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女董事对公司业绩的影响:使用美国公司的证据
Nafisah Yami1, Hashem Alshurafat2, Mohamed Shaaban Ibrahim Shaaban3
1King Saud University, Saudi Arabia.
Acta psychologica
|June 15, 2025
概括
女性董事对公司业绩产生积极影响,但与男性董事相比,投资者对其任命的反应在统计学上并不显著. 这凸显了企业治理中性别多样性的复杂性.
科学领域:
- 公司治理 公司治理
- 性别多样性研究 研究性别多样性研究
- 金融经济学 金融经济学
背景情况:
- 女性董事对公司业绩的影响是公司治理研究的一个关键领域.
- 现有研究提出了不同的发现,需要进一步调查性别多样性对商业成果的微妙影响.
研究的目的:
- 调查女性董事对公司业绩的影响,使用强大的计量经济学方法.
- 分析投资者对女性董事与男性董事任命的反应.
主要方法:
- 差异差异 (DiD) 分析比较了220名女性董事任命与匹配的男性董事任命,使用倾向分数.
- 事件研究方法用于评估市场对董事任命的短期反应.
主要成果:
- 迪迪分析显示,女性董事的存在与公司业绩之间存在统计学上显著的正相关性.
- 事件研究没有发现投资者对女性与男性董事任命的反应有统计学上显著的差异.
结论:
- 女性董事似乎提高了公司的业绩,正如DiD分析所表明的那样.
- 投资者情绪在任命女性和男性董事之间没有明显的区别,这表明市场中立性或推迟承认.
- 该研究强调了在理解性别多样性与企业业绩之间的复杂关系方面,方法选择的重要性.
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