Outperformance of Listed Companies with Female CEOs in Vietnam

Om Feb 9, Mekong Capital announced the results of an internal study that it recently conducted on the performance of publicly listed Vietnamese companies based on the gender of the CEOs of those companies. Over the two year period commencing on 2 January 2007 and ending 16 January 2009:

Companies with female CEOs delivered an average annualized return to shareholders of -17.1%; Companies with male CEOs delivered an average annualized return to shareholders of -38.8% and The average market return over this period was an annualized -34.9%.

The average return data was weighted by ending market capitalization. 7.5% of the number of listed companies in Vietnam have female CEOs, while 18.3% of the market capitalization of listed companies in Vietnam are companies with female CEOs.

 

Mr. Chris Freund, Managing Partner of Mekong Capital, said “While the period of this study is too short to draw any meaningful conclusions about long term performance, the results are consistent with our anecdotal observations since the mid-1990s that many of the best companies in Vietnam are led by female CEOs.”