女性高管参与对企业绿色创新的影响:促进还是抑制  

The Impact of Female Executives'Participation on Green Innovation of Enterprises:Promotion or Inhibition?

作　　者：严若森[1] 塔雨琪 Yan Ruosen;Ta Yuqi(School of Economics and Management,Wuhan University,Wuhan 430072,China)

机构地区：[1]武汉大学经济与管理学院,湖北武汉430072

出　　处：《中国海洋大学学报（社会科学版）》2023年第3期37-52,共16页Journal of Ocean University of China(Social Sciences)

基　　金：国家社会科学基金重点项目“基于利益相关者和谐治理驱动的中国家族企业绿色创新研究”(22AGL015)。

摘　　要：企业绿色创新对企业经济绩效与环境保护具有双重贡献。以2010—2020年中国沪深两市A股非金融类上市公司为研究样本,实证检验了女性高管参与对企业绿色创新的影响。研究发现,女性高管参与会显著抑制企业绿色创新,且控股股东的控制权与现金流权两权分离会强化这一抑制作用。异质性分析发现,较之于绿色实用新型专利,女性高管参与对绿色发明专利的抑制作用更强。机制检验表明,高管团队风险偏好在女性高管参与抑制企业绿色创新的机制中起到部分中介作用。进一步研究发现,在女性高管平均受教育水平较低、民营产权性质、位于内陆地区、两职分离的企业中,女性高管参与对企业绿色创新的抑制作用更显著。本研究为企业绿色创新研究提供了新视角,研究结论对企业实施绿色创新战略及政府部门制定相关政策具有启示意义与参考价值。Enterprise green innovation has dual contribution to enterprise economic performance and environmental protection.Based on the 2010-2020 Chinese Shanghai and Shenzhen A-share non-financial listed companies as the research samples,the paper empirically tests the impact of female executive participation on enterprise green innovation.The study finds that the participation of female executives will significantly inhibit enterprise green innovation,and the separation of control rights and cash flow rights of controlling shareholders will strengthen this inhibitory effect.Heterogeneity analysis shows that female executives'participation has a stronger inhibitory effect on green invention patents than green utility model patents.The mechanism test shows that the risk preference of the senior management team plays a partial intermediary role in the mechanism of female executives'participation in inhibiting enterprise green innovation.Further research shows that in enterprises with lower average education level of female executives,private property rights,located in inland areas,and job separation,female executives'participation has a more significant inhibitory effect on enterprise green innovation.The paper provides a new perspective for the study of enterprise green innovation,and the conclusions of the study have enlightenment significance and reference value for enterprises to implement green innovation strategy and governmental departments to formulate relevant policies.

关 键 词：女性高管参与 企业绿色创新 控制权 现金流权 高管团队风险偏好 

分 类 号：F271[经济管理—企业管理]