Gender diversity, state control, and corporate risk-taking: Evidence from China

Karren Lee-Hwei Khaw, Jing Liao, David Tripe and Udomsak Wongchoti ()

Pacific-Basin Finance Journal, 2016, vol. 39, issue C, 141-158

Abstract: Corporate risk-taking activities among Chinese corporations generally increase with the presence of male-only boards but are mitigated by state ownership. The positive relation between corporate risk-taking and male dominance in boardrooms became more prominent after the Government reduced its ownership control following the Non-Tradable Share (NTS) reform launched in 2005. The reduction in corporate risk-taking through state ownership tends to weaken after the NTS reform. Our results are robust to endogeneity issues and highlight the benefit of gender diversity in alleviating excess corporate risk-taking behavior, especially in countries with relatively weaker overall investor protection.

Keywords: Corporate governance; Risk-taking; Male-only boards; Gender diversity (search for similar items in EconPapers)
Date: 2016
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Citations: View citations in EconPapers (38)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:pacfin:v:39:y:2016:i:c:p:141-158

DOI: 10.1016/j.pacfin.2016.06.002

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