女性董事与公司治理关系的文献综述

Literature Review on the Relationship Between Female Directors and Corporate Governance

资源依赖理论认为,女性董事的参与能够提升董事会向企业提供资源的综合能力,代理理论认为,女性董事的参与提升了董事会的独立性,降低了代理成本,可以更好地促进企业绩效的提高;而利益相关者理论则认为,女性参与董事会有助于各方利益相关者利益的维护。现有实证研究大多从代理理论出发,分析了女性董事对公司治理的影响,但结论却并不一致。

Resource dependence theory regards that the board＇s diversity can promote its capacity to provide resources to the company.Agency theory argues that the participation of women in the board can promote its independence and reduce the costs of production upon improving performance.Stakeholder theory argues that female directors can be helpful with safeguarding the interests of all stakeholders.The present study adopts the agency theory to analyze the effect of female directors on corporate governance and discovers different results.