Working Capital Management: Evidence from Gender Differences

This study examines the impact of female CEOs and CFOs on working capital management. We find that firms led by female executives manage the working capital cycle more efficiently and aggressively, resulting in a shorter cash conversion cycle and lower working capital requirements. Female CEOs are associated with improvements in operational efficiency, while female CFOs influence the financing aspects of working capital, contributing to higher cash holdings.

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Publication Details

Journal
Quarterly Journal of Finance
Published
2025-03-01
DOI
https://doi.org/10.1142/s2010139225500028
Primary Topic
Working Capital and Financial Performance
Type
article
Field-Weighted Citation Impact
0.00
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article

Working Capital Management: Evidence from Gender Differences

Kristina Minnick, N. D. Burns, Meera Behera
Quarterly Journal of Finance
Working Capital and Financial Performance
article

Working Capital Management: Evidence from Gender Differences

Kristina Minnick, N. D. Burns, Meera Behera
article en

Abstract

This study examines the impact of female CEOs and CFOs on working capital management. We find that firms led by female executives manage the working capital cycle more efficiently and aggressively, resulting in a shorter cash conversion cycle and lower working capital requirements. Female CEOs are associated with improvements in operational efficiency, while female CFOs influence the financing aspects of working capital, contributing to higher cash holdings.

Quarterly Journal of FinanceVol. 15(01)
Bentley University (US), Georgian Court University (US), The University of Texas at San Antonio (US)
Gender equality
Openalex Percentile: Top 88%
Working Capital and Financial Performance
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