IDEAS home Printed from https://ideas.repec.org/a/pal/palcom/v11y2024i1d10.1057_s41599-024-03291-z.html
   My bibliography  Save this article

Gender matters: board gender diversity and firms’ export resilience

Author

Listed:
  • Yunyan Wei

    (Jiangnan University)

Abstract

This study investigates the impact of board gender diversity on the export resilience of Chinese A-share listed firms from 2009 to 2015. Our findings indicate that board gender diversity significantly enhances firms’ export resilience. The results remain robust across various modifications, including adjustments to the sample period, exclusion of extreme values, utilization of alternative measures for critical variables, addressing endogeneity concerns by adding fixed effects and employing the sex ratio at birth as an instrumental variable. Mechanism tests reveal that enhancing the quality of export products, expanding export diversity, and improving corporate reputation are crucial pathways through which board gender diversity can bolster firms’ export resilience. Finally, heterogeneity analysis shows that the positive effect is more pronounced in older firms and those with higher board educational backgrounds. This effect is also more prominent in firms located in provinces with higher levels of non-state economic and product market development.

Suggested Citation

  • Yunyan Wei, 2024. "Gender matters: board gender diversity and firms’ export resilience," Palgrave Communications, Palgrave Macmillan, vol. 11(1), pages 1-12, December.
    • Handle: RePEc:pal:palcom:v:11:y:2024:i:1:d:10.1057_s41599-024-03291-z
    DOI: 10.1057/s41599-024-03291-z
    as

