The Impact of Female TMT on Supply Chain Risk Management through Information Transparency and Corporate Innovation

This study empirically examines the impact of female top management teams (TMT) on supply chain risk management performance using data from Chinese A-share listed companies from 2001 to 2021. Through methodologies such as PSM-DID, OLS, instrumental variables, and quantile regression, the research demonstrates that female TMT significantly reduce supply chain concentration, thereby enhancing risk management outcomes. Mechanism tests reveal that female TMT improve supply chain performance by enhancing information transparency and fostering corporate innovation. Additionally, the level of human capital positively moderates this relationship, and heterogeneity analysis shows that the effect is more pronounced in state-owned enterprises. The study provides theoretical and practical insights into gender diversity in TMT and its role in building resilient supply chains.本研究以2001至2021年中国A股上市公司数据为样本，实证检验了女性高层管理团队（Top Management Team, TMT）对供应链风险管理绩效的影响。本研究采用倾向得分匹配-双重差分法（PSM-DID）、普通最小二乘回归（OLS）、工具变量法以及分位数回归等研究方法，实证结果表明，女性高层管理团队能够显著降低供应链集中度，进而提升风险管理成效。机制检验显示，女性高层管理团队可通过提升信息透明度、促进企业创新来改善供应链绩效。此外，人力资本水平对该关系具有正向调节作用，异质性分析结果表明，该效应在国有企业中更为显著。本研究为高层管理团队的性别多样性及其在构建韧性供应链中的作用提供了理论与实践参考。