Search results

This research aims to examine the indirect relationship between feminine traits and employee contextual performance through transformational leadership. Additionally, it explored the role of leaders’ sex in moderating the relationship between feminine traits and transformational leadership through a moderated mediation model that subsequently influences employee contextual performance.

This study tested and validated the moderated mediation model using a two-wave survey with 295 samples. Bootstrapping was adopted for model testing.

The results indicated that leaders’ sex moderated the relationship between feminine traits and employee contextual performance through transformational leadership, such that the indirect effect was stronger for female leaders than for male leaders.

Female leaders can improve employee contextual performance by demonstrating transformational leadership with feminine traits. Organizations must implement measures (i.e. training) to promote the acceptance and application of leader gender and gender-role trait diversity, reduce the prevalence of gender stereotypes and help leaders benefit from learning and implementing the effective combination of leadership and feminine traits.

The study demonstrated the joint effects of leaders’ sex (difference) and gender-role traits on employee contextual performance through transformational leadership. These results provide female leaders with feminine traits to gain a leadership advantage and an in-depth understanding of role congruity theory from the perspective of leadership effectiveness.

This study introduces Social Contribution Value per Share (SCVPS), an indicator devised by the Shanghai Stock Exchange (SSE), as an easy-to-interpret Measurement of Corporate Social Performance (MCSP) to the international research arena. The authors first explore the informativeness role of voluntary disclosure of SCVPS in the stock market. The authors then go one step further to demonstrate the relationship between corporate value creation quantified by SCVPS and firm value.

The study takes a new perspective – a quasi-natural experiment of SCVPS disclosure in 2008 and uses a Propensity Score Matched Difference in Difference model (PSM-DiD) to investigate the impact of SCVPS disclosure policy on stock price synchronization and firm value. Through manually recalculating all the values of SCVPS and its components, this study enables us to further investigate the relationship between corporate value creation for various stakeholders and firm value.

This study reveals that voluntary disclosure of SCVPS can signal firm-specific information to the market and reduce noise in returns, thus affecting stock price synchronization. The findings further demonstrate that such firm-specific information has value relevance to firm performance. Moreover, the authors demonstrate that corporate value creation for different stakeholders measured by SCVPS can significantly affect firm value. The moderating effects of ownership structures and industry types are also investigated, and an endogeneity test confirms the robustness of the findings.

This study argues that SCVPS offers an economically viable way for firms, including small-and-medium-sized enterprises, in emerging economies to disclose corporate value creation and provide the public with a direct understanding and appreciation of the values created by corporations for stakeholders.

The result makes contributions to the MCSP literature and explores the informativeness of SCVPS disclosure. Besides, this paper demonstrates that SCVPS offers a good setting to explore the effect of corporate value creation on firm performance in an emerging market.