摘要
女性董事在中国资本市场中已日趋普遍,文章利用这一自然实验机会,以2003-2010年上市公司为样本,实证分析了女性关怀主义伦理是否会影响企业慈善捐赠行为。研究发现:(1)女性董事显著增加了上市公司的慈善捐赠水平;(2)将女性董事区分为女性独立董事和女性非独立董事后,女性非独立董事促进了慈善捐赠水平的提升;(3)女性董事(女性非独立董事)对于慈善捐赠的促进效应在国有上市公司中显著减弱。上述结论表明,在中国,女性在情境决策中的关怀主义伦理已经影响到企业决策,而国有企业的经济理性制约了女性关怀主义伦理的作用发挥。此外,独立董事在企业决策中的作用有限。
Female directors have been becoming more prevalent in China's capital market, so this paper takes advantage of the opportunity of natural experiment, and empirically analyzes the existence of the effect of feminist ethics of care on corporate philanthropy based on listed companies from 2003 to 2010. It arrives at the results as follows: firstly, female directors significantly increase the level of philanthropy in listed companies; secondly, after the division of female directors into female independent and non-independent directors, female non-independent directors play a primary role in the increase in philanthropy; thirdly, the positive effect of female directors (female non-independent directors) on philanthropy obviously weakens in state-owned listed companies. The findings abovementioned suggest that feminist ethics of care in situational decision- making has impacted corporate decision-making, but economic rationality of SOEs enforces a restriction on the function of feminist ethics of care. In addition, independent directors play a limited role in corporate decision-making.
出处
《上海财经大学学报(哲学社会科学版)》
CSSCI
北大核心
2014年第3期78-85,共8页
Journal of Shanghai University of Finance and Economics
基金
国家自然科学基金青年项目"女性高管
会计行为与投资决策"(71302113)
安徽省高校优秀青年人才基金重点项目"中国情境下女性董事对公司财务行为及绩效的影响研究"(2013SQRW005ZD)
关键词
女性董事
企业性质
慈善捐赠
上市公司
female director
corporate property
philanthropy
listed company