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| Research on the Impact of Female Business Owners on OFDI in Family Firms |
| XIAO Xiao, LI Qing，DAN Xiaoning，CAI Dongning1 |
| 1.Guangdong University of Foreign Studies， Guangzhou， China；2.Sun Yat-sen University， Guangzhou， China |
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Abstract Based on social emotional wealth theory, this research explores the impact of female business owners on OFDI of family firms, suggesting that female business owners’ outstanding performance in OFDI is due to their full utilization of family and firm resources. Results of empirical analysis using panel data from family firms listed in Shanghai and Shenzhen stock exchanges from 2009 to 2019 shows that：the degree of OFDI is greater when the family firm’s owner is female. The positive relationship between female family business owners and firm OFDI is positively moderated by family financial resources, the proportion of directors who had overseas experience and the proportion of females directors.
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Received: 28 April 2022
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