The Gender of Senior Executives and Corporate Financial Performance: Evidence from Vietnam

Abstract

The gender of the Chief Executive Officer (CEO) is a significant factor influencing corporate governance strategies and financial performance. Gender-based differences may lead to diverse leadership styles, strategic thinking, and decision-making approaches, ultimately affecting overall firm performance. This study examines the relationship between CEO gender and financial performance to gain a deeper understanding of the determinants of corporate success and to provide a scientific basis for informed senior human resource management decisions. The analysis is based on data from 100 non-financial companies listed on the Ho Chi Minh City Stock Exchange (HOSE) over the period 2014–2023. The results indicate that the presence of female CEOs has a positive impact on financial performance, which can be attributed to their generally more cautious approach to risk management and strategic decision-making. Drawing from these findings, the study proposes several recommendations for executive-level human resource practices and offers policy implications to support and encourage female participation in senior leadership roles.