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Do female CEOs make a difference in firm operations? Evidence from Vietnam

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  • Lai Van Vo
  • Hazel Thu‐Hien Nguyen
  • Huong Thi Thu Le

Abstract

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.

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  • Lai Van Vo & Hazel Thu‐Hien Nguyen & Huong Thi Thu Le, 2021. "Do female CEOs make a difference in firm operations? Evidence from Vietnam," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 61(S1), pages 1489-1516, April.
    • Handle: RePEc:bla:acctfi:v:61:y:2021:i:s1:p:1489-1516
    DOI: 10.1111/acfi.12634
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    4. Camilla Ciappei & Simone Terzani & Andrea Bafundi & Giovanni Liberatore, 2023. "Do women empower other women? Empirical evidence of the effect of female pervasiveness on firm risk‐taking," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 63(4), pages 4157-4174, December.

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