Underperformance by female CEOs: A more powerful test

Gueorgui Kolev

Economics Letters, 2012, vol. 117, issue 2, 436-440

Abstract: Female CEOs underperform their male counterparts in terms of shareholders’ returns by roughly 0.35% per month. This difference is significant, comparable to the in-sample value premium, somewhat smaller than the equity and momentum premia, and larger than the size premium.

Keywords: Female Chief Executive Officers’ underperformance; Linear factor models; Cluster sample econometric methods; Management style (search for similar items in EconPapers)
JEL-codes: G1 G3 (search for similar items in EconPapers)
Date: 2012
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (15)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:117:y:2012:i:2:p:436-440

DOI: 10.1016/j.econlet.2012.06.028

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