| Summary: | The issue of women goes out of their families to work in enterprises and gradually become
senior managers is becoming more and more common. In this context, first, this study focuses
on studying the role of the gender diversity and board of director for corporate financial
performance. Second, this study considers the importance of internal control for corporate
financial performance as a moderating factor between gender diversity and corporate
financial performance. Third, this study highlights the significance of internal control for
improving corporate financial performance. Lastly, this study uses the role of internal control
as a moderating factor in the association between board of director and corporate financial
performance. This study uses panel data of 814 A-share listed companies (8140 observations)
in China from 2012 to 2021 and employs different dynamic panel regression models and
robustness test. This study concludes following: first, the gender diversity has significance for
improving the corporate financial performance. Second, board of director helps to improve
the corporate financial performance. Third, internal control helps to enhance the corporate
financial performance. Fourth, internal control positively affects between gender diversity
and corporate financial performance. Fifth, internal control is beneficial to the board of
director and corporate financial performance. This study looking at the female director from
the different perspective by relating it to the special situation in China in the corporate
governance study. This study contributes to look at indirect effect of internal control in the
relationship.
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