Proceedings of the 2018 5th International Conference on Education, Management, Arts, Economics and Social Science (ICEMAESS 2018)

Executives' Gender Diversification, Cash Holdings and Corporate Value —Based on Panel Data Analysis of a Share Listed Companies

Authors
Tong Lei, Hanqing Cao
Corresponding Author
Tong Lei
Available Online November 2018.
DOI
https://doi.org/10.2991/icemaess-18.2018.208How to use a DOI?
Keywords
Gender Diversity, Cash Holdings, Corporate Value
Abstract
With the advancement of social and economic status, female members play an increasingly important role in modern business management, and the decision-making behavior and governance characteristics of female executives have attracted more and more attention in academic studies. This paper focuses on the impact of gender diversity on cash holdings and corporate value. The empirical test based on the panel data of A-share listed companies from 2008 to 2016 shows that: cash holdings and corporate value have an obvious inverted U-shaped relationship. The proportion of senior executive gender diversity has a significant positive impact on corporate value, but when the cash holdings are getting high, the role of senior executive gender diversity on corporate value will be significantly weakened. Further study shows that under the influence of different financing constraints, the relationship among gender diversity, cash holdings and firm value is different. This paper enriches the research on cash holding and enterprise value from the perspective of executive gender diversity and contributes new knowledge to improve management structure and performance.
Open Access
This is an open access article distributed under the CC BY-NC license.

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Cite this article

TY  - CONF
AU  - Tong Lei
AU  - Hanqing Cao
PY  - 2018/11
DA  - 2018/11
TI  - Executives' Gender Diversification, Cash Holdings and Corporate Value —Based on Panel Data Analysis of a Share Listed Companies
BT  - Proceedings of the 2018 5th International Conference on Education, Management, Arts, Economics and Social Science (ICEMAESS 2018)
PB  - Atlantis Press
SP  - 1053
EP  - 1059
SN  - 2352-5398
UR  - https://doi.org/10.2991/icemaess-18.2018.208
DO  - https://doi.org/10.2991/icemaess-18.2018.208
ID  - Lei2018/11
ER  -