CEO And CFO Gender Differences And Employee's Compensation

In today's rapid social and economic development,enterprises pay more and more attention to the cultivation of excellent talents.For the construction of enterprise human resource,salary management is an important factor to attract and retain talents.Whether a company's employee compensation system is perfect can not be separated from the decision-making of managers,and the role of executives in setting employee compensation levels can not be ignored.In this paper,from the female executives in corporate governance point of view,the main study is about the impact of the CEO and CFO gender differences in employee compensation on listed companies and their interaction and the role of the mechanism.Specifically,this article selects the data of all non-financial listed companies that issued A-shares in Shanghai and Shenzhen from 2011 to 2016 as a sample,and uses the enterprise-level financial indicators and employee compensation data for empirical analysis to explore the relationship between CEO and CFO respectively.At the same time,it explores the impact of female CFOs on employee compensation under the leadership of CEOs of different genders and whether the impact is different.Finally,this paper takes different measures to test the robustness of the conclusions of the basic regression,making the empirical conclusions of this article more convincing.Empirical evidence shows that when the CFO of a listed company is a female,there is a significant negative correlation between the remuneration of the employee and no significant effect on the employee compensation when the CEO is a female.And,the above relationship is more and more obvious in private enterprises.Further analysis discusses the impact of CFO's behavior decisions on employee compensation under the management of CEOs with different gender characteristics,strategic decision making shows that the female CFO has a positive correlation with employee compensation when the CEO is female.When the CEO is male,the female CFO has significant negative effect on the employee's salary.After the endogenous and stability tests,the results are consistent.The conclusion of the study provides empirical evidence for improving the employee compensation system and can also arouse the academic attention paid to the role of female leaders in the process of setting employee compensation.