The influence of female CEO on the company's profitability: empirical analysis of Russian banks

Menlebaev R.R.¹, Galiakhmetova R.R.¹, Oman E.S.¹
¹ Казанский (Приволжский) федеральный университет, Russia

Journal paper

Leadership and Management ^{(РИНЦ, ВАК)}
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Volume 9, Number 3 (July-september 2022)

Citation:

Indexed in Russian Science Citation Index: https://elibrary.ru/item.asp?id=49548306

Abstract:
The subjective assessments formed as a result of stereotypes and prejudices should not become an obstacle to getting a manager position. In this regard, the purpose of this article is to study the existence of the influence of female CEO on the profitability of the company. Special attention is paid to the analysis of the prerequisites for gender inequality in Russia from a historical point of view. After analyzing previous studies on this topic, the authors argue that in cases where the Chief Executive Officer of a Russian bank is a woman, financial indicators do not deteriorate or slightly improve. The authors test the theory using 15 years of panel data from 139 Russian public and non-public banks. The obtained multiple regression allows to conclude that the authors' hypothesis is correct. Consequently, when considering candidates for the position of Chief Executive Officer, the board of directors of Russian banks can be confident that the gender of their future CEO will not have any significant impact.

Keywords: CEO gender, profitability, Russian banks

JEL-classification: G34, M14, M51

Highlights:

• Ключевым фактором установления равноправия является внутренняя политика страны;
• Высокий процент женщин в топ-менеджменте российских компаний — следствие политики Советского Союза;
• В 2019 год доля представительниц женского пола на посту председателя правления в российских банках составляла 26%;
• ROA (return on assets) немного выше, когда банк возглавляет женщина;
• Пол председателя правления не влияет на ROE (return on equity).

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