Female CEOs are likely to be fired at a much higher rate than their male counterparts despite whether the company is going through good or poor financial times, according to a study cited by Forbes.
For the study, published in the Journal of Management last month, researchers at four universities in the southern United States analyzed data from publicly traded companies between 2000 and 2014, including information from press releases and executive compensation databases.
Researchers discovered female CEOs were 45 percent more likely to be fired than male chief executives. Improvements in company performance, which also often had a protective effect for men, did not affect whether a female chief executive was fired or not.
"Dismissing the CEO is usually viewed as evidence of good corporate governance, as it suggests that the board is taking its monitoring role seriously; however, our research reveals there are invisible but serious gender biases in how the board evaluates CEOs and its decision to retain or fire particular CEOs," said one study author said in a statement obtained by Forbes.
The study authors also found that during a company's positive financial times, men seemed to be protected from dismissal, but women were not and were just as likely to be fired despite the company's performance.
"The results of this study point to the extra pressure and scrutiny directed at women in senior leadership positions relative to their male counterparts," a second study author said, according to Forbes. "This is problematic because women face difficult barriers and obstacles in breaking through the proverbial glass ceiling, but they also seem to continue to face additional challenges even after reaching the top of the corporate hierarchy."
To access the full report, click here.