CEO Gender-Based Termination Concerns: Evidence From Initial Severance Agreements

We theorize that female candidates considering CEO roles will perceive greater termination vulnerability in such roles than their male counterparts. We further theorize that indicators of recent organizational distress will exacerbate female CEO candidates’ perceptions of termination vulnerability, while the presence of female leaders will mitigate these concerns. To test our arguments, we examine the initial values of newly appointed female and...