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Golfing CEOs

Author

Listed:
  • Izumi, Yutaro
  • Shigeoka, Hitoshi
  • Yagasaki, Masayuki

Abstract

Izumi et al. (2023) document the existence of CEO gender homophily in firm-to-firm transactions, where CEOs of the same gender are more likely to trade more than those of the opposite gender, putting female CEOs at a disadvantage in a male-dominated business landscape. In this paper, we examine whether informal networking tools, in particular playing golf as a hobby, mitigate this disadvantage for female CEOs. Using a unique dataset that includes both CEO hobbies and detailed inter-firm networks, we show that playing golf does not benefit female CEOs in finding male business partners, while for male CEOs playing golf is associated with a higher share of trading with male CEOs. This result suggests that women’s participation in traditionally male-dominated socializing activities does not necessarily help them gain access to male business networks.

Suggested Citation

  • Izumi, Yutaro & Shigeoka, Hitoshi & Yagasaki, Masayuki, 2024. "Golfing CEOs," Labour Economics, Elsevier, vol. 91(C).
    • Handle: RePEc:eee:labeco:v:91:y:2024:i:c:s0927537124001350
    DOI: 10.1016/j.labeco.2024.102639
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    References listed on IDEAS

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    1. Sumit Agarwal & Wenlan Qian & David M. Reeb & Tien Foo Sing, 2016. "Playing the Boys Game: Golf Buddies and Board Diversity," American Economic Review, American Economic Association, vol. 106(5), pages 272-276, May.
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    9. Yutaro Izumi & Hitoshi Shigeoka & Masayuki Yagasaki, 2023. "CEO Gender Bias in the Formation of Firm-to-Firm Transactions," NBER Working Papers 31616, National Bureau of Economic Research, Inc.
    10. Raj Chetty & Matthew O. Jackson & Theresa Kuchler & Johannes Stroebel & Nathaniel Hendren & Robert B. Fluegge & Sara Gong & Federico Gonzalez & Armelle Grondin & Matthew Jacob & Drew Johnston & Martin, 2022. "Social capital II: determinants of economic connectedness," Nature, Nature, vol. 608(7921), pages 122-134, August.
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    Keywords

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    JEL classification:

    • D22 - Microeconomics - - Production and Organizations - - - Firm Behavior: Empirical Analysis
    • J16 - Labor and Demographic Economics - - Demographic Economics - - - Economics of Gender; Non-labor Discrimination
    • L14 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Transactional Relationships; Contracts and Reputation
    • Z13 - Other Special Topics - - Cultural Economics - - - Economic Sociology; Economic Anthropology; Language; Social and Economic Stratification

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