Educate to innovate: STEM directors and corporate innovation

Women directors and firm innovation: The role of women directors' representative function

“…Third, while we included information on women directors' representative function as a second diversity dimension, we have no information on the educational background of the board directors. This, however, might be interesting to consider in future research, as Hsieh et al (2022) showed directors with a STEM background to be positively linked to firm innovation. Future studies might also want to take into account a potential interaction between board members' gender and, for example, biographic information to check the robustness of our results and thus further contribute to an enhanced understanding of the mechanisms that link board gender diversity and firm innovation.…”

“…To account for potential reversed causality, we run our analyses with a time lag of 1 year as we cannot exclude that more innovative firms are more likely to appoint women to their boards or that women self‐select onto the boards of more innovative firms (see Bendig, 2022; Dittmann et al, 2010; and Farrell & Hersch, 2005, for a similar procedure). To further account for reversed causality, we include a two‐year lead as well as a one‐year lead of women − percent, women shareholder side − percent , and women employee side − percent to test for strict exogeneity (see, e.g., Engle et al, 1983; Hsieh et al, 2022; Jeong & Harrison, 2017). We find the corresponding explanatory variables for women directors to be exogenous in all models.…”

Digital transformation and environmental performance: Evidence from Chinese resource‐based enterprises

“…Referring to Shen et al (2022), and Hsieh et al (2022), all control variables are defined as follows. (1) Enterprise's age ( Age ), which is measured by the years of establishment of the enterprise; (2) Enterprise's size ( LnSize ), which is measured by taking the natural logarithm of the total assets of the enterprise; (3) Enterprise's growth ( Growth ), which is characterized by the growth rate of the enterprise's operating income; (4) Enterprise's asset‐liability ratio ( Leverage ), which is measured by the ratio of total liabilities to total assets; (5) Enterprise's liquidity ( Liquidity ), which is measured by the ratio of enterprise current assets to current liabilities; (6) Net profit margin on total assets ( ROA ), which is measured by the ratio of enterprise's net profit to total assets.…”

“…The enterprise's environmental management system discloses a series of regulations and responsibilities formulated by the enterprise. If the enterprise has formulated an environmental protection management system, the value is 1, otherwise it is 0.4.2.4 | Control variablesReferring toShen et al (2022), andHsieh et al (2022), all control variables are defined as follows. (1) Enterprise's age (Age), which is measured by the ratio of the sum of stock market value and debt book value to the book value of total assets; (8) Regional economic development level (LnPGDP), which is measured by the natural logarithm of GDP per capita of each province.…”

Gender diversity and patent quality: Evidence from Chinese patent data

“…Most studies explored the factors from three aspects: enterprises' characteristics, regional factors, and policies. For example, Hsieh et al (2022) found that firms with STEM directors apply for more invention patents and have more R&D expenditures, especially the companies focusing on innovation, because STEM directors may contribute more technical expertise to corporate strategic decisions on innovation activities. Furman et al (2021) used the expansion of USPTO Patent and Trademark Depository Library to explore the effect of information disclosure through patents on subsequent innovation and they found that local patenting increases sharply after the patent library opens, which plays a role through the disclosure of the technical information in patent documents.…”