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He Said, She Said: Investor Reactions To Ceo Gender And Earnings Guidance Disclosure In The Presence Of Shareholder Activism, Scott C. Jackson
He Said, She Said: Investor Reactions To Ceo Gender And Earnings Guidance Disclosure In The Presence Of Shareholder Activism, Scott C. Jackson
Doctoral Dissertations
This study addresses concerns from the SEC and examines the trend of shareholder activism and its impact on financial players. Specifically, I examine how the nature of the shareholder activism (Profitability-focused versus Environmental/Social-focused) interacts with CEO gender to create perceptions of match or mismatch within nonprofessional investors, in terms of perceived ability to address the shareholder activism. Drawing on role-congruity theory, I predict and find that when a perceived match exists, investment willingness is increased, with the greatest differences occurring when the CEO does not disclose earnings guidance information. Given recent trends that show increased disclosure of earnings guidance in …