RT info:eu-repo/semantics/article
T1 Executive gender and firm leverage decisions: The role of firm ownership and governance
A1 De Massis, Alfredo
A1 Muñoz Bullón, Fernando
A1 Sánchez Bueno, María J.
A1 Velasco González, María Del Pilar
A1 Vismara, Silvio
K1 Board independence
K1 Family ownership
K1 Female leadership
K1 Leverage
AB Female leadership in strategic decision-making has received considerable attention in the context of global gender inequality. To advance our understanding of the role of executive gender in corporate financing decisions, we examine whether family firms are less likely to use leverage than their non-family counterparts when they have a female leader (considering CEO and board chair as leadership positions). In addition, we examine whether board independence influences gender differences in the use of leverage in family firms. Drawing on the behavioral agency model (BAM) and socioemotional wealth (SEW) theory, we develop and empirically test our hypotheses using a large dataset of firms from 40 countries. Our results show that family ownership increases the reluctance of female-led firms to use leverage, but board independence mitigates this effect.
PB Elsevier
SN 0148-2963
YR 2024
FD 2024-06
LK https://uvadoc.uva.es/handle/10324/69822
UL https://uvadoc.uva.es/handle/10324/69822
LA eng
NO Journal of Business Research, Junio 2024, vol. 179, 114700.
NO Producción Científica
DS UVaDOC
RD 18-sep-2024