 A counter-stereotype perspective on female CEOs and acquisition intensityGuoguang Wan, Shili Chen, Mingyun Huai, Qian Lu and Lida L. Zhang Journal of Business Research, 2025, vol. 194, issue C Abstract: Previous research suggests that female leaders are less likely to engage in acquisitions than male leaders because of their low agency and high communality. Yet, many female leaders pursue acquisitions more aggressively than male leaders. We draw on gender stereotypes and counter-stereotypical behavior research to address this puzzle. We propose that female CEOs’ strategic decisions are not solely influenced by their personal traits—they also consider how these decisions affect their perceived fit into the top leadership role. Specifically, female CEOs may actively pursue acquisitions to counteract the stereotype that they lack the agentic qualities necessary for effective leaders. This tendencyis particularly pronounced in firms or industries where men predominantly occupy upper echelon positions. We find support for these arguments using a sample of privately listed Chinese firms between 2000 and 2019. Our study highlights that female CEOs do not make strategic decisions in a social vacuum. Keywords: Female CEO; Acquisition; Role incongruity; Counter-stereotypical behaviour; Strategic risk taking (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:eee:jbrese:v:194:y:2025:i:c:s0148296325001900 DOI: 10.1016/j.jbusres.2025.115367 Access Statistics for this article Journal of Business Research is currently edited by A. G. Woodside More articles in Journal of Business Research from Elsevier |
Is your work missing from RePEc? Here is how to contribute.
Questions or problems? Check the EconPapers FAQ or send mail to .
EconPapers is hosted by the
School of Business at Örebro University.