    Download full text from publisher

    File URL: http://link.springer.com/10.1057/s41599-024-03291-z
    File Function: Abstract
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1057/s41599-024-03291-z?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Marion Dupire & Christian Haddad & Regine Slagmulder, 2022. "The Importance of Board Risk Oversight in Times of Crisis," Journal of Financial Services Research, Springer;Western Finance Association, vol. 61(3), pages 319-365, June.
    2. Christian Broda & David E. Weinstein, 2006. "Globalization and the Gains From Variety," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 121(2), pages 541-585.
    3. Min Liu & Weijie Lu, 2021. "Corporate social responsibility, firm performance, and firm risk: the role of firm reputation," Asia-Pacific Journal of Accounting & Economics, Taylor & Francis Journals, vol. 28(5), pages 525-545, September.
    4. Ron Martin, 2012. "Regional economic resilience, hysteresis and recessionary shocks," Journal of Economic Geography, Oxford University Press, vol. 12(1), pages 1-32, January.
    5. Keith Head & John Ries, 2001. "Increasing Returns versus National Product Differentiation as an Explanation for the Pattern of U.S.-Canada Trade," American Economic Review, American Economic Association, vol. 91(4), pages 858-876, September.
    6. Dorota Korenkiewicz & Wolfgang Maennig, 2023. "Women on a Corporate Board of Directors and Consumer Satisfaction," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 14(4), pages 3904-3928, December.
    7. Haichao Fan & Yao Amber Li & Stephen R. Yeaple, 2015. "Trade Liberalization, Quality, and Export Prices," The Review of Economics and Statistics, MIT Press, vol. 97(5), pages 1033-1051, December.
    8. Zhou, Fengxiu & Wen, Huwei, 2022. "Trade policy uncertainty, development strategy, and export behavior: Evidence from listed industrial companies in China," Journal of Asian Economics, Elsevier, vol. 82(C).
    9. Sèna Kimm Gnangnon, 2022. "Development Aid and Export Resilience in Developing Countries: A Reference to Aid for Trade," Economies, MDPI, vol. 10(7), pages 1-31, July.
    10. Ye, Dezhu & Deng, Jie & Liu, Yi & Szewczyk, Samuel H. & Chen, Xiao, 2019. "Does board gender diversity increase dividend payouts? Analysis of global evidence," Journal of Corporate Finance, Elsevier, vol. 58(C), pages 1-26.
    11. Mary Ellen Carter & Francesca Franco & Mireia Gine, 2017. "Executive Gender Pay Gaps: The Roles of Female Risk Aversion and Board Representation," Contemporary Accounting Research, John Wiley & Sons, vol. 34(2), pages 1232-1264, June.
    12. Pugliese, A. & Bezemer, P.J. & Zattoni, A. & Huse, M. & van den Bosch, F.A.J. & Volberda, H.W., 2009. "Boards of Directors’ Contribution to Strategy: A Literature Review and Research Agenda," ERIM Report Series Research in Management ERS-2009-013-STR, Erasmus Research Institute of Management (ERIM), ERIM is the joint research institute of the Rotterdam School of Management, Erasmus University and the Erasmus School of Economics (ESE) at Erasmus University Rotterdam.
    13. García, C. José & Herrero, Begoña, 2021. "Female directors, capital structure, and financial distress," Journal of Business Research, Elsevier, vol. 136(C), pages 592-601.
    14. Suwongrat Papangkorn & Pattanaporn Chatjuthamard & Pornsit Jiraporn & Sirisak Chueykamhang, 2021. "Female directors and firm performance: Evidence from the Great Recession," International Review of Finance, International Review of Finance Ltd., vol. 21(2), pages 598-610, June.
    15. Eddleston, Kimberly A. & Powell, Gary N., 2008. "The role of gender identity in explaining sex differences in business owners' career satisfier preferences," Journal of Business Venturing, Elsevier, vol. 23(2), pages 244-256, March.
    16. Heiwai Tang & Yifan Zhang, 2012. "Quality Differentiation and Trade Intermediation," Development Working Papers 340, Centro Studi Luca d'Agliano, University of Milano, revised 13 Nov 2012.
    17. Rachel Murphy & Ran Tao & Xi Lu, 2011. "Son Preference in Rural China: Patrilineal Families and Socioeconomic Change," Population and Development Review, The Population Council, Inc., vol. 37(4), pages 665-690, December.
    18. Han Wu & Jie Li & Yu Zhao, 2023. "Foreign demand shocks, product switching, and export product quality: Evidence from China," The World Economy, Wiley Blackwell, vol. 46(1), pages 276-301, January.
    19. Chen, Jie & Leung, Woon Sau & Evans, Kevin P., 2018. "Female board representation, corporate innovation and firm performance," Journal of Empirical Finance, Elsevier, vol. 48(C), pages 236-254.
    20. Gul, Ferdinand A. & Srinidhi, Bin & Ng, Anthony C., 2011. "Does board gender diversity improve the informativeness of stock prices?," Journal of Accounting and Economics, Elsevier, vol. 51(3), pages 314-338, April.
    21. Bai, Xue & Krishna, Kala & Ma, Hong, 2017. "How you export matters: Export mode, learning and productivity in China," Journal of International Economics, Elsevier, vol. 104(C), pages 122-137.
    22. Esposito, Federico, 2022. "Demand risk and diversification through international trade," Journal of International Economics, Elsevier, vol. 135(C).
    23. Besedes, Tibor & Prusa, Thomas J., 2011. "The role of extensive and intensive margins and export growth," Journal of Development Economics, Elsevier, vol. 96(2), pages 371-379, November.
    24. Huasheng Gao & Yaheng Lin & Yujing Ma, 2016. "Sex Discrimination and Female Top Managers: Evidence from China," Journal of Business Ethics, Springer, vol. 138(4), pages 683-702, November.
    25. Chen, Jie & Leung, Woon Sau & Song, Wei & Goergen, Marc, 2019. "Why female board representation matters: The role of female directors in reducing male CEO overconfidence," Journal of Empirical Finance, Elsevier, vol. 53(C), pages 70-90.
    26. Daniel A. Ackerberg & Kevin Caves & Garth Frazer, 2015. "Identification Properties of Recent Production Function Estimators," Econometrica, Econometric Society, vol. 83, pages 2411-2451, November.
    27. Juthathip Jongwanich, 2020. "Export diversification, margins and economic growth at industrial level: Evidence from Thailand," The World Economy, Wiley Blackwell, vol. 43(10), pages 2674-2722, October.
