A Research On The Relationship Of Female Executives And Strategic Change

For a long time,Chinese women have been confined to the prison of traditional concepts such as "good wife and mother","men outside,women inside",and it is difficult to become the mainstream force of society and show their own value.In contrast to the traditional concept,in recent years,many women are breaking the "glass ceiling" to become a member of the senior management team of listed companies and participate in enterprise strategic decision-making.The development goal of the outline for the development of Chinese women 2021-2030 also clearly proposes to gradually increase the proportion of women in the board of directors,board of supervisors and management of enterprises.Under the interweaving of traditional concepts and realistic background,women’s participation in the senior management team has gradually become one of the research hotspots in the academic circles.With the premise that the strategic change of enterprises plays a key role in the development of enterprises,does the impact of women’s participation in the senior management team affect the strategic level of enterprises?At present,scholars at home and abroad have no clear answer to this research question.Based on the above research opportunities,this study integrates the resource dependence theory and social cognition theory at the social level;High level echelon theory and principalagent theory at the organizational level;After literature analysis on the theoretical basis of individual level social role theory,female leadership style theory,female risk preference theory,human capital theory and various research perspectives of corporate strategy,based on the sample data from China’s A-share private listed companies from 2009 to 2019,this paper integrates the impact of female executives’ human capital,This paper discusses the influence mechanism of women’s participation in senior management team on enterprise strategic change under the regulation of female entrepreneur capital,uses multiple regression method to conduct empirical analysis and robustness test,and constructs the analysis model of women’s participation in senior management team on enterprise strategic change.The results show that:(1)the proportion of women participating in senior management team has a significant positive impact on promoting strategic change;(2)Compared with the enterprises with lower average educational background of female executives,in the sample enterprises with higher average educational background,the increase of the proportion of women participating in the senior management team will promote the strategic change more significantly;(3)The term of office of female executives first weakened and then strengthened the positive relationship between the proportion of women participating in the senior management team and strategic change.That is,the tenure of female executives plays a Ushaped regulatory role in the relationship between the proportion of women participating in the senior management team and strategic change;(4)Compared with the female executives of smaller companies and larger companies,the positive impact of managing female executives of medium-sized companies on promoting enterprise strategic change will be restrained.That is,the management ability of female executives plays a U-shaped regulatory role in the relationship between the proportion of women participating in the senior management team and strategic change.This study discusses the impact of women’s participation in the senior management team from the enterprise strategic level,and discusses the regulatory role of nonlinear relationship,which enriches the theoretical research results of women executives and corporate governance,and has important enlightenment significance for the protection of women’s workplace rights and interests,unblocking women’s career promotion channels and giving full play to the value of women executives in Chinese enterprises,It also provides useful guidance for the practice of enterprise strategic change in China.