Does female leadership matter in firm risk-taking and performance? Evidence from gender equality reforms in an emerging market

Thi Thuy Anh Vo, Thi Nam Thanh Nguyen, Darren Henry, Manh Toan Nguyen and Nathan Lael Joseph

Applied Economics, 2023, vol. 55, issue 60, 7127-7149

Abstract: Our article examines the impact of board gender diversity and female leadership on firm risk-taking and firm performance in Vietnam under the implementation of the National Strategy on Gender Equality. We find that female CEOs are associated with lower firm risk-taking and an increase in firm accounting returns is attributed to a transition from male to female CEOs. Further, board gender diversity is independently identified to lower firm risk-taking and female leadership (i.e. female CEOs and chairwomen) generates higher accounting profit (measured by ROA) for their businesses under this reform agenda.

Date: 2023
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DOI: 10.1080/00036846.2023.2206106

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