Underrepresentation of female CEOs in China: The role of culture, market forces, and foreign experience of directors

Haiming Liu, Quanxi Liang and Leng Ling

Research in International Business and Finance, 2022, vol. 63, issue C

Abstract: We investigate the effect of a specific aspect of national culture on the selection of female Chief Executive Officers (CEOs) in Chinese companies. Exploring a sample of 2519 listed firms for the period 2008–2017, we find that firms located in regions that are more demonstrably influenced by Confucianism, which promulgates female subordination to men, are less likely to select female CEOs. In addition, although female CEOs measurably outperform male counterparts, they receive lower pay. We also find that the extent of competition in product markets and the directors’ foreign experience moderate the effect of Confucian culture on CEO gender inequality.

Keywords: Female CEO; Gender inequality; Culture; Foreign experience (search for similar items in EconPapers)
JEL-codes: D10 G32 (search for similar items in EconPapers)
Date: 2022
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:riibaf:v:63:y:2022:i:c:s0275531922001799

DOI: 10.1016/j.ribaf.2022.101793

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