Despite evidence of female leadership reducing firm risks, its impact on the risks associated with the growing trend of firm digitalization remains understudied. This study explores the role of female leadership in shaping the relationship between firm digitalization and firm risk, drawing on upper-echelon and role congruity theories. Using data from Chinese listed companies, we find that female leadership’s impact on risk varies based on female power, female ratio, and alignment with local gender culture. These findings contribute to understanding the complex dynamics of digitalization, risk management, and gender diversity in leadership.
