Female venture capitalists on boards and firm innovation in China
研究中国女性风险投资家担任董事对企业创新的影响，发现她们能提升创新绩效，并缓解管理层短视、资本市场压力和产品市场竞争对创新的负面影响。
This paper empirically examines the representation of female venture capitalists (VCs) on boards and how they exert substantial influence on firm innovation performance in China. We first identify a positive association between female VCs’ board participation and firm innovation, implying that Chinese female VCs contribute to growing resource commitments and greater success in innovation through quality board services in portfolio firms. We then show that firms with female VC board directors exhibit a lower adverse effect of managerial myopia, capital market pressure, and product market competition on innovation activities. These results are robust to the use of instrumental variable (IV) estimations, subsamples, and alternative variable definitions.