Do female CEOs make a difference in firm operations? Evidence from Vietnam

Lai Van Vo, Hazel Thu‐Hien Nguyen and Huong Thi Thu Le

Accounting and Finance, 2021, vol. 61, issue S1, 1489-1516

Abstract: This paper examines the effect of gender in corporate leadership on the performance and risk of Vietnamese listed firms. We find that firms with female CEOs generate higher profitability than those with male CEOs. In addition, firms led by female CEOs experience less systematic and idiosyncratic risks as well as lower volatility in their returns on assets. These results are robust under different regression specifications. Our results support the hypothesis that women offer unique perspectives, experiences and work styles that benefit firms and that provide evidence for continuing government efforts to improve gender equality in Vietnam.

Date: 2021
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https://doi.org/10.1111/acfi.12634

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