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| 論文名稱 | The effect of female CEO and CFO on tail risk and firm value |
| 發表日期 | 2022-06-09 |
| 論文收錄分類 | SSCI |
| 所有作者 | Li-Hsun Wang, Hung-Gay Fung |
| 作者順序 | 第一作者 |
| 通訊作者 | 是 |
| 刊物名稱 | Finance Research Letters |
| 發表卷數 | |
| 是否具有審稿制度 | 是 |
| 發表期數 | |
| 期刊或學報出版地國別/地區 | NATUSA-美國 |
| 發表年份 | 2021 |
| 發表月份 | 12 |
| 發表形式 | 電子期刊 |
| 所屬計劃案 | 科技部 |
| 可公開文檔 |
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| 可公開文檔 |
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| 可公開文檔 |
[摘要] :
This study investigates the effects of female CEOs and CFOs on stock tail risk and firm value. Results using the Taiwan data show the female CEOs have a positive effect on stock tail risk whereas the female CFOs have a negative effect. Female CEOs stimulate growth of the firm by undertaking more external investments with M&As that increase the tail risk, while CFOs promote organic growth of the firm using R&Ds and interact with R&Ds to reduce tail risk. Both female executives improve firm value.
[英文摘要] :
This study investigates the effects of female CEOs and CFOs on stock tail risk and firm value. Results using the Taiwan data show the female CEOs have a positive effect on stock tail risk whereas the female CFOs have a negative effect. Female CEOs stimulate growth of the firm by undertaking more external investments with M&As that increase the tail risk, while CFOs promote organic growth of the firm using R&Ds and interact with R&Ds to reduce tail risk. Both female executives improve firm value.
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