Publication Type

Journal Article

Version

acceptedVersion

Publication Date

12-2023

Abstract

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

Keywords

Female CEOs, Vietnam, Gender, Stereotype

Discipline

Asian Studies | Corporate Finance | Leadership Studies | Strategic Management Policy

Publication

Finance Research Letter

Volume

58

First Page

1

Last Page

11

ISSN

1544-6123

Identifier

10.1016/j.frl.2023.104362

Publisher

Elsevier

Embargo Period

9-4-2023

Copyright Owner and License

Authors

Additional URL

https://doi.org/10.1016/j.frl.2023.104362

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