Study on the Impact of CEOS Gender on Firm Risk-Taking

Abstract

This study explored the impact of gender differences in chief executives on their risk taking in innovation decision-making. The research objective of this article is paper were: (1) To analyze the current situation of respondents in investment risk variables;  (2) To analyze the current situation of respondents in terms of financial risk variables;  (3) To analyze the gender differences in the risk taking variables of enterprises among respondents of different genders.

This paper adopted quantitative research methods and a questionnaire survey to conduct a sampling survey on the CEO of small and medium-sized high-tech enterprises from Beijing, China. The distribution of this questionnaire was 422 copies, and 418 valid questionnaires were collected and analyzed to verify the research hypothesis of this article.

The research results found that: (1) respondents have a medium to high level of investment risk bearing towards the enterprise; (2) The respondents have a moderate to high level of financial risk exposure to the company; (3) There are significant differences in the variables of corporate risk taking among CEOs of different genders. By comparing the means, it can be seen that female CEOs of small and medium-sized high-tech enterprises are more inclined to avoid corporate risk than male CEOs. By explored the level of enterprise risk taking in the innovation decision-making process of CEOs of different genders, further reference suggestions are provided for enterprises to choose suitable enterprise managers and decision-makers for current development.

Keywords: CEO, gender difference, corporate risk-taking, Investment risk-taking, financial risk-taking.

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Master of Business Administration (International Program), Siam University, Bangkok, Thailand