Board gender diversity and innovation performance in manufacturing firms: What is the role of risk-taking?

Jinzhi Liu and Songhua Zhu

Finance Research Letters, 2024, vol. 68, issue C

Abstract: This study investigates the impact of board gender diversity on innovation performance in Chinese listed manufacturing firms, focusing on the mediating role of firm risk-taking. Analyzing 21,262 firm-year observations from 2010 to 2022, we find that board gender diversity positively influences innovation performance through increased risk-taking. Heterogeneity analysis reveals that the impact is stronger in the Eastern and Central regions and in technology-intensive industries. These findings suggest that gender-diverse boards can foster innovation by promoting balanced risk-taking, particularly in regions with better institutional environments and technology-driven sectors. The results have significant implications for corporate governance practices and policies aimed at enhancing gender diversity and innovation.

Keywords: Board gender diversity; Innovation performance; Firm risk-taking; Manufacturing firms; China (search for similar items in EconPapers)
JEL-codes: G34 L60 M14 O31 (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:68:y:2024:i:c:s1544612324009668

DOI: 10.1016/j.frl.2024.105936

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