    28. Nicholas van der Walt & Coral Ingley, 2003. "Board Dynamics and the Influence of Professional Background, Gender and Ethnic Diversity of Directors," Corporate Governance: An International Review, Wiley Blackwell, vol. 11(3), pages 218-234, July.
    29. Marcel Berg & Marjolijn Jaarsma, 2017. "What drives heterogeneity in the resilience of trade: Firm-specific versus regional characteristics," Papers in Regional Science, Wiley Blackwell, vol. 96(1), pages 13-32, March.
    30. Shimin Chen & Xu Ni & Jamie Y. Tong, 2016. "Gender Diversity in the Boardroom and Risk Management: A Case of R&D Investment," Journal of Business Ethics, Springer, vol. 136(3), pages 599-621, July.
    31. Zanxin Wang & Wei Wei, 2021. "Regional economic resilience in China: measurement and determinants," Regional Studies, Taylor & Francis Journals, vol. 55(7), pages 1228-1239, July.
    32. Carbonero, Francesco & Devicienti, Francesco & Manello, Alessandro & Vannoni, Davide, 2021. "Women on board and firm export attitudes: Evidence from Italy," Journal of Economic Behavior & Organization, Elsevier, vol. 192(C), pages 159-175.
    33. Ali Kharrazi & Elena Rovenskaya & Brian D Fath, 2017. "Network structure impacts global commodity trade growth and resilience," PLOS ONE, Public Library of Science, vol. 12(2), pages 1-13, February.
    34. David A. Carter & Betty J. Simkins & W. Gary Simpson, 2003. "Corporate Governance, Board Diversity, and Firm Value," The Financial Review, Eastern Finance Association, vol. 38(1), pages 33-53, February.
    35. Chaokai Xu & Hongman Liu, 2023. "Export tax rebates and enterprise export resilience in China," The Journal of International Trade & Economic Development, Taylor & Francis Journals, vol. 32(6), pages 953-972, August.
    36. María‐Florencia Amorelli & Isabel‐María García‐Sánchez, 2023. "Leadership in heels: Women on boards and sustainability in times of COVID‐19," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 30(4), pages 1987-2010, July.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Nguyen, Thi Hong Hanh & Ntim, Collins G. & Malagila, John K., 2020. "Women on corporate boards and corporate financial and non-financial performance: A systematic literature review and future research agenda," International Review of Financial Analysis, Elsevier, vol. 71(C).
    2. Thunyanee Pothisarn & Pattanaporn Chatjuthamard & Pornsit Jiraporn & Suwongrat Papangkorn, 2023. "Sustainability, asset redeployability, and board gender diversity," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 30(4), pages 1738-1752, July.
    3. Chen, Ru & Tong, Jamie Yixing & Zhang, Feida (Frank) & Zhou, Gaoguang (Stephen), 2021. "Do female directors enhance R&D performance?," International Review of Economics & Finance, Elsevier, vol. 74(C), pages 253-275.
    4. Ding Ning & Irfan-Ullah & Muhammad Ansar Majeed & Aurang Zeb, 2022. "Board diversity and financial statement comparability: evidence from China," Eurasian Business Review, Springer;Eurasia Business and Economics Society, vol. 12(4), pages 743-801, December.
    5. Cecília Hornok & Balázs Muraközy, 2019. "Markups of Exporters and Importers: Evidence from Hungary," Scandinavian Journal of Economics, Wiley Blackwell, vol. 121(3), pages 1303-1333, July.
    6. Chen, Natalie & Novy, Dennis, 2008. "International Trade Integration: A Disaggregated Approach," CEPR Discussion Papers 7103, C.E.P.R. Discussion Papers.
    7. He, Dongwei & Wang, Yunfei & You, Kai, 2023. "Market entry and the dynamics of export product quality: Evidence from Chinese manufacturing firms," Economic Analysis and Policy, Elsevier, vol. 78(C), pages 692-706.
    8. Haichao Fan & Yao Amber Li & Stephen R. Yeaple, 2015. "Trade Liberalization, Quality, and Export Prices," The Review of Economics and Statistics, MIT Press, vol. 97(5), pages 1033-1051, December.
    9. Baghdadi, Ghasan A. & Safiullah, Md & Heyden, Mariano L.M., 2023. "Do gender diverse boards enhance managerial ability?," Journal of Corporate Finance, Elsevier, vol. 79(C).
    10. Arnaboldi, F. & Casu, B. & Gallo, A. & Kalotychou, E. & Sarkisyan, A., 2021. "Gender diversity and bank misconduct," Journal of Corporate Finance, Elsevier, vol. 71(C).
    11. Daunfeldt, Sven-Olov & Engberg, Erik & Halvarsson, Daniel & Kokko, Ari & Tingvall, Patrik, 2019. "Wholesale firms: A catalyst for Swedish exports?," Ratio Working Papers 328, The Ratio Institute.
    12. Helena Isidro & Márcia Sobral, 2015. "The Effects of Women on Corporate Boards on Firm Value, Financial Performance, and Ethical and Social Compliance," Journal of Business Ethics, Springer, vol. 132(1), pages 1-19, November.
    13. Camélia Radu & Nadia Smaili, 2022. "Board Gender Diversity and Corporate Response to Cyber Risk: Evidence from Cybersecurity Related Disclosure," Journal of Business Ethics, Springer, vol. 177(2), pages 351-374, May.
    14. Badru, Bazeet O. & Ahmad-Zaluki, Nurwati A. & Wan-Hussin, Wan Nordin, 2017. "Board characteristics and the amount of capital raised in the Malaysian IPO market," Journal of Multinational Financial Management, Elsevier, vol. 42, pages 37-55.
    15. Hidaya Lawati & Khaled Hussainey & Roza Sagitova, 2021. "Disclosure quality vis-à-vis disclosure quantity: Does audit committee matter in Omani financial institutions?," Review of Quantitative Finance and Accounting, Springer, vol. 57(2), pages 557-594, August.
    16. Naeem Tabassum & Satwinder Singh, 2020. "Corporate Governance and Organisational Performance," Springer Books, Springer, number 978-3-030-48527-6, April.
    17. Mary Amiti & Mi Dai & Robert C. Feenstra & John Romalis, 2017. "How did China’s WTO entry benefit U.S. prices?," Staff Reports 817, Federal Reserve Bank of New York.
    18. Stiebale, Joel & Vencappa, Dev, 2018. "Acquisitions, markups, efficiency, and product quality: Evidence from India," Journal of International Economics, Elsevier, vol. 112(C), pages 70-87.
    19. Fan, Haichao & Gao, Xiang & Zhang, Lina, 2021. "How China's accession to the WTO affects global welfare?," China Economic Review, Elsevier, vol. 69(C).
    20. Bolatto, Stefano & Grazzi, Marco & Tomasi, Chiara, 2022. "Export modes and firms’ adjustments to exchange rate movements," European Economic Review, Elsevier, vol. 141(C).

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pal:palcom:v:11:y:2024:i:1:d:10.1057_s41599-024-03291-z. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: https://www.nature.com/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.