Female Bank Executives: Impact on Performance and Risk Taking Substitutes?
This paper studies the impact of female executives on the performance and risk taking of US banks. With a sample of US banks from 2002 to 2010, we find that the inclusion of female executives increases bank performance after addressing endogeneity and reverse causality issues. We also provide evidence that female executives decrease the risk taking of banks. These results suggest that there is added value to having female executives on the executive team. We also find that a more balanced gender ratio results in a greater impact on bank performance and risk taking. This supports the argument to increase gender diversity in executive level positions for females.
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