Gender and Bankruptcy: A Hotel Survival Econometric Analysis

Abstract

This study’s objective was to understand how chief executive officers’ (CEOs) gender affects hotel businesses’ survival. Female managers’ influence has already been examined in other sectors, but researchers have not studied women CEOs’ role in hotel management and survival. A sample of 2615 Spanish hotel companies was examined during the period 2005–2018 for how their survival was affected by the variables of financial aspects, years of experience and the principal hotel executive’s gender. An econometrics-based survival analysis was conducted using a single complementary log-log model and panel data. The results indicate that some financial variables, such as sales, working capital to total assets ratio and each company’s experience, influence hotel businesses’ survival. The main finding was that women CEOs increase hotels’ survival rate. This CEO gender study is a novelty in the literature on hotel survival.