Does Female Leadership Boost Firm Profitability?

Annu Kotiranta, Anne Kovalainen and Petri Rouvinen

No 1110, Discussion Papers from The Research Institute of the Finnish Economy

Abstract: Less than a tenth of Finnish firms CEOs and chairmen of the board are women; less than a fourth of Finnish firms board members are women. An empirical regression analysis of a large firm-level data set suggests that a company led by a women CEO is on average about ten per cent more profitable than a corresponding company led by a man, even after taking into account a number other factors (such as firm size and industry) possibly affecting profitability. The share of woman board members also has a similar impact. The effect of the chairmans gender is statistically insignificant. These findings are partial correlations; due to data limitations neither causality nor underlying factors are studied

Keywords: gender; equality; discrimination; firm; profitability; corporate governance (search for similar items in EconPapers)
JEL-codes: J16 J71 L25 M14 M51 (search for similar items in EconPapers)
Pages: 23 pages
Date: 2007
References: Add references at CitEc
Citations: View citations in EconPapers (3)

Downloads: (external link)
http://www.etla.fi/wp-content/uploads/2012/09/dp1110.pdf (application/pdf)

Related works:
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:rif:dpaper:1110

Ordering information: This working paper can be ordered from
https://www.etla.fi/en/publications/dp1110-en/

The price is 10€.

Access Statistics for this paper

More papers in Discussion Papers from The Research Institute of the Finnish Economy Contact information at EDIRC.
Bibliographic data for series maintained by Kaija Hyvönen-Rajecki ().