Looking Through the Corporate Glass Ceiling in China

• Published in: Journal of risk and financial management Vol. 18; no. 8; p. 423
• Main Authors: Zhu, Runping, Huo, Zunbin, Chen, Zeqing, Krever, Richard
• Format: Journal Article
• Language: English
• Published: Basel MDPI AG 01.08.2025
• Subjects: Corporate governance; Economic growth; Equal rights; Equality; Financial markets; Gender equality; Gender equity; Investigations; Listings; Public companies; Regression analysis; Stock exchanges; Stock-exchange; Variables; China
• ISSN: 1911-8074; 1911-8066; 1911-8074
• DOI: 10.3390/jrfm18080423

An important element in the Constitution of the People’s Republic of China is the guarantee of gender equality in all fields. The principle is not reflected in terms of corporate governance and senior management, however. A study of the largest 400 companies listed on Chinese stock exchanges shows far fewer female board members and senior managers than male counterparts and only a small improvement over the course of a decade. A comparison of gender balances in terms of a range of variables, including stock exchange listing, industry type, and ownership type, reveals better balances in wholly privately owned firms than in those with controlling state interests. Subject to intervening government policies to promote state-owned enterprises over private sector counterparts, the pattern over the decade studied suggests there is a possibility privately owned enterprises may gradually displace state-owned companies in the largest 400 group and gender balances in senior roles in the largest 400 group will consequently improve.