caa a22 4500 605483752 CHVBK 20210128100432.0 cr unu---uuuuu 210128e20151001xx s 000 0 eng 10.1007/s10551-014-2288-3 doi (NATIONALLICENCE)springer-10.1007/s10551-014-2288-3 Are Female CEOs and Chairwomen More Conservative and Risk Averse? Evidence from the Banking Industry During the Financial Crisis [Elektronische Daten] [Ajay Palvia, Emilia Vähämaa, Sami Vähämaa] This paper examines whether bank capital ratios and default risk are associated with the gender of the bank's Chief Executive Officer (CEO) and Chairperson of the board. Given the documented gender-based differences in conservatism and risk tolerance, we postulate that female CEOs and board Chairs should assess risks more conservatively, and thereby hold higher levels of equity capital and reduce the likelihood of bank failure during periods of market stress. Using a large panel of U.S. commercial banks, we document that banks with female CEOs hold more conservative levels of capital after controlling for the bank's asset risk and other attributes. Furthermore, while neither CEO nor Chair gender is related to bank failure in general, we find strong evidence that smaller banks with female CEOs and board Chairs were less likely to fail during the financial crisis. Overall, our findings are consistent with the view that gender-based behavioral differences may affect corporate decisions. Springer Science+Business Media Dordrecht, 2014 Female CEOs nationallicence Chairwomen nationallicence Bank capital ratios nationallicence Bank failures nationallicence Financial crisis nationallicence Palvia Ajay Office of the Comptroller of the Currency, 400 7th Street, SW, 20219, Washington, DC, USA aut Vähämaa Emilia Department of Finance and Statistics, Hanken School of Economics, P.O. Box 287, 65101, Vaasa, Finland aut Vähämaa Sami Department of Accounting and Finance, University of Vaasa, P.O. Box 700, 65101, Vaasa, Finland aut Journal of Business Ethics Springer Netherlands 131/3(2015-10-01), 577-594 0167-4544 131:3<577 2015 131 10551 https://doi.org/10.1007/s10551-014-2288-3 text/html Onlinezugriff via DOI BK010053 XK010053 XK010000 Metadata rights reserved Springer special CC-BY-NC licence nationallicence 1 research-article jats NATIONALLICENCE NATIONALLICENCE NL-springer NATIONALLICENCE 856 40 https://doi.org/10.1007/s10551-014-2288-3 text/html Onlinezugriff via DOI NATIONALLICENCE 700 1- Palvia Ajay Office of the Comptroller of the Currency, 400 7th Street, SW, 20219, Washington, DC, USA aut NATIONALLICENCE 700 1- Vähämaa Emilia Department of Finance and Statistics, Hanken School of Economics, P.O. Box 287, 65101, Vaasa, Finland aut NATIONALLICENCE 700 1- Vähämaa Sami Department of Accounting and Finance, University of Vaasa, P.O. Box 700, 65101, Vaasa, Finland aut NATIONALLICENCE 773 0- Journal of Business Ethics Springer Netherlands 131/3(2015-10-01), 577-594 0167-4544 131:3<577 2015 131 10551