An Empirical Study On The Relevance Of The Gender Ratio Of Senior Management Team And Corporate Legal Proceedings

According to the Upper Echelons Theory,the different personal backgrounds of the executive team of listed company will have different effects on the company's decision-making.It has been an important but original topic in corporate management: the impact mechanism of the demographic characteristics of the executive team on the entire enterprise management.The research object of this article is the legal action which has a significant impact on the operation and management of listed companies.At the same time,it should be disclosed in the footnote of the annual financial report.Listed companies should follow the provisions of the "Securities Law" and actively disclose all litigation and arbitration because they have a significant impact on the company as required.It can improve the symmetry and transparency of information,also help stakeholders make more accurate decisions,and protect the interests of investors.The purpose of this study is as follows: assuming the precedent logic that male and female executives have significant differences in decision-making;considering the impact of this difference on the number of legal proceedings disclosed in the annual financial statements of listed companies;testing the logical assumptions of relationship between the gender ratio of women and men and legal proceedings.The research method of this paper is divided into three steps: the first step is to perform negative binomial regression on the collected sample population to detect the correlation between the gender ratio of listed companies and the number of corporate legal proceedings;second,do the logical processing of samples: nonzero legal proceedings are assigned to 1,zero legal proceedings are assigned to 0,then the binary logistics regression model is established to study the relationship between the gender ratio and the number of corporate legal proceedings;The third step is to test the correlation between the gender ratio of all sub-samples of nonzero legal proceedings and the number of corporate legal proceedings,and establish a fixed-effect panel model.The results show that the higher the proportion of female in the executive team of a listed company,the fewer the number of legal proceedings.The theoretical and practical significance of this article is as follows: First,this article can enrich the research results on the impact of female senior executives on corporate management,and conduct research from the unique perspective of the number of legal proceedings.Second,this empirical result can provide empirical evidence for companies to pay more attention to women's power in human capital management.The practical significance of this conclusion is that listing should abandon sexism in the selection of people,and absorbing excellent female executives to make full use of human capital should be a problem that listed companies should carefully consider when they are team building and talent structure design.