TAILIEUCHUNG - Financial distress prevention in China: Does gender of board of directors matter?

This paper examines the impact of diversity in board members of firms on financial distress risk in China from 2005 to 2015. Using data from CSMAR database, the research finds that firms with women directors will decrease their distress risk by one forth. Such firms enjoy access to bank loans with larger size, from more banks and at higher frequencies to resist funding risk, which implies stronger financing ability and confirms gender diversity effect. Furthermore, firms with female directors show remarkably different behavior in investment, which would significantly influence insolvency status and is consistent with male-overconfidence theory in gender. Finally, firms controlled by with-female-board reduce risk by exerting tighter internal governance, reducing agency cost and restricting the behaviors of large shareholders’ tunneling. The paper indicates that the female directors’ impact on firm financial distress is mainly exerted both through liquidity channels and strategic channels. The results are robust under difference-in-difference method after exogenous matching and instrument variable approach. As governments growingly contemplate board gender diversity policies, our study provides further evidences to Chinese government on this issue. | Financial distress prevention in China: Does gender of board of directors matter?

• Tài chính doanh nghiệp
• Board of directors
• Financial distress
• Board of directors matter
• Financial distress prevention
• Chinese government on this issue
• Family ownership concentration on the relationship
• The characteristics of board of directors and earnings management
• Directors and earnings management
• Family Ownership Concentration
• Board of Directors Characteristics
• Board gender diversity
• CAC 40 companies
• French CAC 40 listed firms
• Board of directors’ composition
• Return on assets
• Social sciences
• Profitability ratio of Thai non life insurers
• Thai non life insurers
• Board independence
• Profitability ratio
• Journa science
• International journal of financial research
• Bank performance
• Corporate governance
• Financial restatements
• Audit fees
• Accounting information
• Board of directors’ turnover
• Association between financial restatements
• Summary of PhD thesis
• Business Administration
• Listed Company
• Finance of listed companies
• DIRECTORS
• ORGANIZATIONAL STRATEGY
• thesis
• internship reports
• project course
• graduate thesis
• Deposit money banks
• Board independence and financial performance
• Deposit money banks in Nigeria
• Ordinary Least Square regression
• Ratio of female directors
• Enacting Legislation
• Legislative Proposals
• Budget and Performance
• Flexibility – double majors
• specialist fields
• Unravel Complex
• Biological Questions
• Flexible Protein
• Protein Docking
• specialized databases
• constitute essential
• giáo trình kiểm toán
• kiểm toán căn bản
• sai sót trong kiểm toán
• trách nhiệm kiểm toán
• tài chính kiểm toán
• bioimpedance spectroscopy
• Hilbert transform
• multi frequency BIA
• different non linear
• optimization techniques
• illegal adulterant
• independent financial and commercial services
• stock market
• Monetary policy
• asset
• members of civil society
• The emphasis is on systematic
• and the Board mem bers
• to be members of organ
• The directors have been
• as the Slovak National
• Accounting Standard
• Tiêu chuẩn kế toán
• Chuẩn mực kế toán
• Accounting policies
• Accounting Standards Interpretations
• Corporate governance mechanisms
• Audit committee
• Executive committee
• Uae conventional and islamic banks
• Uae national commercial banks
• Securities and Exchange Commission
• Lower middle income country
• Low income county
• Upper middle income country
• Private sector banks in India
• Evaluation of dividend policy
• Selected public and private sector banks
• Profitable future investment proposals
• Corporate Social Responsibility
• Subject of corporate governance
• Phrase corporate governance
• Controlled and managed
• Firm performance
• System GMM
• Block holder ownership
• Impact of corporate governance
• Corporate governance and capital structure
• Stock market in Vietnam
• Firm value of firms in Vietnam
• Chairman of the Board of Directors
• Corporate governance proxies i e board size
• KSE 100 Index
• Audit committee and CEO duality
• Non executive directors