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

Authors

Haiming Liu, Shandong University of Finance and Economics
Quanxi Liang, Guangxi University
Leng Ling, Georgia College & State University

Document Type

Article

Publication Date

12-1-2022

Publication Title

Research in International Business and Finance

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.

Department

Economics and Finance

Volume Number

63

DOI

10.1016/j.ribaf.2022.101793

Recommended Citation

Liu, Haiming; Liang, Quanxi; and Ling, Leng, "Underrepresentation of female CEOs in China: The role of culture, market forces, and foreign experience of directors" (2022). Faculty and Staff Works. 469.
https://kb.gcsu.edu/fac-staff/469