Female CEOs, Returns and Risk in Spanish Publishing Firms
| Autor: | Antonio Mínguez-Vera, Juan Francisco Martín-Ugedo, Luis Palma-Martos |
|---|---|
| Rok vydání: | 2017 |
| Předmět: |
050208 finance
Variables Return on assets business.industry Strategy and Management media_common.quotation_subject 05 social sciences Balance of trade Public relations Publishing Return on equity Debt 0502 economics and business Position (finance) Demographic economics Business Business and International Management Senior management 050203 business & management media_common |
| Zdroj: | European Management Review. 15:111-120 |
| ISSN: | 1740-4754 |
| DOI: | 10.1111/emre.12132 |
| Popis: | This study examines the influence of CEO gender on returns and risk for a sample of 2,157 Spanish publishing firms in 2013. The publishing sector is relevant in Spain, in terms of output, because of its positive contribution to the cultural sector's trade balance and also because it plays a key strategic role in a knowledge-based society. Previous evidence suggests that women in senior management position affect the performance of firms and also the level of risk that the firm is exposed to. Our results show that publishing companies whose CEO is female have greater returns. This result is observed when both the return on assets and the return on equity are considered as the dependent variable. When we focus on risk, we find a lower debt level and lower financial leverage when the CEO is a woman. |
| Databáze: | OpenAIRE |
| Externí odkaz: |
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