Executives' Gender Diversification, Cash Holdings and Corporate Value —Based on Panel Data Analysis of a Share Listed Companies
Tong Lei, Hanqing Cao
Available Online November 2018.
- https://doi.org/10.2991/icemaess-18.2018.208How to use a DOI?
- Gender Diversity, Cash Holdings, Corporate Value
- 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.
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 -