Female CEOs and investment efficiency in the Vietnamese market

Author

Jun Myung SONG, Singapore Management UniversityFollow
Chune Young CHUNG, Chung-Ang University

Publication Type

Report

Version

publishedVersion

Publication Date

6-2023

Abstract

This paper proposes female CEOs’ overconfidence and risky behavior stem from gender stereotype threats. With two subsamples in Vietnam—firms in the Northern and Southern regions–we empirically show that female CEOs in the North, where there is less gender stereotype, tend to overinvest relative to male CEOs. However, in the South, they are indifferent. Additional analysis reinforces the main finding that female CEOs from the North tend to take more risks even when dealing with market volatility and uncertainty (e.g., the COVID-19 pandemic). Such risky behaviors of female CEOs in the North do not deteriorate firm value but instead, possibly improve firm performance.

Keywords

female CEOs, Vietnam, gender, stereotype

Discipline

Asian Studies | Finance and Financial Management | Human Resources Management | Leadership Studies | Strategic Management Policy

Research Areas

Finance

First Page

1

Last Page

22

Publisher

Sim Kee Boon Institute for Financial Economics

City or Country

Singapore

Embargo Period

6-18-2023

Citation

SONG, Jun Myung and CHUNG, Chune Young. Female CEOs and investment efficiency in the Vietnamese market. (2023). 1-22.
Available at: https://ink.library.smu.edu.sg/skbi/27

Copyright Owner and License

Singapore Management University

Creative Commons License

This work is licensed under a Creative Commons Attribution-NonCommercial-No Derivative Works 4.0 International License.