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Strength in numbers or guilt by association? Intragroup effects of female chief executive announcements
Author(s) -
DixonFowler Heather R.,
Ellstrand Alan E.,
Johnson Jonathan L.
Publication year - 2013
Publication title -
strategic management journal
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 11.035
H-Index - 286
eISSN - 1097-0266
pISSN - 0143-2095
DOI - 10.1002/smj.2076
Subject(s) - association (psychology) , psychology , perception , event (particle physics) , event study , value (mathematics) , social psychology , executive director , demographic economics , business , accounting , management , economics , history , statistics , mathematics , context (archaeology) , physics , archaeology , quantum mechanics , neuroscience , psychotherapist
We predict that the media reports on female CEOs as a coherent group, whereas male CEOs are treated as individuals by the media. We also suggest that the resulting investors' perceptions of group entitativity of female‐led firms may not only influence the succession event–performance relationship at the focal firm, but may also have a significant effect on the value of other female‐led companies. Results of a text analysis and an event study of appointments of female CEOs to Fortune 1000 firms provide support for these predictions . Copyright © 2013 John Wiley & Sons, Ltd.