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She-E-Os and the Cost of Debt: Do Female CEOs Pay Less for Credit?

  • Muhammad Usman , Muhammad Umar Farooq EMAIL logo , Junrui Zhang , Muhammad Abdul Majid Makki und Junqin Sun
Veröffentlicht/Copyright: 25. September 2018

Abstract

Does the CEO’s gender matter to lenders? Using data from 2006 to 2015 for listed companies in China, we find reliable evidence that lenders charge firms led by female CEOs (She-E-Os) less for debt than they do from firms led by male. In addition, we find that the leadership structure of state-owned enterprises (SOEs) also matters to lenders because SOEs with female CEOs have lower cost of debt than do those with male CEOs. Our findings remain consistent after controlling for endogeneity issue.

JEL Classification: J16; O16

Funding statement: This work was supported by the National Natural Science Foundation of China, Grant Number: 71472148

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Published Online: 2018-09-25

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Heruntergeladen am 26.9.2025 von https://www.degruyterbrill.com/document/doi/10.1515/bejeap-2018-0177/html
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