This study examines the joint effect of CEO gender and government ownership on firm performance. Using data from the Chinese market from 2005 to 2016, we show that firms with female CEOs and government ownership have significantly better performance. The magnitude of this effect is much bigger in central state-owned enterprises (CSOEs) than that in local state-owned enterprises (LSOEs). The mechanisms of the improved firm performance of female-CEO-run and state-owned enterprises (SOEs) are identified as increased profitability and operating efficiency. Our results are robust to additional tests that mitigate the sample selection bias and other endogeneity issues. Our results are consistent with the explanations that (1) female CEOs in the SOEs have better access to political resources due to their better communication skills; (2) female CEOs better adapt to the mitigated turnover-firm performance relationship (less pressure) in SOEs; (3) female CEOs are more likely to explore their management skills in a more secured and a less pressured work environment provided by the Chinese SOEs. The results are of relevance to CEOs, boards of directors, and policy makers.

CEO Gender, Government Ownership, and Firm Performance: Evidence from China

Spark: The AAA’s first digital meeting format for academics and practicing accountants

[Spark Website](https://aaahq.org/Meetings/2020/Spark)

[Benefits for Presenters](https://aaahq.org/Meetings/2020/Spark/Presenter-Benefits)

[Register](https://aaahq.org/Meetings/Meeting-Info/sessionaltcd/20SPARK06)

Spark Presentation Gallery

The American Accounting Association is the largest community of accountants in academia. Founded in 1916, we have a rich and reputable history built on leading-edge research and publications. The diversity of our membership creates a fertile environment for collaboration and innovation. Collectively, we shape the future of accounting through teaching, research and a powerful network, ensuring our position as thought leaders in accounting.