女性高管具有风险偏好较低、稳健、有责任感和亲和力等优点，很少像男性高管一样由于过度自信而进行破坏性收购或者过度投资，因此女性高管可以使企业承担更低的风险，减少不确定性，有利于提高企业价值，且更少地为了提高自身的业绩、期望达到监管要求或者获得投资者的青睐而进行盈余管理。对上述理论进行实证检验，以杠杆率和资产收益率的波动率作为风险承担水平的衡量指标，通过回归和筛选有高管变更的样本再回归，发现拥有女性高管的公司相对于男性高管所在公司风险承担水平更低。进而运用修正的琼斯模型和业绩匹配的琼斯模型，发现女性高管所在公司的应计盈余管理显著低于高管全部为男性的公司，即会提高企业的盈余质量。本文的研究结论支持并呼吁企业吸纳女性高管，这样可以降低企业风险，有利于企业的存续和发展，提高会计信息的质量。同时希望社会认识到女性的优势和价值，给女性更多施展才能的机会。

Female executives have the advantages of low risk appetite, steadiness, responsibility and affinity. They rarely do destructive acquisitions or over-investment due to overconfidence like male executives, so female executives can make companies afford lower risk, reduce uncertainty, and help to increase corporate value. Due to the responsibility, they are less likely to manage their earnings in order to improve their performance and expect the company's earnings to be better to meet the requirements of regulators or investors. Through the volatility of leverage ratio and return on assets as a measure of risk-taking level, I use empirical analysis to test the above theory. The study found that companies that have female executives tend to have lower levels of risk-taking than companies with male executives. Then, using the modified Jones model and the performance-matched Jones model, I found that the accrued earnings management of the company which has the female executives is significantly lower than that of company which only has male executives. The presence of female executives will improve the earnings quality of the company. The research conclusions of this paper support and appeal to enterprises to appoint women as executives, which can reduce corporate risks, facilitate the survival and development of enterprises, and improve the quality of accounting information. At the same time, I hope that the society will recognize the advantages and values of women and give women more opportunities to display their talents.