Table 3.
The effect of CEO gender and experience on digital technology adoption.
| (1) |
(2) |
(3) |
(4) |
(5) |
(6) |
|
|---|---|---|---|---|---|---|
| E-commerce (binary) | E-commerce (binary) | E-commerce (binary) | Remote work (binary) | Remote work (binary) | Remote work (binary) | |
| Female CEO | 0.017 | −0.002 | −0.053** | −0.063*** | ||
| (0.029) | (0.030) | (0.024) | (0.024) | |||
| Log(CEO Experience) | 0.274*** | 0.274*** | 0.153* | 0.156* | ||
| (0.093) | (0.093) | (0.089) | (0.090) | |||
| (Log(CEO Experience))2 | −0.063*** | −0.063*** | −0.044*** | −0.045*** | ||
| (0.018) | (0.018) | (0.017) | (0.017) | |||
| ICT constraints | 0.008 | 0.006 | 0.006 | −0.000 | 0.001 | 0.001 |
| (0.008) | (0.008) | (0.008) | (0.007) | (0.008) | (0.008) | |
| Internet access (binary) | 0.328*** | 0.324*** | 0.324*** | 0.161*** | 0.169*** | 0.168*** |
| (0.033) | (0.033) | (0.033) | (0.029) | (0.030) | (0.030) | |
| Business closure | 0.003 | 0.003 | 0.003 | 0.002 | 0.002 | 0.002 |
| (0.002) | (0.002) | (0.002) | (0.002) | (0.002) | (0.002) | |
| New products/services (binary) | 0.261*** | 0.267*** | 0.267*** | 0.184*** | 0.187*** | 0.189*** |
| (0.036) | (0.036) | (0.036) | (0.034) | (0.034) | (0.034) | |
| Quality certification (binary) | −0.029 | −0.031 | −0.031 | 0.166*** | 0.168*** | 0.168*** |
| (0.028) | (0.028) | (0.028) | (0.033) | (0.034) | (0.034) | |
| R&D expend. (binary) | 0.041 | 0.032 | 0.033 | 0.198*** | 0.191*** | 0.190*** |
| (0.036) | (0.036) | (0.036) | (0.031) | (0.032) | (0.032) | |
| Small size | −0.209*** | −0.222*** | −0.223*** | −0.727*** | −0.732*** | −0.727*** |
| (0.048) | (0.047) | (0.046) | (0.061) | (0.060) | (0.060) | |
| Medium size | −0.040 | −0.062* | −0.062* | −0.418*** | −0.420*** | −0.418*** |
| (0.038) | (0.037) | (0.037) | (0.047) | (0.047) | (0.047) | |
| Log(Age) | −0.064*** | −0.028 | −0.028 | −0.001 | 0.040** | 0.040** |
| (0.016) | (0.019) | (0.019) | (0.018) | (0.019) | (0.019) | |
| Exporting (binary) | −0.042 | −0.049 | −0.050 | 0.072** | 0.079** | 0.079** |
| (0.033) | (0.033) | (0.033) | (0.031) | (0.031) | (0.031) | |
| Foreign owned (binary) | −0.025 | −0.033 | −0.032 | 0.333*** | 0.321*** | 0.321*** |
| (0.036) | (0.035) | (0.035) | (0.034) | (0.035) | (0.034) | |
| Public owned (binary) | −0.112 | −0.133 | −0.131 | −0.239* | −0.283** | −0.278** |
| (0.110) | (0.110) | (0.111) | (0.136) | (0.133) | (0.133) | |
| Observations | 21,582 | 20,977 | 20,966 | 21,883 | 21,296 | 21,287 |
Notes: All regressions are based on the probit model. City-by-month and 2-digit ISIC level industry fixed effects are included but not reported. Standard errors in parentheses have been corrected for clustering within country-sector groups.