Ghafoor Shahzad, Duffour Kwame Asare, Khan Uzair Farooq, Khan Muhammad Kaleem
School of Business Administration, Zhejiang Gongshang University, Hangzhou, China.
Management Studies Department, Kumasi Technical University, Kumasi, Ghana.
Front Psychol. 2022 May 3;13:862897. doi: 10.3389/fpsyg.2022.862897. eCollection 2022.
The main goal of this study is to investigate the relationship between female representation on board of directors and financial performance, using evidence from Chinese fintech companies, which are providing financial services using cutting-edge technologies. This research used fintech firms listed on the Shanghai and Shenzen Stock Exchange from 2010 to 2019 to test the research questions using regression analyses by SPSS v26. According to the data, the Blau index has a large and negative influence on Tobin's Q, which demonstrates that gender diversity harms the performance of Chinese enterprises. Furthermore, corporate social responsibility (CSR) is found to have a significant and positive moderating influence on Tobin's Q, implying that the adoption of CSR converts a negative to a positive effect. Diversified board members can improve the organization's control and monitoring operations, and female-represented board of directors can participate in the CSR activities that contribute to the organization's performance. The study contributes to the research of gender diversity by providing evidence that women on board of directors enhance firm performance, and the moderating function of CSR is examined with the link of female participation on the board of directors and financial performance.
本研究的主要目标是利用来自中国金融科技公司的证据，调查董事会中女性代表与财务绩效之间的关系，这些公司正在使用前沿技术提供金融服务。本研究使用2010年至2019年在上海证券交易所和深圳证券交易所上市的金融科技公司，通过SPSS v26进行回归分析来检验研究问题。根据数据，布劳指数对托宾Q值有很大的负面影响，这表明性别多元化会损害中国企业的绩效。此外，发现企业社会责任（CSR）对托宾Q值有显著的正向调节作用，这意味着采用企业社会责任会将负面影响转化为正面影响。多元化的董事会成员可以改善组织的控制和监督运作，女性占多数的董事会可以参与有助于组织绩效的企业社会责任活动。该研究通过提供证据表明董事会中的女性能够提高公司绩效，为性别多元化研究做出了贡献，并通过女性在董事会中的参与与财务绩效之间的联系来检验企业社会责任的调节作用。
