Abstract:
Evidence shows that the gender of the executives will affect their decision-making behavior and effect. In recent years, female secretaries in China's listing corporation executives continued to increase, which is called “the rise of female secretaries” phenomenon. In this paper, based on psychology, management and other related research, we investigate the influence of the gender of the secretaries on the quality of information disclosure, and discovered that the increase in female secretaries did not lead to improvement of the quality of information disclosure, rather significantly reduce the quality of the information disclosure, this effect is more significant in the big corporations. The conclusion remains unchanged after we control the impact of CEO gender, CFO gender, and the proportion of females in board of directors, as well as endogeneity. This study has significance to the listing corporation to hire secretaries.
林长泉, 毛新述, 刘凯璇. 董秘性别与信息披露质量——来自沪深A股市场的经验证据[J]. 金融研究, 2016, 435(9): 193-206.
LIN Changquan, MAO Xinshu, LIU Kaixuan. On the Gender of Secretary of the Board of Directors and the Quality of InformationDisclosure: Evidence from Shanghai and Shenzhen A Shares Market. Journal of Financial Research, 2016, 435(9): 193-206.
Bin, S.,F. A. Gul and J. Tsui,2011,“Female Directors and Earnings Quality,” Contemporary Accounting Research,28(5): 1610~1644.
[19]
Boorom, M. L.,J. R. Goolsby,Rosemary and P. Ramsey,1998,“Relational Communications and Their Effects on Adaptiveness and Sales Performance,” Journal of the Academy of Marketing Science,26(1): 16~30.
[20]
Branson, D.M.,2006,No Seat at The Table: How Corporate Governance Keeps Women Out of America’s Boardrooms,Published by New York University Press.
[21]
Carter, D.,B. Simkins and G. Simpson,2003,“Corporate Governance,Board Diversity,and Firm Value,” Financial Review,38(1): 33~53.
[22]
Erkut, S.,V. W. Kramer and A. M. Konrad,2008,“Critical Mass: Does the Number of Women on a Corporate Board Make a Difference?” In Women on Corporate Boards of Directors: International Research and Practice,Eds. by Vinnicombe S.,V. Singh,R. J. Burke,D. Bilimoria and M. Huse: 222~232.
[23]
Kanter R. M.,1977,Men and Women of the Corporation,Published by Basic Books.
[24]
Kim, O. and R. E. Verrecchia,2001,“The Relation Among Disclosure,Returns and Trading,” The Accounting Review,76(4): 633~654.
[25]
Niederle, M. and L. Vesterlund,2007,“Do Women Shy Away from Competition? Do Men Compete Too Much,” Quarterly Journal of Economics,122(3): 1067~1101.
[26]
Rosa, P.,S. Carter and D.Hamilton,1996,“Gender as a Determinant of Small Business Performance: Insights from a British Study,” Small Business Economics,8(6): 463~478.
[27]
Smith, N.,V. Smith and M. Verner,2006,“Do Women in Top Management Affect Firm Performance? A Panel Study of 2500 Danish Firms,” International Journal of Productivity and Performance Management,55(7): 569~593.
[28]
Westphal, J. D. and L. P. Milton,2000,“How Experience and Network Ties Affect the Influence of Demographic Minorities on Corporate Boards,” Administrative Science Quarterly,45(2): 366~398.
