Abstract

Leadership at the top of firms is largely performed by men. One reason for this male dominance in top leadership positions has been found in the congruity of male gender and leadership roles. Both – men as well as leaders – are assumed to show agentic behavior. We build on the assumption of the congruity of male gender and leadership roles, yet take it beyond biology. We hypothize that CEOs of both sexes are rewarded by investors for behaving agentic in an IPO setting. We use a mixed method approach to investigate this phenomenon. We conduct a field study analyzing videos of CEOs during road show events complemented by an experimental study were investment decision based on CEO agentic behavior will be made under experimental conditions.

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