文献类型：期刊文献

英文题名：Boardroom Gender Diversity on Stock Liquidity: Empirical Evidence from Chinese A-share Market

作者：Ye, Jianhua[1];Zhang, Huaping[2];Cao, Ceyuan[2];Wei, Feifei[2];Namunyak, Muruve[2]

第一作者：叶建华

通讯作者：Ye, JH[1]

机构：[1]Henan Univ Econ & Law, Sch Accounting, 180 East Jinshui Rd, Zhengzhou 450046, Henan, Peoples R China;[2]North China Univ Water Resources & Elect Power, Sch Management & Econ, Zhengzhou, Peoples R China

第一机构：河南财经政法大学会计学院

通讯机构：[1]corresponding author), Henan Univ Econ & Law, Sch Accounting, 180 East Jinshui Rd, Zhengzhou 450046, Henan, Peoples R China.|[104845]河南财经政法大学会计学院;[10484]河南财经政法大学;

年份：2021

卷号：57

期号：11

起止页码：3236-3253

外文期刊名：EMERGING MARKETS FINANCE AND TRADE

收录：;Scopus(收录号：2-s2.0-85082828844);WOS:【SSCI(收录号:WOS:000523027800001)】；

基金：This work was supported by National Natural Science Foundation of China [grant number 71602049]; Postgraduate Education Reform Project of Henan Province [grant number 2019SJGLX002Y], [grant number 2019SJGLX098Y]; Humanities-Society Scientific Research Projects of Henan Education Department [grant number 2020-ZZJH-262]; Young backbone teacher training plan of Henan Province; and Young Talents Fund of Henan University of Economics and Law.

语种：英文

外文关键词：boardroom gender diversity; female director ownership; investor sentiment; stock liquidity

摘要：The corporate governance effect of boardroom gender diversity has attracted more and more attention in theory and practice, but less attention is paid to whether boardroom gender diversity affects stock liquidity, which is the core indicator of capital market efficiency. Taking listed companies in Chinese A-share market during 2002 and 2017 as sample, this study focuses on the influence of boardroom gender diversity on stock liquidity. We find that (1)the boardroom gender diversity increases stock liquidity significantly; (2) the effect of boardroom gender diversity on stock liquidity is more significant in firms with more female director ownership than in firms with less female director ownership; and (3) the findings above are more significant in low investor sentiment period. This research enriches the researches on the drivers of stock liquidity and on the consequences of boardroom gender diversity. The conclusions of this article are also useful for the design of boardroom gender structure, and for improving the effect and efficiency of investor education.