When does a female leadership advantage exist? Evidence from SOEs in China

IF 4.6 3区 管理学 Q1 BUSINESS Corporate Governance-An International Review Pub Date : 2023-01-25 DOI:10.1111/corg.12510
Hanchen Li, Xiaochuan Tong
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引用次数: 2

Abstract

Research Question/Issue

We approach the ongoing debate in the literature on when and why a female leadership advantage exists in the context of China. In particular, we examine whether female CEOs outperform male CEOs in state-owned enterprises (SOEs).

Research Findings/Insights

We show that a female leadership advantage exists in SOEs. We find that the female leadership increased performance is attributed to improved profitability, capital structure, and operating efficiency. The magnitude of this gender effect is bigger in central state-owned enterprises (CSOEs) than that in local state-owned enterprises (LSOEs). The results are robust to additional tests that mitigate the sample selection and other endogeneity concerns.

Theoretical/Academic Implications

We use the role congruity theory to motivate and develop the hypotheses drawing insights upon the literature in psychology and leadership. Female CEOs are perceived as less congruent with their leadership roles given the gender role stereotypes. Thus, they face more challenges and difficulties than male CEOs. These obstacles take at least two forms which are significant in SOEs: shareholder activism and sex discrimination. Female CEOs have to outperform their male counterparts to alleviate the pressure from shareholder activism and showcase their managerial skills and abilities.

Practitioner/Policy Implications

For the state shareholders, the extra scrutiny in selecting female CEOs should be lifted given this outperformance. The evidence is also relevant for CEOs to choose their career paths among different types of firms, for boards of directors on their strategic decisions on CEO hiring, and for policy makers to promote the female leadership advantage.

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女性领导优势何时存在?来自中国国有企业的证据
研究问题/议题我们探讨了在中国背景下女性领导优势何时以及为何存在的文献中正在进行的辩论。我们特别研究了国有企业中女性ceo是否优于男性ceo。研究结果/见解我们发现,女性在国有企业中存在领导优势。我们发现,女性领导层的绩效提升主要归因于盈利能力、资本结构和运营效率的改善。这种性别效应在中央国有企业中比在地方国有企业中更大。结果是稳健的额外测试,减轻了样本选择和其他内生性问题。理论/学术意义我们使用角色一致性理论来激励和发展假设,并从心理学和领导力的文献中获得见解。鉴于性别角色刻板印象,女性首席执行官被认为与她们的领导角色不太一致。因此,她们比男性ceo面临更多的挑战和困难。这些障碍至少有两种形式,在国有企业中很重要:股东维权主义和性别歧视。女性ceo必须表现得比男性同行更好,以减轻股东维权主义的压力,并展示自己的管理技巧和能力。对于国有股东来说,考虑到这种优异的表现,在选择女性首席执行官时应该取消额外的审查。对于CEO在不同类型企业中选择职业道路,对于董事会在CEO招聘方面的战略决策,对于政策制定者促进女性领导优势也有一定的参考意义。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
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来源期刊
CiteScore
7.00
自引率
11.30%
发文量
79
期刊介绍: The mission of Corporate Governance: An International Review is to publish cutting-edge international business research on the phenomena of comparative corporate governance throughout the global economy. Our ultimate goal is a rigorous and relevant global theory of corporate governance. We define corporate governance broadly as the exercise of power over corporate entities so as to increase the value provided to the organization"s various stakeholders, as well as making those stakeholders accountable for acting responsibly with regard to the protection, generation, and distribution of wealth invested in the firm. Because of this broad conceptualization, a wide variety of academic disciplines can contribute to our understanding.
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