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Does Female Top Managers’ Debt Preference Shift? If Firm Experiences Sales Growth

Sunardi, Sunardi, Damayanti, Theresia Woro and Supramono, Supramono (2021) Does Female Top Managers’ Debt Preference Shift? If Firm Experiences Sales Growth. International Journal of Economics and Finance Studies, 13 (1). pp. 90-109. ISSN 1309-8055 (Online)

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This study seeks to investigate the gender differences indebt preference and whether firms led by female top managers shift their debt preferences when they experience rapid sales growth. The research sample consistsof 18,683 firms in 98 developing countries. The data is obtained from the 2016-2018 World Bank's productivity and the investment climate survey. This study uses the robust standard error to test the relationships among variables. The results show that female top managers have a lower preference for using debt as a financing source, especially for capitalgoods acquisitionscompared to male top managers. The findings suggest that women-led firms do not shift their debt preference even when they experience high sales growth.This study is useful for policymakers who want to develop regulations regarding female mangers decisions related to the debt financing as well as their behavior in case of high sales growth towards debt financing.

Item Type: Article
Additional Information: Sunardi NIDN: 0719086101
Uncontrolled Keywords: debt, gender, sales growth, female top manager, financial sources
Subjects: H Social Sciences > HD Industries. Land use. Labor > HD28 Management. Industrial Management
H Social Sciences > HG Finance
H Social Sciences > HQ The family. Marriage. Woman
Divisions: Fakultas Ekonomi dan Bisnis > D3 Perbankan dan Keuangan
Depositing User: Rita Juliani
Date Deposited: 12 Apr 2023 15:57
Last Modified: 12 Apr 2023 15:57

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