The Influence Of Female Executives On The Dual Innovation Of Enterprises

Our country is currently in a critical period of economic restructuring.Technology has become a powerful engine to promote economic development.Innovation is particularly important for the transformation of every enterprise.The innovation decision-making of enterprises is closely related to the senior management team.In the context of the continuous improvement of our country’s economic development level and the gradual popularization of education,the status of women has also changed significantly.They are increasingly present in the senior management team of enterprises,which has a decisive impact on the innovation of enterprises in practice.At present,there is no widespread research on the relationship between female executives and corporate innovation in China,no consensus on the correlation between them,no clear definition and differentiation of corporate innovation and methods,and very little research on moderating variables between female executives and corporate innovation.Based on this,this study further refines corporate innovation into dual innovation,analyzes the relationship between female executives and exploratory innovation and exploitative innovation,and also explores the moderating effect of corporate internal governance structure between female executives and corporate dual innovation.It has important implications for both theory and practice.The research sample of this study is Chinese Growth Enterprise Market listed companies to analyze the relationship between female executives and corporate dual innovation,and further analyze the moderating effect of ownership concentration in the influence of female executives on corporate dual innovation capability.This research takes high-level echelon theory,principal-agent theory,female leadership style theory,and resource dependence theory as the theoretical cornerstones,selects the data of a total of 601 companies listed on the Chinese Growth Enterprise Market from 2015 to 2020 as the object,uses the number of invention patent applications of enterprises to represent exploratory innovation,the number of utility model and design patent applications of enterprises to represent exploitative innovation,and the percentage of female executives to measure the participation of female executives,and a fixed-effects regression model is applied to study the effect of female executive participation on corporate dual innovation using Stata15.0 software.Base on this,the moderating effect of ownership concentration is further investigated as a moderating variable between the effect of female executives on corporate dual innovation.The research results show that female executives has an inverted U-shaped relationship on exploratory innovation and a U-shaped relationship on exploitative innovation,and ownership concentration has a significant moderating effect on the impact of female executives on enterprise dual innovation.Based on the research results,this study suggests that enterprises should pay attention to women’s power in selection and employment,improve internal governance structure,and create a favorable innovation environment.At the same time,women themselves should pay attention to continuously improving their quality and stimulating their creativity and innovation.This study expands the research cases between female executives and corporate innovation,which has implications for GEM companies to optimize the structure of their executive teams,tap into the mechanisms inherent in female executives’ contribution to corporate dual innovation,and improve the internal corporate governance structure.