CEO Gender, Corporate Risk-Taking, and the Efficiency of Capital Allocation

Mara Faccio, Maria-Teresa Marchica, Roberto Mura

Research output: Working paper

Abstract

We show that CEO gender helps explain corporate decision making. In particular, we document that firms run by female CEOs have lower leverage, less volatile earnings, and a higher chance of survival than firms run by male CEOs. We further document that this risk-avoidance behavior leads to distortions in the capital allocation process. In particular, female CEOs tend to under invest in comparison to male CEOs. These results have important macroeconomic implications for long-term growth.
Original languageEnglish
Publication statusPublished - Jun 2011

Publication series

NameSSRN
No.1969782

Keywords

  • ender, risk-taking, capital allocation

Fingerprint

Dive into the research topics of 'CEO Gender, Corporate Risk-Taking, and the Efficiency of Capital Allocation'. Together they form a unique fingerprint.

Cite this