Note(s): This table reports the OLS estimation results of robustness tests on the impact of clan culture on female executive representation. The dependent variable in Column (1), Column (3), Column (4) and Column (5), FERatio, is measured as the percentage of females in top management teams including board of directors, supervisory board members and top executives. The dependent variable in Column (2), FERatio_management, is measured as the percentage of females in top executives. The independent variable in Column (1), Clan_Surname, is measured as the proportion of the top three surnames in the city where the firm is incorporated. The independent variable in Column (2) to (5), Clan, is measured as the number of genealogies per 10,000 residents in the city where the firm is incorporated. Other variable definitions are provided in Table 1. Industry- and year-fixed effects are included in all columns. Province-fixed effect is included in Column (4). Standard errors are clustered at the city level in Column (5). Coefficient estimates are reported in the row above the t-statistics in parentheses. ***, **, and * denote two-tailed significance at the 0.01, 0.05, and 0.10 levels