International Journal of Business and Economics Volume 21, No. 1 June, 2022

The Impact of Female CEOs and CFOs on Financial and Corporate Social Responsibility Reporting

Meng Huang

University of Toledo, 2801 Bancroft St, Toledo, OH 43606, USA.

Wei-Cheng (Milton) Shen

University of Alabama – Huntsville, 301 Sparkman Drive, Huntsville, AL, 35811, USA.

Cynthia C. Vines

University of Kentucky, 550 S Limestone, Lexington, KY 40506, USA.

David Ziebart

University of Kentucky, 550 S Limestone, Lexington, KY 40506, USA.

Abstract

By analyzing a longitudinal dataset from 2004 to 2019, we examine the impact of having a female CEO, CFO, and other chief executives on the likelihood of issuing a Corporate Social Responsibility (CSR) report and the tradeoff between CSR reports and traditional annual reports (ARs). Results indicate that companies with female CFOs are more likely to provide CSR reports and replace their traditional ARs with CSR reports. While the gender of the CFO matters in reporting choices, consistent evidence is not found with female CEO or other chief executives.

Keywords：Female Executives, Annual Reports, Corporate Social Responsibility Reporting.

JEL Classifications：M14, M48, M41.

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