News Sentiment and Corporate Governance: Evidence from CEO Gender

被引:0
|
作者
Chiu, Ya-Ling [1 ]
Hung, Chin-Chao [2 ]
Li, Tao [3 ]
Liu, Hung-Chun [4 ]
机构
[1] Zhejiang Yuexiu Univ, Sch Int Business, Shaoxing, Peoples R China
[2] Chang Jung Christian Univ, Dept Finance, Tainan, Taiwan
[3] Chongqing Univ Technol, Sch Accounting, 69 Hongguang Ave, Chongqing 400054, Peoples R China
[4] Chung Yuan Christian Univ, Dept Finance, Taoyuan City, Taiwan
关键词
News sentiment; risk-taking; CEO gender; G30; G32; MEDIA; PERFORMANCE; LEADERSHIP; POLICIES;
D O I
10.1080/1540496X.2024.2449461
中图分类号
F [经济];
学科分类号
02 ;
摘要
This study uses the Google machine learning platform to measure news sentiment and examine how the sentiment of firm-specific released news relates to the risk level of publicly listed Chinese firms. Our results show that positive (negative) sentiment leads to a lower (higher) risk-taking level. In addition, after exploring the explanations for risk-taking differentials in response to released news, we find that female CEOs are an important mechanism linking news sentiment to firm risk. Intuitively, our results imply that female CEOs are more risk-averse than their male counterparts. Our main findings remain valid after performing several robustness tests.
引用
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页数:12
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