The Study of Female Executives and Corporate Performance– Based on Propensity Score Matching Model

Abstract

In recent years, female participation in TMT has become a hot issue in corporate governance domain. Do female executives bring a better corporate performance? This paper analyzes the correlation between the proportion of female executives and corporate performance by multiple regression analysis, furthermore, this paper adopts the propensity score matching to check whether other confusing factors have interferenced the results of multiple regression. The results of multiple regression and propensity score matching both shows that the proportion of female executives has significantly improved the value of the enterprise Tobin’Q. Based on the above empirical results, this paper give some advices, such as the government should perfect the laws and regulations, enterprises need to improve the talent selection and so on.