發(fā)布時(shí)間：2018-04-01 03:19

  本文選題：裝備制造業(yè)　切入點(diǎn)：女性董事　出處：《湘潭大學(xué)學(xué)報(bào)(哲學(xué)社會(huì)科學(xué)版)》2017年05期

【摘要】：性別多元化是董事會(huì)多元化的一種重要表現(xiàn)形式,近年來(lái)備受關(guān)注。以女性董事的風(fēng)險(xiǎn)規(guī)避傾向?yàn)檠芯恳暯?選取中國(guó)裝備制造業(yè)2006—2015年的面板數(shù)據(jù)為樣本,運(yùn)用多元回歸模型實(shí)證研究女性董事對(duì)企業(yè)投融資效果的影響。結(jié)果表明:女性董事具有風(fēng)險(xiǎn)規(guī)避的性格特征,傾向于降低企業(yè)總體債務(wù)融資水平,減少長(zhǎng)期借款,控制企業(yè)經(jīng)營(yíng)風(fēng)險(xiǎn);企業(yè)長(zhǎng)期債務(wù)的增加會(huì)影響投資決策的合理性,加劇企業(yè)的非效率投資。進(jìn)一步檢驗(yàn)發(fā)現(xiàn),女性董事職位權(quán)力大小影響女性董事的話語(yǔ)權(quán),處于關(guān)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(huì)決議的合理性,減少企業(yè)的非效率投資�；谝陨辖Y(jié)論,提出了一些相關(guān)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(xué)商學(xué)院;
【基金】：國(guó)家社會(huì)科學(xué)基金項(xiàng)目“我國(guó)軍民融合驅(qū)動(dòng)新興產(chǎn)業(yè)發(fā)展的長(zhǎng)效機(jī)制與政策體系研究”(項(xiàng)目編號(hào):17BJY083)
【分類(lèi)號(hào)】：C913.68;F271;F275
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本文編號(hào)：1693733