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Do ‘Lehman Sisters’ work in China? Women on boards and bank risk

Author

Listed:
  • Huang, Yichu
  • Fang, Feifei
  • Fan, Yaoyao
  • Ly, Kim Cuong

Abstract

We investigate how women on boards impact bank risk in China. Using a merged dataset containing 83 Chinese banks for the period of 2006–2019, we find that more women on boards could reduce bank risk in China. We further provide the evidence that risk-averse nature of women directors motivates them to organize more board meetings in order to lower bank risk. Additionally, women executive directors play the main role in reducing bank risk and a critical mass (three or more) of women directors intensifies the negative impact on bank risk. Our results still hold when we use lagged variables, GMM regression technique, instrumental variable and DID estimation. Our study could provide valuable empirical advice for the policy makers in both China and other developing countries.

Suggested Citation

  • Huang, Yichu & Fang, Feifei & Fan, Yaoyao & Ly, Kim Cuong, 2024. "Do ‘Lehman Sisters’ work in China? Women on boards and bank risk," International Review of Financial Analysis, Elsevier, vol. 93(C).
    • Handle: RePEc:eee:finana:v:93:y:2024:i:c:s1057521924000619
    DOI: 10.1016/j.irfa.2024.103129
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    More about this item

    Keywords

    Women on boards; Bank risk; Evidence from China; Emerging markets;
    All these keywords.

    JEL classification:

    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • G30 - Financial Economics - - Corporate Finance and Governance - - - General
    • G34 - Financial Economics - - Corporate Finance and Governance - - - Mergers; Acquisitions; Restructuring; Corporate Governance

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