The Impact of Female CEOs on Firm's Performance － Example of Electronic Industry Of Taiwan

• Main Authors: Pei-Yun Lien, 連珮昀
• Other Authors: Chin-Jung Luan
• Format: Others
• Published: 2017
• Online Access: http://ndltd.ncl.edu.tw/handle/djfnt2

碩士 === 國立東華大學 === 國際企業學系 === 105 === With the emergence of the female leaders both in political and business fields, more and more studies have been done concerning the effectiveness of the female leaders and CEOs (Chief Executive Officers). The purpose of this study is to investigate the impact of female CEOs on firm’s performance, and to provide meaningful implications to academic research stream and business practitioners. We incorporate the viewpoints of corporate governance into our models, and collect the data from Taiwan Economic Journal (TEJ) to test the proposed hypotheses. The research period is from 2011 to 2015, and the sample is composed of 382 firms, which are also 1,910 observations. Using Hausman test, fixed effects are applied to the models in this research. The results show that the longer the female CEO stays in the position (of CEO) the better the firm’s performance is. However, the ratio of seats of female board members is not correlated to the firm’s performance. Furthermore, the firm’s performance in the past years plays a moderating role in the relationship between female and the firm performance, and in the relationship between duration of female board members and the firm performance. This paper can contribute to the academic research gap concerning the effectiveness of female leader in business field, and can extend the corporate governance perspectives to the female study. Moreover, to the practitioners, appointing female CEOs may lead better firm performance under certain circumstances.