Executives’ gender-diversity, education, and firm's bankruptcy risk: Evidence from China

Document Type

Article

Publication Date

6-1-2021

Abstract

We empirically investigate the relationship between the gender-diversity and bankruptcy risks in Chinese-listed manufacturing firms. We also investigate whether the executives’ education level moderates the relationship between the gender-diversity and bankruptcy risk. Using a sample of 4079 firm-year observations from 2005–2016, we find that, at the executives’ level, firms with greater gender-diversity have a lower propensity for bankruptcy risk compared to firms with lower gender-diversity. More importantly, we find that the higher educational level strengthens this negative relationship between gender-diversity and bankruptcy.

Publication Title

Journal of Behavioral and Experimental Finance

DOI

10.1016/j.jbef.2021.100500

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