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Working Capital Management: Evidence from Gender Differences

Author

Listed:
  • Meera Behera

    (Georgian Court University, USA)

  • Natasha Burns

    (The University of Texas at San Antonio, USA)

  • Kristina Minnick

    (Bentley University, USA)

Abstract

This study examines the impact of female CEOs and CFOs on working capital management. We find that firms led by female executives manage the working capital cycle more efficiently and aggressively, resulting in a shorter cash conversion cycle and lower working capital requirements. Female CEOs are associated with improvements in operational efficiency, while female CFOs influence the financing aspects of working capital, contributing to higher cash holdings.

Suggested Citation

  • Meera Behera & Natasha Burns & Kristina Minnick, 2025. "Working Capital Management: Evidence from Gender Differences," Quarterly Journal of Finance (QJF), World Scientific Publishing Co. Pte. Ltd., vol. 15(01), pages 1-41, March.
    • Handle: RePEc:wsi:qjfxxx:v:15:y:2025:i:01:n:s2010139225500028
    DOI: 10.1142/S2010139225500028
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    More about this item

    Keywords

    Cash holdings; working capital; managerial characteristics; CEO gender;
    All these keywords.

    JEL classification:

    • G30 - Financial Economics - - Corporate Finance and Governance - - - General
    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • G35 - Financial Economics - - Corporate Finance and Governance - - - Payout Policy
    • J16 - Labor and Demographic Economics - - Demographic Economics - - - Economics of Gender; Non-labor Discrimination

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