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Skillnader i företags riskprofil mellan manliga och kvinnliga finanschefer i svenska fastighetssektorn

Bergqvist, Klas LU ; Johansson, Magnus and Karlsson, Julia (2025) FEKH69 20251
Department of Business Administration
Abstract
Problem background and research problem:
Previous research has shown that demographic characteristics of corporate executives can influence financial decision-making. According to Upper Echelons Theory, factors such as gender, age and experience play a role in shaping strategic decisions. However, research on the role of CFOs remains limited, especially within capital-intensive industries like the Swedish real estate sector. As a result, there is uncertainty regarding the extent to which a CFO’s gender affects a company’s financial risk profile.
Purpose:
The purpose of this study is to examine whether there are differences in financial risk profiles between companies with male and female CFOs in the Swedish real estate sector, based on... (More)
Problem background and research problem:
Previous research has shown that demographic characteristics of corporate executives can influence financial decision-making. According to Upper Echelons Theory, factors such as gender, age and experience play a role in shaping strategic decisions. However, research on the role of CFOs remains limited, especially within capital-intensive industries like the Swedish real estate sector. As a result, there is uncertainty regarding the extent to which a CFO’s gender affects a company’s financial risk profile.
Purpose:
The purpose of this study is to examine whether there are differences in financial risk profiles between companies with male and female CFOs in the Swedish real estate sector, based on the framework of Upper Echelons Theory and to what extent other factors such as age, employment duration and company size influence the risk profile.
Method:
The study applies a quantitative approach and is based on secondary data from annual reports of 30 publicly listed Swedish real estate firms during the period 2019-2023. Three financial ratios were used as indicators of risk profile: debt ratio, interest coverage ratio and cash holdings. Statistical analyses include t-tests, ANOVA and MANOVA.
Conclusion:
The results show that the CFO’s gender does not have a statistically significant effect on corporate risk profiles. However, age and company size are associated with debt levels and cash holdings. This suggests that gender plays a limited role within this context and that external factors and organizational characteristics may be more influential than individual demographic attributes. (Less)
Please use this url to cite or link to this publication:
author
Bergqvist, Klas LU ; Johansson, Magnus and Karlsson, Julia
supervisor
organization
course
FEKH69 20251
year
type
M2 - Bachelor Degree
subject
keywords
Keywords: CFO, gender differences, risk profile, real estate sector, Upper Echelons Theory, quantitative method, debt ratio, interest coverage ratio, cash holdings.
language
Swedish
id
9211313
date added to LUP
2025-09-16 10:15:50
date last changed
2025-09-16 10:15:50
@misc{9211313,
  abstract     = {{Problem background and research problem:
Previous research has shown that demographic characteristics of corporate executives can influence financial decision-making. According to Upper Echelons Theory, factors such as gender, age and experience play a role in shaping strategic decisions. However, research on the role of CFOs remains limited, especially within capital-intensive industries like the Swedish real estate sector. As a result, there is uncertainty regarding the extent to which a CFO’s gender affects a company’s financial risk profile.
Purpose:
The purpose of this study is to examine whether there are differences in financial risk profiles between companies with male and female CFOs in the Swedish real estate sector, based on the framework of Upper Echelons Theory and to what extent other factors such as age, employment duration and company size influence the risk profile.
Method:
The study applies a quantitative approach and is based on secondary data from annual reports of 30 publicly listed Swedish real estate firms during the period 2019-2023. Three financial ratios were used as indicators of risk profile: debt ratio, interest coverage ratio and cash holdings. Statistical analyses include t-tests, ANOVA and MANOVA.
Conclusion:
The results show that the CFO’s gender does not have a statistically significant effect on corporate risk profiles. However, age and company size are associated with debt levels and cash holdings. This suggests that gender plays a limited role within this context and that external factors and organizational characteristics may be more influential than individual demographic attributes.}},
  author       = {{Bergqvist, Klas and Johansson, Magnus and Karlsson, Julia}},
  language     = {{swe}},
  note         = {{Student Paper}},
  title        = {{Skillnader i företags riskprofil mellan manliga och kvinnliga finanschefer i svenska fastighetssektorn}},
  year         = {{2025}},
}