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Female Ceos And Investment Efficiency In The Vietnamese Market, Jun Myung Song, Chune Young Chung
Female Ceos And Investment Efficiency In The Vietnamese Market, Jun Myung Song, Chune Young Chung
Sim Kee Boon Institute for Financial Economics
This paper proposes female CEOs’ overconfidence and risky behavior stem from gender stereotype threats. With two subsamples in Vietnam—firms in the Northern and Southern regions–we empirically show that female CEOs in the North, where there is less gender stereotype, tend to overinvest relative to male CEOs. However, in the South, they are indifferent. Additional analysis reinforces the main finding that female CEOs from the North tend to take more risks even when dealing with market volatility and uncertainty (e.g., the COVID-19 pandemic). Such risky behaviors of female CEOs in the North do not deteriorate firm value but instead, possibly improve …
Air Pollution, Regulations On Emission And Firms' Social Responsibility, Jun Myung Song
Air Pollution, Regulations On Emission And Firms' Social Responsibility, Jun Myung Song
Sim Kee Boon Institute for Financial Economics
This paper examines whether firms adjust their strategy in emission when air pollution is severe. Considering high PM 2.5 as severe air pollution across 65 countries, I show that firms from countries with severe air pollution have low emission score, suggesting that they put less effort in reducing emission. This is because if they improve emission strategy, firm performance deteriorates. However, such relationship disappears when the government’s environmental stringency is strong, suggesting that government’s intervention is crucial for sustainable environment. This paper concludes with analysis on the factors which can mediate the negative impact of air pollution on firms’ emission …