She'‐e‐os: gender effects and investor reactions to the announcements of top executive appointments

IF 1 4区医学 Q3 MEDICINE, GENERAL & INTERNAL Southern Medical Journal Pub Date : 2007-03-01 DOI:10.1002/SMJ.575

Peggy M. Lee, E. H. James

引用次数: 432

Abstract

This study uses Kanter's token status theory to link announcements of top executives to shareholder reactions, highlighting possible gender effects. Using a sample of top executive announcements from 1990 to 2000, our results show that investor reactions to the announcements of female CEOs are significantly more negative than those of their male counterparts. Furthermore, women who have been promoted from within a firm are viewed more positively than women who come from outside. To supplement our analysis of investor reactions, we also analyze the text of popular press articles surrounding the announcements of male and female CEOs. These results show that articles about the appointment of a female CEO tend to emphasize gender, gender-related and other job or organizational considerations. Copyright © 2007 John Wiley & Sons, Ltd.

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性别效应和投资者对高管任命公告的反应

本研究使用坎特的象征性地位理论将高管公告与股东反应联系起来，突出了可能的性别影响。利用1990年至2000年的高管公告样本，我们的研究结果表明，投资者对女性ceo公告的反应明显比男性同行更为负面。此外，从公司内部晋升的女性比从外部晋升的女性更被看好。为了补充我们对投资者反应的分析，我们还分析了围绕男性和女性首席执行官公告的流行媒体文章的文本。这些结果表明，关于女性CEO任命的文章倾向于强调性别、性别相关以及其他工作或组织方面的考虑。版权所有©2007 John Wiley & Sons, Ltd

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来源期刊

Southern Medical Journal 医学-医学：内科

CiteScore

1.40

自引率

9.10%

发文量

222

审稿时长

4-8 weeks

期刊介绍： As the official journal of the Birmingham, Alabama-based Southern Medical Association (SMA), the Southern Medical Journal (SMJ) has for more than 100 years provided the latest clinical information in areas that affect patients'' daily lives. Now delivered to individuals exclusively online, the SMJ has a multidisciplinary focus that covers a broad range of topics relevant to physicians and other healthcare specialists in all relevant aspects of the profession, including medicine and medical specialties, surgery and surgery specialties; child and maternal health; mental health; emergency and disaster medicine; public health and environmental medicine; bioethics and medical education; and quality health care, patient safety, and best practices. Each month, articles span the spectrum of medical topics, providing timely, up-to-the-minute information for both primary care physicians and specialists. Contributors include leaders in the healthcare field from across the country and around the world. The SMJ enables physicians to provide the best possible care to patients in this age of rapidly changing modern medicine.