女性董事對高階主管薪酬的影響

Abstract

本研究使用2011至2020年美國上市公司為樣本探討女性董事，對於兩性高階主管薪酬差異的影響。迴歸分析結果顯示女性董事比率較高的公司兩性高階主管總薪酬差異較小。進一步分析顯示此效果主要來自於固定薪資差異的縮小而非變動薪資。此效果在有三位或以上的女性董事的公司或女性在薪酬委員會的比率較高的公司較為顯著。

This study investigates the impact of female directors on the gender pay gap among top executives in publicly listed companies in the United States from 2011 to 2020. Regression analysis results show that companies with a higher proportion of female directors have smaller gender pay disparities among their top executives. Further analysis reveals that this effect primarily stems from a reduction in the difference of fixed compensation rather than variable compensation. This effect is more pronounced in companies with three or more female directors or where women have a higher representation on the compensation committee.