CEO GENDER AND FIRM PERFORMANCE: EVIDENCE FROM THE COVID-19 PANDEMIC

  • Georgios Koimisis Manhattan College
  • Christos Giannikos Baruch College
  • Jun Lou University of Maine

Abstract

The COVID 19 pandemic precipitated an unprecedented deceleration of economic activities and a stock market crash. The unparalleled shock and the altered risk attitudes present a distinctive opportunity to examine whether the well-established concept of the "glass ceiling" is indicative of latent gender differentials in company performance. Utilizing US financial data, the study employs a range of methodologies to examine whether firms led by female CEOs exhibited the same performance as firms led by male CEOs during 2020-2021. Our empirical results confirm previous findings from the finance literature, as we neither find a systematic difference in returns to holding stock in female-led firms, nor a difference in accounting returns between female-led and male-headed firms.

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Published
2024-08-20
How to Cite
Koimisis, G., Giannikos, C., & Lou, J. (2024). CEO GENDER AND FIRM PERFORMANCE: EVIDENCE FROM THE COVID-19 PANDEMIC. Applied Finance Letters, 13, 201-212. https://doi.org/10.24135/afl.v13i.757
Section
Articles submitted to regular issue