| Number |
CREPEDP-146 |
| Publication Date |
August 2023 |
| Title |
CEO Gender Bias in the Formation of
Firm-to-Firm Transactions |
| Author |
Yutaro Izumi, Hitoshi Shigeoka, and Masayuki Yagasaki
|
| Abstract |
While female CEOs are under-represented, the barriers they face in the business
environment remain poorly understood. This study investigates the in
uence of
gender bias in forming CEOs' business networks. Using transaction data of 1
million Japanese firms, we find that CEOs of the same gender significantly trade
more than those of the opposite gender, mostly driven by small- and medium-sized
firms in which CEOs presumably have a strong involvement in transactions. As
most CEOs are male, such same-gender bias reduces the trading opportunities for
females relative to male CEOs. Regarding mechanisms, our survey revealed both
the existence of barriers that impede male CEOs from becoming acquainted with
female CEOs and the tendency for male CEOs to prefer interacting with male
CEOs over female CEOs.
|
| Keywords |
Gender; Homophily; CEO; Firm-to-Firm Transactions; TSR data
|
| Other information |
Paper in English (64 pages) |