Boys and Girls Have Different Friends - Gender Differences in CEO Network and Wage Premiums

Connected male CEOs are significantly rewarded, female CEOs with connections receive a steep penalty in their earnings.

Photo by Kylie Haulk on Unsplash


By taking advantage of a new hand-collected dataset on CEO educational networks between 1992 and 2013, this paper studies the association between gender and network connections. First, female CEOs are less likely to be “Influential” (that is, have extremely large networks). Second, while connected male CEOs are significantly rewarded, female CEOs are not. These results provide evidence supporting Paul and Sahni’s (2016) work that women receive lower returns from social capital than men.

SSRN Women & Work eJournal

Presented at

  • Financial Management Association, Orlando, FL [October 2015].
  • Western Economic Association, Waikiki, HI [June 2015].

“Let’s face it. It was never about golf. It’s about access to power, access to the place where deals are made and money passes hands.” - Martha Burk, ex-chairperson of The National Council of Women.

Herman Sahni
Assistant Professor of Finance

My research interests include labor economics, health economics, and corporate finance.