Women in Charge: Evidence from Hospitals

ABSTRACT The paper examines the decision‐making, compensation, and turnover of female CEOs in U.S. hospitals. Contrary to the literature on lower‐ranked executives and directors in public firms, there is no evidence that gender differences in preferences for risk or altruism affect decision‐making of hospital CEOs: corporate policies do not shift when women take (or leave) office, and male and female CEOs respond similarly to a major financial shock. However, female CEOs earn lower salaries, face flatter pay‐for‐performance incentives, and exhibit greater turnover after poor performance. Hospital boards behave as though they perceive female CEOs as less productive.

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Publication Details

Journal
The Journal of Finance
Published
2025-04-26
DOI
https://doi.org/10.1111/jofi.13455
Citations
4
Primary Topic
Gender, Labor, and Family Dynamics
Type
article
Field-Weighted Citation Impact
11.60
Controls
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article

Women in Charge: Evidence from Hospitals

Katharina Lewellen
4 citations
The Journal of Finance
Gender, Labor, and Family Dynamics
11.60
article

Women in Charge: Evidence from Hospitals

Katharina Lewellen
article en
4 citations

Abstract

ABSTRACT The paper examines the decision‐making, compensation, and turnover of female CEOs in U.S. hospitals. Contrary to the literature on lower‐ranked executives and directors in public firms, there is no evidence that gender differences in preferences for risk or altruism affect decision‐making of hospital CEOs: corporate policies do not shift when women take (or leave) office, and male and female CEOs respond similarly to a major financial shock. However, female CEOs earn lower salaries, face flatter pay‐for‐performance incentives, and exhibit greater turnover after poor performance. Hospital boards behave as though they perceive female CEOs as less productive.

The Journal of FinanceVol. 80(4)
Baylor University (US), Polis University (AL)
Openalex Percentile: Top 2%
Gender, Labor, and Family Dynamics
11.60
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Women in Charge: Evidence from Hospitals — Katharina Lewellen · The Journal of Finance (2025) | TGRS Research Map | TGRS