Legal regulation of directors gender diversity
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D922.291.91

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    Abstract:

    Board diversity has become a new focus of corporate governance recently. Some researches have shown that on the quality side,it can improve the quality of corporate governance;while on the quantity side,it can enhance the company's performance. At the same time, it also practices the concept of gender equality at the private level. However, unconscious gender discrimination and industry restrictions, dominant director male power and personal hero governance culture, female Symbolism label entanglement, closed director appointment and removal mechanism and other factors hinder women from entering the board of directors.The regulatory framework for this issue is not only constrained by company law, but also by legal norms such as securities law and exchange listing rules at the level of listed companies. Therefore, because of the importance of gender, many nations have launched a soft and mandatory reforming movement to improve the structure of the board of directors, break the gender imbalance in the board of directors, and increase the proportion of female directors. These measures include quota laws, mandatory disclosure rules for diversity information, comply or explain corporate governance guidelines, corporate self-restraints, etc. The political tradition of a country, corporate governance model, business culture, the pressure model of corporate law system competition will affect the selection of regulation measures. Therefore, establishing a gender diversified board of directors regulatory approach for Chinese companies cannot simply imitate other countries' models. In order to promote gender diversity among directors, based on the existing regulations methods and realistic effect of the boardroom diversity in China, and referring to foreign experiences and lessons learned, support and refine Article 25 of the Governance Rules for Listed Companies; Following the Comply or Explain Rule, establish information disclosure for directors based on board diversity and the Comply or Explain Rule gender diversity rules; Establish a quota bill targeting listed companies/state-owned enterprises and provid certain support for women's entrepreneurship funds at non normative levels.Implementing a phased construction path of autonomy first, mandatory supplementation and listed companies as the main body, state-owned enterprises as the auxiliary, should be the logical choice. It can also be discovered that different Chinese landscapes can be found in today's seemingly homogenized corporate governance.

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薛前强.董事性别结构多样化的法律规制[J].重庆大学学报社会科学版,2023,(3):237~249

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  • Received:
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  • Online: July 13,2023
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