Research On Influence Of Female Executives On Corporate Social Responsibility Performance

In recent years, corporate social responsibility has aroused widespread academic and social concern, the structure of corporate governance and senior management plays a vital role on corporate social responsibility. As an important part of the management of company, female executives' impact should not be underestimated. Considering that women have different characteristics and action styles from men, it has a practical significance to study the influence of female executives on corporate social responsibility.This paper mainly includes the theoretical basis, literature review, empirical research and policy recommendations. Firstly, three theoretical bases, which are Feminist Care Ethics, Corporate Governance and Corporate Social Responsibility, have been expounded from the dimension of time, and Corporate Governance and Corporate Social Responsibility have been explained combined with the Stakeholder Theory. Variables including female executives, corporate governance framework and control variables have been selected to study the performance of corporate social responsibility. Sample data come from 1430 A-share listed companies in Shanghai and Shenzhen Stock Exchange from 2010-2013, which were analyzed by regression model and Stata12.0.The study found that the performance of corporate social responsibility of our listed companies is at a low level right now. The proportion of female executives has a positively U-shaped relationship with corporate social responsibility performance, especially these listed companies in the tertiary industry and central region. The average education level of female executives is positively related to corporate social responsibility performance, the average age and term of female executives has no significant relationship. The proportion of women as chairman/general manager has no significant impact on corporate social responsibility performance, the proportion of women as other senior managers besides chairman/general has a positively U-shaped relationship with corporate social responsibility performance, especially these listed companies in the tertiary industry. Besides, executive compensation has a significant positive impact on corporate social responsibility. It is also found that equity concentration, executive compensation and the size of the Board of Supervisors have significant modulatory effects on the relationship between female executives and corporate social responsibility performance using analytic hierarchy process.According to the research conclusions, following recommendations have been put forward to help enterprises to improve social responsibility performance:strengthen propaganda to raise social awareness of corporate social responsibility; increase the proportion of female executives in listed companies to play the role of female executives; improve the education level of female executives to improve the comprehensive quality of female executives; improve corporate governance structure to raise the level of management.