Female leadership and firm performance

Research output: Contribution to journalArticle in a journalpeer-review

5 Scopus citations


This study explores whether companies’ experience benefits when the firm’s CEO and owner are both women. It employs data from the 2009-2014 World Bank Enterprise Surveys (WBES) to measure firms’ performance through growth in sales and productivity. Potential endogeneity was corrected by using the UN Gender Development Index and the average fertility rate as they comply with the exclusion restrictions. The paper uses the Control Function method with a Probit first stage estimation and an OLS main equation. The findings suggest that a female owner strengthens the female CEO’s business skills and leads to better firm performance than when the CEO is a woman and the owner is a man.

Original languageEnglish
Pages (from-to)363-377
Number of pages15
JournalPrague Economic Papers
Issue number3
StatePublished - Jun 2019

Bibliographical note

Publisher Copyright:
© 2019, University of Economics - Prague. All rights reserved.


  • Cross-country data
  • Firm performance
  • Gender
  • Statistical discrimination
  • gender
  • cross-country data
  • statistical discrimination
  • firm performance


Dive into the research topics of 'Female leadership and firm performance'. Together they form a unique fingerprint.

Cite this