本文選題：裝備制造業(yè)　切入點：女性董事　出處：《湘潭大學學報(哲學社會科學版)》2017年05期

【摘要】：性別多元化是董事會多元化的一種重要表現(xiàn)形式,近年來備受關注。以女性董事的風險規(guī)避傾向為研究視角,選取中國裝備制造業(yè)2006—2015年的面板數(shù)據(jù)為樣本,運用多元回歸模型實證研究女性董事對企業(yè)投融資效果的影響。結果表明:女性董事具有風險規(guī)避的性格特征,傾向于降低企業(yè)總體債務融資水平,減少長期借款,控制企業(yè)經營風險;企業(yè)長期債務的增加會影響投資決策的合理性,加劇企業(yè)的非效率投資。進一步檢驗發(fā)現(xiàn),女性董事職位權力大小影響女性董事的話語權,處于關鍵職位的女性董事能更好地發(fā)揮其決策監(jiān)督作用,有效提高董事會決議的合理性,減少企業(yè)的非效率投資。基于以上結論,提出了一些相關的政策建議。
[Abstract]:Gender diversity is an important manifestation of board diversity, which has attracted much attention in recent years.From the perspective of the risk aversion of female directors, the panel data of China's equipment manufacturing industry from 2006 to 2015 are selected as samples, and the effects of female directors on corporate investment and financing are empirically studied by using multiple regression models.The results show that: female directors have the character of risk aversion, tend to reduce the overall debt financing level, reduce long-term borrowing, control business risks, and the increase of long-term debt will affect the rationality of investment decisions.Increase the inefficient investment of enterprises.Further tests show that the power of female directors affects the voice of women directors, and that women directors in key positions can play a better role in monitoring decision-making, and effectively improve the rationality of board decisions.Reduce the inefficient investment of enterprises.Based on the above conclusions, some relevant policy recommendations are put forward.
【作者單位】： 湘潭大學商學院;
【基金】：國家社會科學基金項目“我國軍民融合驅動新興產業(yè)發(fā)展的長效機制與政策體系研究”(項目編號:17BJY083)
【分類號】：C913.68;F271;F275
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本文編號：1693733