女性管理者對公司績效之影響-以臺灣上市櫃公司為例

Abstract

全球女性任職公司高階管理者的趨勢日益上升，女性管理者於公司治理、管理風格、整體經營都有所不同，公司在多元的管理下成效表現更加卓著，本研究目的即在探討女性管理者對公司經營績效之影響。本研究從女性董事長、女性總經理與公司經營績效分析，樣本資料取自臺灣經濟新報資料庫，含括2003年至2017年共13年期間臺灣上市櫃公司為研究對象，利用線性迴歸分析法做研究。實證結果發現，女性管理者對於公司經營績效總資產報酬率、股東權益報酬率未有顯著影響，但對公司未來價值績效Tobin’s Q有顯著正相關影響，由此發現，公司的未來市場價值受到管理者為女性的正面影響，也為投資人帶來高度期望。As the times progress and society advances, female achieve higher and higher goals in their career. In present days, the number of female directors and female managers are increasing. This phenomenon is not only because of their different governance style, but also higher firm performance. The purpose of this study is to explore the effects of female senior managers on company performance. This study is based on the analysis of the business performance of the female director, female manager and the company. The sample data is taken from the Taiwan Economic Journal, including the Taiwan listed company for the 13-year period from 2005 to 2017, using linear regression analysis for research. The empirical results show that female managers have no significant influence on the total return on assets and return on equity of the company's operating performance, but have a significant positive correlation with the company's future value performance Tobin's Q. It is found that the company's future market value is growing up with female manager. The positive impact of female managers is also high expectations for investors.