Metrics
2 Record Views
Journal article
Calm in the storm: Female leadership and firm performance during COVID-19
Corporate Ownership and Control, Vol.22(4), p.63
12/03/2025
Abstract
This study investigates the impact of executive gender on firm performance during the COVID-19 crisis, framed through the lens of behavioural finance. We argue that leadership traits associated with female executives — such as lower overconfidence and a more collaborative, risk-averse approach — serve as a corporate governance mechanism that enhances organizational resilience. Analysing U.S. firms, our difference-in-differences (DiD) models show that female-led firms exhibited superior financial performance during the pandemic. This finding provides clarity to a body of literature previously marked by conflicting results — many of which found a negative or insignificant relationship — by suggesting the crisis context is a critical determinant. These findings contribute to upper echelon theory (UET) by demonstrating that behavioural differences in leadership are a significant determinant of firm outcomes in turbulent environments.
Files and links (1)
Related links
Details
- Title
- Calm in the storm
- Publication Details
- Corporate Ownership and Control, Vol.22(4), p.63
- Resource Type
- Journal article
- Publisher
- Virtus Interpress
- Copyright
- © the author(s)
- Identifiers
- 99381623904406600
- Academic Unit
- Lewis Bear Jr. College of Business; Accounting and Finance
- Language
- English