Title: Comparative analysis of financial performance of companies with female CEOs and companies without female CEOs

Authors: Tyler T. Yu, Victoria Johnson, Miranda M. Zhang

Addresses: School of Business, Georgia Gwinnet College, 1000 University Center Lane, Lawrenceville, GA 30043, USA. ' School of Business, Georgia Gwinnet College, 1000 University Center Lane, Lawrenceville, GA 30043, USA. ' School of Business, Georgia Gwinnet College, 1000 University Center Lane, Lawrenceville, GA 30043, USA

Abstract: Despite the plethora of research on women serving in senior management positions, there is still a dearth of efforts concerning the relationship between gender and the financial bottom line. The fundamental question remains: Is the financial performance of companies with female top executives, however scarce the data may be, different from the financial performance of those with male top executives? If there are differences, then how significant are the differences, and in which areas? The purpose of this study is to examine the financial performance of companies with executive-level women, those who are sitting in boardrooms, and compare them with those without female executives. Using statistical analyses, this study will conduct hypothesis tests to examine differences in financial performance between companies with female CEOs and those without. Conclusions will be drawn based on these statistical analyses.

Keywords: female CEOs; financial analysis; hypothesis test; financial performance; senior management; women; gender; female top executives.

DOI: 10.1504/IJEBR.2009.024019

International Journal of Economics and Business Research, 2009 Vol.1 No.2, pp.204 - 213

Published online: 23 Mar 2009 *

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