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CEO age and CEO gender: Are female CEOs older than their male counterparts?

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  • Withisuphakorn, Pradit
  • Jiraporn, Pornsit

Abstract

Motivated by the debate on gender inequality, we study CEO gender and CEO age. Because women face significantly more obstacles in advancing their careers, it may take them longer to reach the top position, i.e. the chief executive officer (CEO). If this is the case, female CEOs should be older than their male counterparts on average. Our evidence shows that female CEOs are actually younger on average, approximately two full years younger than male CEOs, after controlling for firm and board characteristics. The two-year difference represents as much as 26% of the standard deviation in CEO age.

Suggested Citation

  • Withisuphakorn, Pradit & Jiraporn, Pornsit, 2017. "CEO age and CEO gender: Are female CEOs older than their male counterparts?," Finance Research Letters, Elsevier, vol. 22(C), pages 129-135.
    • Handle: RePEc:eee:finlet:v:22:y:2017:i:c:p:129-135
    DOI: 10.1016/j.frl.2016.12.026
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    References listed on IDEAS

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    Cited by:

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    2. Wang, Li-Hsun & Fung, Hung-Gay, 2022. "The effect of female CEO and CFO on tail risk and firm value," Finance Research Letters, Elsevier, vol. 47(PB).
    3. Xin Liu, 2023. "Fear to lose? An analysis of CEO successors’ decision-making regarding R&D intensity based on behavioral agency theory," Asian Business & Management, Palgrave Macmillan, vol. 22(1), pages 403-430, February.
    4. Hrazdil, Karel & Novak, Jiri, 2023. "Executive personality and the gender pay gap," Finance Research Letters, Elsevier, vol. 53(C).
    5. Tani, Massimiliano & Valentine, Andrew & Sharpe, Kieran, 2022. "The Gender Pay Gap in the CEOs' Labor Market," IZA Discussion Papers 15781, Institute of Labor Economics (IZA).
    6. Ammar Ali Gull & Ammar Abid & Rashid Latief & Muhammad Usman, 2021. "Women on board and auditors’ assessment of the risk of material misstatement," Eurasian Business Review, Springer;Eurasia Business and Economics Society, vol. 11(4), pages 679-708, December.
    7. Dina El Mahdy & Fatima Alali, 2023. "Female CFOs and managerial opportunism," Review of Quantitative Finance and Accounting, Springer, vol. 60(3), pages 1161-1207, April.

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    More about this item

    Keywords

    Female CEOs; Gender diversity; CEO age; Women CEOs; Corporate culture;
    All these keywords.

    JEL classification:

    • M14 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Corporate Culture; Diversity; Social Responsibility
    • G30 - Financial Economics - - Corporate Finance and Governance - - - General

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