This study examines the effects of CEO gender on market orientation and performance (growth and profitability) among a sample of small and medium-sized service businesses. Gender was found to have significant indirect effects (via market orientation) on both market performance (growth) and financial performance (profitability). That is, female-led service SMEs perform significantly better due to their stronger market orientation relative those led by males. The findings further suggest that female-led firms were slightly better than their male-led counterparts in transmitting market performance into financial performance, although the differences were not statistically significant.
Davis, P. S., Babakus, E., Englis-Danskin, P., & Pett, T. (2010). The influence of CEO gender on market orientation and performance in service small and medium-sized service businesses. Journal of small business management, 48(4), 475-496. https://doi.org/10.1111/j.1540-627X.2010.00305.x