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Top executive gender and credit risk an analysis for North American firms
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Top executive gender and credit risk: An analysis for North American firms
This study examines the relationship between the CEO and CFO gender in large, public North American firms and credit risk, through the analysis of filings and delisting for bankruptcy, from 2007 to 2016. Using panel logit regressions for two models with similar specifications to those used by Campbell et al. (2008), I find with some statistical significance that, everything else constant, firms with females in these top positions are only less than 0.02 percentage points more likely to file or be delisted for bankruptcy, thus concluding that gender has relatively no effect on firm creditworthiness.
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Gender Bankruptcy Credit risk Logit model Top executives