女性董事与我国汽车制造行业上市公司绩效相关性研究

发布时间：2018-01-07 10:35

本文关键词：女性董事与我国汽车制造行业上市公司绩效相关性研究　出处：《郑州大学》2017年硕士论文　论文类型：学位论文

【摘要】：在公司治理中董事会占据重要的地位,公司治理水平的高低与董事会功能的有效发挥有着密切的关系,而董事会结构特征的合理性直接影响着董事会功能的发挥水平。董事会多元化已成为董事会治理中一个新的研究领域开始获得国内及国外学者积极关注。随着经济的飞速发展,参与工作的女性越来越多,并且还逐渐地进入到公司的管理岗位,董事会性别多元化日益成为国内外学者们研究的焦点,在董事会决策中女性董事的参与会对其决策水平和决策效率带来一定的影响,最后也会影响到整个公司的绩效。目前,国外许多学者已经开始对影响女性董事积极加入公司治理的因素及其给公司所带来的效果进行了相关的研究。在欧美国家,学者们已经得到了一些关于女性董事对公司治理、公司绩效以及公司决策效率影响的结论,但结论并非完全相同。然而,我国学者们主要是从董事会的特征和结构两个角度着手研究董事会和公司绩效的关系,其中包括董事会人数、董事长与总经理是否两职合一、董事会平均学历、董事持股比例和董事会会议次数等。但其中直接对女性董事与公司绩效关系的研究较少,而且大多只是对女性董事特点的论述,也很少考虑到不同行业间的差异。鉴于此本文选取汽车制造行业2006--2014年的43家上市公司的数据为研究样本,在非竞争歧视理论、利益相关理论、委托代理理论、资源依赖理论和管理行为的性别差异理论的基础上,运用多种方法对样本公司的女性董事和公司绩效的关系进行实证分析与研究。本文内容主要分以下几部分:第一部分绪论。本部分对全文进行简要的概括,其中包括研究背景和研究意义、本文的创新点和研究不足以及研究途径和方法。第二部分研究综述。首先,总结了我国女性董事的发展现状及特点分析;其次,对国内外有关女性董事特征和公司绩效关系的研究进行阐述;最后进行文献评述。逡逡第三部分理论基础。首先结合国内外的研究成果分别从非竞争歧视理论、利益相关理论、委托代理理论以及资源依赖理论四个不同的角度阐述了女性董事对企业绩效影响的理论支撑,然后着重阐述了管理行为的性别差异理论,最后对上述理论进行总结。第四部分实证研究设计。此部分包括研究样本的选取、研究假设的提出、变量选择及其定义以及主成分分析模型和多元回归模型的建立。第五部分实证分析。首先对衡量公司绩效的变量进行主成分分析得到公司综合绩效,其次对相关变量展开描述性统计分析、相关性分析,最后进行多元线性回归分析深入研究女性董事和公司绩效的关系。第六部分研究结论及政策建议。根据前文各部分分析和研究对实证分析的结论进行总结概括,在此基础上提出相应的合理化建议,从而为提高汽车制造行业上市公司的绩效提供参考。本文选取汽车制造行业2006--2014年上市公司的财务数据为研究样本,选取女性董事比例及女性董事平均受教育水平两个角度衡量女性董事特征,以公司规模、股权制衡度以及资产负债率为控制变量,研究了女性董事和公司绩效的关系,得到以下结论。汽车制造行业上市公司女性董事比例和女性董事平均受教育水平都与公司绩效显著正相关。可见随着女性董事的逐渐增多与其学历的渐渐提高,公司所掌握的资源也会渐渐丰富起来,有助于促进公司绩效的提高。提醒企业在进行公司治理时要注重女性董事的引进和参与。
[Abstract]:In the corporate governance board occupy an important position, effective level and director level of corporate governance function are closely related, and the rationality of the board structure directly affects the function of the board of directors of the level of play. The board of Directors Board of directors diversification has become a new research field of governance began to get home foreign scholars and positive attention. With the rapid development of economy, more and more women to participate in the work, and also gradually entered into the company's management positions, the board of directors of gender diversity is becoming the focus of research scholars at home and abroad, in the decision of the board of directors in the participation of female directors will have some impact on the decision-making level and the final decision efficiency, but also affect the performance of the company. At present, many foreign scholars have begun to actively join the corporate governance factors and its effect on female directors Give the company the effect brought by the related research. In western countries, the scholars have obtained some of female directors on corporate governance, corporate performance and efficiency of corporate decision-making influence conclusion, but the conclusion is not exactly the same. However, the scholars in our country are mainly two aspects of the characteristics and structure of the board of directors from the start study on the board of directors and corporate performance relationship, including the number of directors, whether the chairman and general manager of the two level one, the board of directors of the average degree, the proportion of shares held by directors and board meetings. But directly on the relationship between female directors and corporate performance research, and mostly focused on female directors on the characteristics of the. Rarely take into account the differences between different industries. This paper chooses the automobile manufacturing industry 2006--2014 years data of 43 listed companies as the research sample, in the non competitive discrimination theory, Stakeholder theory, principal-agent theory, theory of gender differences in the resource dependence theory and management behavior on the analysis and empirical research on the relationship between the use of various methods of the Sample Firms's female directors and corporate performance. This paper consists of the following parts: the first part is the introduction part makes a brief summary to the full text, which including the research background and significance of the research, the innovation and lack of research and research approaches and methods. The second part is review. Firstly, summarizes the analysis of the status quo and characteristics of the development of China's female directors; secondly, to research on the characteristics of female directors and corporate performance at home and abroad are discussed; finally, from the literature review. From the third part of the theoretical basis. Firstly, combining domestic and foreign research results from non competitive discrimination theory, stakeholder theory, principal-agent theory and information The source dependency theory of four different angles expounds the theoretical support effect of female directors on corporate performance, and then focuses on the gender differences in management behaviour theory, finally the above theories are summarized. The fourth part is the empirical study design. This part includes the selection of research samples, research hypothesis, variable selection and the definition and main composition analysis model and multiple regression model. The fifth part of the empirical analysis. Firstly, the principal component analysis to get the comprehensive performance of measure of corporate performance variables, then the related variable expansion descriptive statistical analysis, correlation analysis, and multiple linear regression analysis to study the relationship between female directors and corporate performance. The sixth part is research conclusion and policy according to the above recommendations. Analysis and Research on the conclusions of empirical analysis are summarized, on the basis of this. Reasonable suggestions, so as to provide reference for improving the performance of automobile manufacturing industry listed companies. This paper selects the financial data of automobile manufacturing industry listed companies in 2006--2014 as the research sample, select the proportion of female directors and female directors average education level of two degree angle of female directors characteristics, company size, equity balance degree and the asset liability ratio as control variables, study the relationship between female directors and corporate performance, obtained the following conclusions. Significant positive correlation of automobile manufacturing industry listed companies the proportion of female directors and the average education level of female directors and corporate performance. As the female directors gradually increased with the degree gradually increased, the company's resources will be gradually enriched, contribute to improve the performance of the company. To remind the enterprises in corporate governance should pay attention to the introduction of female directors And participation.

【学位授予单位】：郑州大学
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：F426.471;F406.7;F271

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