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Do female CEOs make a difference in firm operations? Evidence from Vietnam
Author(s) -
Vo Lai Van,
Nguyen Hazel ThuHien,
Le Huong Thi Thu
Publication year - 2021
Publication title -
accounting and finance
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.645
H-Index - 49
eISSN - 1467-629X
pISSN - 0810-5391
DOI - 10.1111/acfi.12634
Subject(s) - vietnamese , profitability index , business , accounting , government (linguistics) , systematic risk , volatility (finance) , work (physics) , demographic economics , finance , economics , mechanical engineering , philosophy , linguistics , engineering
This paper examines the effect of gender in corporate leadership on the performance and risk of Vietnamese listed firms. We find that firms with female CEOs generate higher profitability than those with male CEOs. In addition, firms led by female CEOs experience less systematic and idiosyncratic risks as well as lower volatility in their returns on assets. These results are robust under different regression specifications. Our results support the hypothesis that women offer unique perspectives, experiences and work styles that benefit firms and that provide evidence for continuing government efforts to improve gender equality in Vietnam.