China Listed Companies

In recent years, the gender diversity on the corporate board of directors, that is, the female directors take part in the corporate governance, has become an important issue in the field of the corporate governance. As the percentage of the female directors on the board increases, the research about female directors to take part in the governance has risen. The board of directors is in the core of the corporate governance, has very important influence on the coordination of the relation among the shareholders, the board of directors, the management and other stakeholders, and the operating management of the corporate. And the female directors to take part in the governance impact the operation of the board of directors and the corporate performance, which make it to be the important influencing factor of the board governance.Foreign scholars has thoroughly discussed this issue, after the review of the literatures, I have discovered that the scholars are mainly make the empirical research using the sample of America or Europe’s listed companies based on the theoretical analysis. In contrast, the domestic scholars’researches on the female directors’ participation on governance are very few, especially the empirical research on the listed companies of China. In our country, the female directors’participation has the specifically about the market environment, social, economic, cultural background. It is lack of effectiveness if study only with the foreign research achievements. Therefore, it has important theoretical and practical significance for the study of female directors’influencing factor and effect to the diversity of the structure of the board of directors and the full play of the function of the board of directors. Based on this research background, this paper put forward the research hypothesis after the review of the domestic and foreign research results and the consideration of the realistic of the listed companies of China. Then, explore and research the female directors’participation of the listed companies of China with the method of the empirical and theoretical studies.The paper selects the1437listed companies in A stock market to do the empirical research of the female directors’participation of corporate governance. Firstly, do the theoretical analysis on the influencing factors and effect of the female directors based on the review of the domestic and foreign researches especially the foreign researches on the female directors’participation of corporate governance, and then put forward the relevant theoretical hypothesis and models. Secondly, do the empirical research on the influencing factors and the effect of female directors’ participation of corporate governance, in which the influencing factors are including the corporate and board characteristics and the effect including the board of directors’ operation and the companies’performance. The part includes the descriptive analysis of the sample data as well as the empirical correlation analysis and regression examine. Finally, based on the comprehensive analysis of the empirical research findings, the paper summarizes the issue of the female directors’participation on the corporate governance and puts forward some proposals, and then expounds the research prospect.The innovation of this paper is:first of all, study comprehensively the female directors’participation in the board from the influencing factors and effect, and furthermore found the mediating role of the behavior strength of the board of directors; In addition, introduce the social responsibility to investigate the effect of female directors to the non-financial performance. The limitation is because of the accessibility of data collection and the limited energy that the measure of such variables as the board of directors’behavior and non-financial performance of the companies is lack of comprehensive.