Impact of CEO gender on capital structure of listed firms in Vietnam

This study investigates the impact of CEO gender on corporate capital structure using a sample of 136 listed companies in Vietnam from 2010 to 2023, employing GLS and propensity score matching (PSM) regression methods. The findings reveal that firms led by female CEOs tend to adopt lower financial leverage and pursue more conservative financial strategies compared to those led by male CEOs. These results are robust across both regression techniques. In addition, the study highlights the influence of stock returns, profitability (return on assets), firm size, asset tangibility, and operating expenses on corporate capital structure. Based on these findings, the study offers practical implications for corporate governance and boards of directors, emphasizing the role of CEO characteristics in shaping financial decision-making and risk management strategies.