The Origins and Real Effects of the Gender Gap: Evidence from CEOs’ Formative Years

Women on boards: The superheroes of tomorrow?

Ran Duchin, Mikhail Simutin and Denis Sosyura

The Review of Financial Studies, 2021, vol. 34, issue 2, 700-762

Abstract: Using individual census records, we provide novel evidence on CEOs’ socioeconomic backgrounds and study their role in investment decisions. Male CEOs allocate more investment capital to male than female division managers. This gender gap is driven by CEOs who grew up in male-dominated families where the father was the only income earner and had more education than the mother. The gender gap also increases for CEOs who attended all-male high schools and grew up in neighborhoods with greater gender inequality. The effect of gender on capital budgeting introduces frictions and erodes investment efficiency.

JEL-codes: D91 G30 G31 G40 J16 J71 (search for similar items in EconPapers)
Date: 2021
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Citations: View citations in EconPapers (8)

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