The Influence Of Female Executives On Enterprise Performance

According to the female survey report released by Grant Thornton in March 2017,Women in the Asia-Pacific region have 29% of senior management positions in business,While in China the proportion is 31%.And the proportion of Chinese enterprises with female executives has reached 77%.It is enough to show that female executives have penetrated extensively in the management of enterprises and influenced the behavior decision of the company,Cause a lot of scholars to study the relationship between female executives and enterprise performance.Executive gender differences can affect the level of corporate decision-making,resource supply,supervision and management.And the role of female executives in gender heterogeneity depends on the substance of the right to speak.Therefore,the internal mechanism of female executives and enterprise performance may be more complex.In China,a highly traditional culture country,the difference in the level of economic development and the concentration of internal power within the enterprise,directly form the internal and external environment which can affect female executives play a role in the enterprise,but few scholars from this angle to study.Power concentration is easily to the formation of "absolute power",affecting the power restriction and the substantive power of the female.The process of market differentiation will directly affect the supply of information and resources,different regions also have different attitudes towards women.Therefore,this paper uses Upper Echelons Theory,Principal-agent theory and Resource-dependent theory to study the relationship between female executives and enterprise performance,and further analyzes the influence of female executives on enterprise performance under different power concentration and marketization.And then based on the sample data of 1464 A-share listed companies from 2008 to 2015 to testify the hypotheses.The results show that:(1)The female executives and enterprise performance has a significant positive correlation;(2)The power concentration suppresses the positive influence of female executives on performance;(3)The higher the degree of marketization of the company area,the higher the proportion of female executives,but the positive influence of female on performance is relatively reduced to regions of low marketization degree.Finally,according to the empirical results,this paper puts forward the relevant policy recommendations:(1)Make laws and policies,then check the effectiveness of the implementation;(2)Pay attention to the environmental factors of internal power concentration and external marketization,improve the gender structure of management(3)Enhance the qualifications of female executives,break through the stealth obstacles in the promotion process.