Female CEOs and firm performance during COVID-19 pandemic: An empirical analysis of Italian-listed firms

Abstract

The COVID-19 pandemic has been a disruptive and unexpected event that has impacted businesses worldwide. It is necessary to investigate the characteristics of companies that enable them to face and respond to this critical situation more effectively. The purpose of the present study is to determine whether the presence of a female CEO during unanticipated critical events affects a company’s performance. Given the increasing significance of gender at the highest levels of management, more research has been conducted on female leadership. However, there is limited research on female leadership during disruptive periods and events. Over the course of 3 years (2017–2020), an empirical analysis was conducted on a sample of Italian publicly traded companies, meaning that data was collected and analyzed during the COVID-19 pandemic. The results indicate that female leadership during the pandemic has a positive impact on the performance of the company.