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
Citation
SONG, Jun Myung and CHUNG, Chune Young.
Female CEOs and investment efficiency in the Vietnamese market. (2023). Finance Research Letter. 58, 1-11.
Available at: https://ink.library.smu.edu.sg/skbi/31
Copyright Owner and License
Authors
Creative Commons License
This work is licensed under a Creative Commons Attribution-NonCommercial-No Derivative Works 4.0 International License.
Additional URL
https://doi.org/10.1016/j.frl.2023.104362
Included in
Asian Studies Commons, Corporate Finance Commons, Leadership Studies Commons, Strategic Management Policy Commons