The Impact Of The Background Characteristics Of Female Executives On Corporate Performance In Chinese Listed Companies

With the development of economic and culture,more and more women have broken through the "glass ceiling" restrictions,participated in economic activities,and emerged in corporate management.Many scholars have conducted research on the correlation between female executives and corporate performance,and most of the research findings show that female executives have a positive role in promoting corporate performance.However,as far as the research status of the relationship between the two is concerned,the research results are still not rich enough,and there are significant limitations.Most scholars study the relationship between the two only from the perspective of the proportion of female executives,but there is no in-depth discussion on its mechanism of action.Therefore,this thesis takes the influence of female executives' background characteristics on corporate performance as the research topic,tries to find out the real causes of female executives' impact on corporate performance,deepens existing research,and helps companies to more scientifically develop female executives suitable for themselves.It aims to have a good influence on the development of enterprises and research in this field.This thesis takes the A-share listed companies in Shanghai and Shenzhen stock markets as the research object in 2012-2016,and divides the background features of female senior executives into the indicators of homogeneity and heterogeneity.Using the ROA and the EPS as the measure of financial and market performance of corporate respectively,this thesis empirically analyzes the influence of the background characteristics of female senior executives on corporate performance.Further,the samples are subdivided into state-owned group and non-state-owned group according to the nature of property rights.The influence of different background characteristics of female executives on the performance of companies with different property rights is comparatively analyzed.Finally,through a series of stability tests,the reliability of theconclusions obtained is examined.Combined with the conclusions obtained in this thesis,relevant policy suggestions are proposed,and the deficiencies and future research directions of this thesis are pointed out.The results of the study indicate that there are significant positive correlations between the average academic qualifications,average salary,average occupation experience,political background,academic background,overseas background,and corporate performance of female executives in the homogeneity index;the average tenure of female executives has a significantly negative correlation with corporate performance;female executives' average age is negatively correlated with firm performance but not significant.there are significant positive correlations between female executives' age heterogeneity,academic heterogeneity,salary heterogeneity and corporate performance in company heterogeneity indicators,and there is a significant negative correlation between the heterogeneity of female senior management tenure and firm performance.After further classifying the sample into state-owned groups and non-state-owned groups according to the nature of property rights,it is found that in enterprises with different property rights,the same background characteristics of female senior executives may also have different manifestations.There is a significant negative correlation between the average age of female executives and corporate performance in state-owned enterprises,while there is no significant negative correlation in non-state-owned firms;Women executives ' education heterogeneity and corporate performance are negatively correlated but not significant in state-owned enterprises,while there is positive correlation between the two but not significant in non-state-owned enterprises.