Female Top Managers,Risk Taking And Enterprise Innovation Performance

At present,China’s economy is in a stage of strong recovery.Maintaining sustained and healthy economic development prompts enterprises to pay attention to continuous innovation capabilities.For tourism enterprises,it is difficult to become bigger and stronger relying solely on natural landscapes,historical relics and traditional hotel catering.The development of modern tourism relies more on technological innovation and cultural tourism creativity.Innovation has become an inherent requirement for the high-quality development of tourism enterprises.As the main body of project innovation investment decision-making,company executives are the main factors affecting innovation performance.In recent years,with the diverse development needs of corporate governance,female entrepreneurs have begun to appear frequently in the public eye,and the proportion of corporate female executives has continued to increase.The role of female executives in corporate governance has gradually become a hot spot that has attracted widespread attention topic.In view of this,this study focuses on the Chinese scenario to specifically examine the impact of female executives in tourism companies on corporate innovation performance.This study uses the relevant data of tourism listed companies from 2010 to 2019 as a sample for empirical analysis.First,examine the impact of female executives on the innovation performance of tourism companies,and reveal whether female managers are more helpful to promote the improvement of corporate innovation performance than male managers.Secondly,introduce the variable of corporate risk-taking to explore the mechanism of the path of female executives-corporate risk-taking-tourism enterprise innovation performance.Finally,based on the resource dependence theory,this study adds the social capital of female executives as a moderating variable to study its moderating effect on the mediating effect of risk taking.The research results show that:(1)The higher the proportion of female executive power in tourism enterprises,the higher the level of enterprise innovation performance.The conclusion of this study is basically inconsistent with previous studies on women’s cautious and conservative performance in the field of innovation.(2)After the inclusion of corporate risk-taking,the synergist effect of female executives on the innovation performance of tourism companies decreased significantly,indicating that corporate risk-taking played a part of the intermediary role,indicating that female executives partly improved the risk-taking ability of enterprises,thereby improving the innovation performance of tourism enterprises.(3)The moderating effect of the social capital of female executives on the innovation performance of female executives and tourism enterprises plays a positive role through the intermediary variable enterprise risk taking,indicating that the richer the social capital of female executives,the more it can improve the influence of female executives on the enterprise.The positive impact of risk taking,thereby improving the innovation performance of enterprises.Based on tourism enterprises,this paper analyzes the "mystery of the relationship between female executives and enterprise innovation performance" in the Chinese context,enriches the research literature on the impact of gender heterogeneity in management on enterprise innovation performance,and provides insights into the assessment and management of female employees in tourism enterprises in my country from a management perspective.Provide decision-making basis to promote the improvement of tourism enterprises’ risk-taking capacity and innovation performance.