Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/90090
Authors: 
Parrotta, Pierpaolo
Smith, Nina
Year of Publication: 
2013
Series/Report no.: 
IZA Discussion Paper 7613
Abstract: 
This paper investigates the relationship between gender of the CEO and composition of the board of directors (female chairman and share of women in the boardroom) and firm's risk attitudes measured as variability in four firm outcome variables (investments, profits, return to equity, and sales). Using a merged employer-employee panel sample of Danish companies with more than 50 employees, we find extensive evidence of a negative association between female CEO and firm's risk attitudes. This finding might be consistent with the theoretical assumption according to which women typically present a substantially higher risk aversion profile and put more effort in monitoring firm activities than men in the financial matter domains. A number of robustness checks corroborate and better explain our main findings.
Subjects: 
firm performance
risk aversion
female CEO
JEL: 
G34
J16
L25
Document Type: 
Working Paper

Files in This Item:
File
Size
603.71 kB





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.