文章以我国2009-2013年度沪市发布社会责任报告的上市公司为样本,实证检验了女性董事对董事会是否对企业社会责任报告内容进行保证的影响(董事会保证)。研究结果表明,女性董事的确使得董事会的决策趋于保守,即当公司中有女性董事、女性董事的比例越高,董事会保证的可能性越低。文章进一步发现,当上市公司处于敏感性行业、非国有企业及环境不确定性程度高的公司时,女性董事对董事会保证的抑制作用显著增加,表明女性董事的风险规避特征是其影响董事会保证的主要原因。文章的研究结论不仅丰富了女性董事在公司决策中的作用研究,还有助于加深对我国企业社会责任信息披露行为的理解。
The paper,taking social responsibility reports released by the listed companies in Shanghai Stock Exchange from2009 to 2013 as the sample,empirically tests the impact of female directors on whether the board is willing to ensure thetruthfulness of social responsibility reports(board's promise). The results indicate that female directors have a significant nega-tive impact on board's promise,namely the existence of female directors and the ratio of female directors in the board are sig-nificantly negatively correlated with board's promise. The further analysis finds that the negative impact of female directors onboard's promise is stronger for the listed companies which are in industries with high CSR concern,non state-owned enterpris-es and high environment uncertainty,which indicates that the characteristics of risk-avoidance of female directors are themain reason that affects board's promise. The conclusions of this study not only enrich the related literature on the role of fe-male directors in corporate decision-making,but also help to deepen the understanding of the behavior of corporate social re-sponsibility information disclosure.