Does gender promote ethical and risk-averse behavior among CEOs? An illustration through related-party transactions

This study provides direct evidence of whether female CEOs are more ethical or risk-averse by investigating the relationship between and related-party transactions (hereafter RPTs). Using a sample Chinese listed firms over 2005−2018, we find that CEO engage in fewer RPTs, suggesting not only but also ethical. Moreover, show firm performance increases when these allow less likely to opportunistic RPTs. Finally, negative association RPTs is pronounced use (i.e., state-owned enterprises).