Female Directors,enterprise Innovation And Firm Performance

There is no consensus on the impact of gender diversity on corporate performance at home and abroad.Domestic researches on gender diversity are not only relatively few in quantity,but also limited in scope.Most of them only focus on the relationship between the degree of gender diversity of the board of directors and corporate performance,but seldom consider the internal influence mechanism.The innovation of this paper is mainly reflected in:First of all,this paper explores the influence of female directors by focusing on enterprise innovation.This paper uses the latest citation data to empirically analyze the correlation between female directors and enterprise innovation,and uses the propensity score matching method to exclude the influence of self-selection.Secondly,after analyzing the relationship between the proportion of female directors and corporate performance,this paper innovatively classifies domestic companies according to the level of industry competition,verifying that in technology-intensive industries,female directors can play a better role in promoting innovation and improving corporate performance.Finally,from the angle of supervision and group heterogeneity,this paper verifies the mechanism of female directors’ strengthening supervision.Considering the influence of busy directors,academic background,average age and educational characteristics on corporate innovation,this paper reduces the limitation of single gender attribute.