The Impact of Women Directors on Executive-Staff Pay Dispersion

DOI

10.2991/assehr.k.220107.047How to use a DOI?

Keywords

women directors; executive-staff pay dispersion (ESPD); human capital theory; principal-agent theory

Abstract

This paper explores the relationship between the women directors’ participation degree and the ESPD by using an unbalanced panel sample, which consists of 1554 firm-year observations collected from 2010-2018 among energy companies listed on the Shenzhen and Shanghai stock exchanges in China. Based on the multiple linear regression analysis methods, the correlation analysis, and the fixed effects regression, the empirical analysis has come to three findings. Firstly, on the whole, women directors have a negative effect on the ESPD. Secondly, the negative effect of women directors on the ESPD has been reduced into a zero effect due to the issue of the Salary Restriction Order, which indicates that there is a significant substitution effect between women directors’ salary supervision and the governments’ salary regulation. Thirdly, women directors indirectly affect the ESPD by weakening other stakeholders’ original attitudes towards the ESPD. The issue of the impact of women directors on ESPD has not been explored to an acceptable extent in the existing literature, and this study fills the gap.

Copyright

© 2022 The Authors. Published by Atlantis Press SARL.

Open Access

This is an open access article under the CC BY-NC license.

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TY  - CONF
AU  - Qianying Wang
AU  - Changzheng Zhang
PY  - 2022
DA  - 2022/01/20
TI  - The Impact of Women Directors on Executive-Staff Pay Dispersion
BT  - Proceedings of the 4th International Seminar on Education Research and Social Science (ISERSS 2021)
PB  - Atlantis Press
SP  - 242
EP  - 246
SN  - 2352-5398
UR  - https://doi.org/10.2991/assehr.k.220107.047
DO  - 10.2991/assehr.k.220107.047
ID  - Wang2022
ER  -