EconPapers    
Economics at your fingertips  
 

Female-Led Firms: Performance and Risk Attitudes

Pierpaolo Parrotta () and Nina Smith ()

No 7613, IZA Discussion Papers from Institute of Labor Economics (IZA)

Abstract: This paper investigates the relationship between gender of the CEO and composition of the board of directors (female chairman and share of women in the boardroom) and firm's risk attitudes measured as variability in four firm outcome variables (investments, profits, return to equity, and sales). Using a merged employer-employee panel sample of Danish companies with more than 50 employees, we find extensive evidence of a negative association between female CEO and firm's risk attitudes. This finding might be consistent with the theoretical assumption according to which women typically present a substantially higher risk aversion profile and put more effort in monitoring firm activities than men in the financial matter domains. A number of robustness checks corroborate and better explain our main findings.

Keywords: firm performance; risk aversion; female CEO (search for similar items in EconPapers)
JEL-codes: G34 J16 L25 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-bec, nep-dem, nep-ent, nep-hrm and nep-upt
Date: 2013-09
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (11) Track citations by RSS feed

Downloads: (external link)
http://ftp.iza.org/dp7613.pdf (application/pdf)

Related works:
Working Paper: Female-led firms: Performance and risk attitude (2014)
Working Paper: Female-led firms: Performance and risk attitude (2014)
Working Paper: Female-led firms: Performance and risk attitudes (2014)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:iza:izadps:dp7613

Ordering information: This working paper can be ordered from
IZA, Margard Ody, P.O. Box 7240, D-53072 Bonn, Germany

Access Statistics for this paper

More papers in IZA Discussion Papers from Institute of Labor Economics (IZA) IZA, P.O. Box 7240, D-53072 Bonn, Germany. Contact information at EDIRC.
Bibliographic data for series maintained by Holger Hinte ().

 
Page updated 2019-09-07
Handle: RePEc:iza:izadps:dp7613