| In recent years,as the proportion of female executives has increased year by year,the research on the management behavior of female executives has become a hot trend in the field of corporate economics research.With the deepening of the research on upper echelon theory and women’s care ethics,a large number of studies have found that the number of female executives in the enterprise changes the gender structure of the senior management team,which is important for the decision of the enterprise when making charitable donation decisions.Voting opinions have an important impact,which in turn has a negligible impact on corporate performance.In addition,we found that although the total number of female executives is increasing,they are actually difficult to lead the leadership team.Therefore,how women truly break through the "glass ceiling" and greet the equality of men and women in the workplace is also an important issue that the society has been paying attention to.In order to explore the inherent logical relationship between female executives,corporate donations and corporate performance,and the possibility that corporate donation variables play a role in the relationship between female executives and corporate performance,this paper selects China 2010-2017 A-share listed company as the research sample,based on the theoretical derivation,the corresponding mathematical model is constructed,and the logical relationship between female executives,corporate donation and corporate performance is tested by least squares method and multiple linear regression,the mediation of corporate donation is tested by stepwise test and Bootstrap method.Effect.The results show that:(1)the proportion of women in the senior management team and the impact of female CEOs on corporate performance are positive.In general,female executives can significantly promote corporate performance;(2)the proportion of female executives and Female CEOs have a significant positive effect on corporate donations,that is,female executives are conducive to improving the level of charitable donations;(3)corporate donations have a positive impact on promoting corporate performance;(4)female members in the executive team It can promote the improvement of corporate performance by actively influencing corporate donation behavior.However,corporate donation does not play a role in the relationship between female CEO and corporate performance.Obviously,female CEOs improve their performance through other paths.According to the final research conclusions,this paper proposes the following suggestions:(1)Encourage the gender diversity of corporate management,open up the promotion channels and promotion space for female executives;(2)Enhance the status and power of female executives,and stimulate the traits and management skills of female executives;(3)Promote enterprises to actively participate in charity and pay attention to the economy of charitable donations.Functional and strategic role.The main contributions of this paper are as follows:(1)From the perspective of the unique traits of female executives,corporate donation is an important intermediary variable,and the intermediate mechanism of female executives’ influence on corporate performance is examined.From the perspective of women’s risk aversion and cautious traits,the study influences corporate investment decision-making or M&A decision-making as an explanation path,thus supplementing the blank corner of existing research,which has paved the way for the research of female executives.(2)From the perspective of different positions of female executives,based on the comparative analysis method,compare the influence of female executives and female CEOs on corporate donation decisions and improve corporate performance,for female executives at different levels of positions.The management performance provides real and objective evidence,which helps to break the invisible obstacles in the female workplace,and enables the company to properly configure executives according to their market environment,stage of development,corporate culture,and individual managerial capabilities. |
