Does The Proportion Of Female Executives Affect Corporate Management Efficiency?

The report of the 19 th National Congress of the Communist Party of China pointed out that my country's economy has shifted from a stage of rapid growth to a stage of high-quality development,and we must insist on quality first and efficiency first.For enterprises,management efficiency is not only one of the important indicators for evaluating corporate performance,but also determines the level of corporate management efficiency,which is one of the main content of corporate core competitiveness.The high-level team theory believes that the heterogeneity of the senior management team will affect the behavior of the company,and ultimately inevitably affect the results of the company's development.In recent years,the heterogeneity of the executive team has gradually become a popular research direction in the academic circle.Gender is one of the important dimensions of the heterogeneity of the executive team,and its value and impact on the enterprise have received more and more attention.We can't help thinking: Will the differences between female executives and men in terms of behavior patterns,leadership styles,and risk attitudes bring about differences in management styles? What is the impact of its participation in the senior management team on management efficiency? Therefore,this article attempts to explore the impact of the proportion of female executives on corporate management efficiency,and on this basis,further explore the contextual effects of product market competition and external salary gaps on the relationship between the two.This paper combs through relevant theories and literature,adopts high-level team theory,social role theory and other theories to examine the impact of the proportion of female executives on corporate management efficiency,and selects product market competition and external salary gap as adjustment variables on this basis.This article uses my country's 2001-2017 manufacturing A-share listed companies as a research sample,uses stata13 software to conduct data analysis,and examines the relationship between the proportion of female executives on corporate management efficiency and the adjustment effect of product market competition and external salary gaps.The research in this paper shows:(1)The relationship between the proportion of female executives and management efficiency is an inverted U-shaped curve.(2)Product market competition has weakened the relationship between the proportion of female executives and management efficiency.(3)The external salary gap weakens the relationship between the proportion of female executives and management efficiency.(4)In addition,compared with the low-product market competition,the inverted U-shaped impact of the weakening of the external salary gap on management efficiency is more significant in the high-product market competition.This article not only enriches the research on the influencing factors of management efficiency,but also expands the scope of the role of the proportion of female executives in corporate governance,and provides important enlightenment for the development of enterprises.The details are as follows: Pay attention to the degree,and constantly improve the gender structure and proportion of the team.(2)Design a reasonable and effective salary incentive mechanism,and fully consider the salary of senior executives in the same industry.(3)Enterprises should make reasonable management decisions based on their own competitive environment.