{"title":"日本公司董事会中的女性首席执行官与公司业绩","authors":"Katsuyuki Kubo, Thanh Thi Phuong Nguyen","doi":"10.1016/j.jjie.2021.101163","DOIUrl":null,"url":null,"abstract":"<div><p>This paper examines the effects of female chief executive officers (CEOs) on firm performance. Using data on nonfinancial listed firms in Japan, we show that only 0.8% of some 42,000 firm-year observations have female CEOs. There is also little evidence that firms appoint more females as CEOs during our sample period. While the stock market reacts positively to the introduction of a firm's first female CEO, the relationship between CEO gender and firm accounting performance is generally not strong. However, when we classify the type of female CEO, the estimated coefficient for a founder female CEO and Tobin's Q is positive and significant.</p></div>","PeriodicalId":47082,"journal":{"name":"Journal of the Japanese and International Economies","volume":"62 ","pages":"Article 101163"},"PeriodicalIF":2.6000,"publicationDate":"2021-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1016/j.jjie.2021.101163","citationCount":"9","resultStr":"{\"title\":\"Female CEOs on Japanese corporate boards and firm performance\",\"authors\":\"Katsuyuki Kubo, Thanh Thi Phuong Nguyen\",\"doi\":\"10.1016/j.jjie.2021.101163\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"<div><p>This paper examines the effects of female chief executive officers (CEOs) on firm performance. Using data on nonfinancial listed firms in Japan, we show that only 0.8% of some 42,000 firm-year observations have female CEOs. There is also little evidence that firms appoint more females as CEOs during our sample period. While the stock market reacts positively to the introduction of a firm's first female CEO, the relationship between CEO gender and firm accounting performance is generally not strong. However, when we classify the type of female CEO, the estimated coefficient for a founder female CEO and Tobin's Q is positive and significant.</p></div>\",\"PeriodicalId\":47082,\"journal\":{\"name\":\"Journal of the Japanese and International Economies\",\"volume\":\"62 \",\"pages\":\"Article 101163\"},\"PeriodicalIF\":2.6000,\"publicationDate\":\"2021-12-01\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"https://sci-hub-pdf.com/10.1016/j.jjie.2021.101163\",\"citationCount\":\"9\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"Journal of the Japanese and International Economies\",\"FirstCategoryId\":\"96\",\"ListUrlMain\":\"https://www.sciencedirect.com/science/article/pii/S0889158321000423\",\"RegionNum\":3,\"RegionCategory\":\"经济学\",\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"Q1\",\"JCRName\":\"ECONOMICS\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"Journal of the Japanese and International Economies","FirstCategoryId":"96","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/S0889158321000423","RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"ECONOMICS","Score":null,"Total":0}
Female CEOs on Japanese corporate boards and firm performance
This paper examines the effects of female chief executive officers (CEOs) on firm performance. Using data on nonfinancial listed firms in Japan, we show that only 0.8% of some 42,000 firm-year observations have female CEOs. There is also little evidence that firms appoint more females as CEOs during our sample period. While the stock market reacts positively to the introduction of a firm's first female CEO, the relationship between CEO gender and firm accounting performance is generally not strong. However, when we classify the type of female CEO, the estimated coefficient for a founder female CEO and Tobin's Q is positive and significant.
期刊介绍：
The Journal of the Japanese and International Economies publishes original reports of research devoted to academic analyses of the Japanese economy and its interdependence on other national economies. The Journal also features articles that present related theoretical, empirical, and comparative analyses with their policy implications. Book reviews are also published.
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