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The purpose of this study is to understand challenges and constraints in reaching top leadership positions for women in the Portuguese press. Specifically, it aims at characterizing their communication and leadership styles, and at identifying main gender biases in newsrooms routines from their point of view.

A qualitative method was employed by conducting in-depth interviews with four women who have held higher management positions in Portuguese leading newspapers. Participants were asked to characterize their communication and leadership style, but also newsrooms environment, trying to understand how gender asymmetries persist and manifest. Results were analyzed using thematic analysis.

While considering that Portuguese newsrooms are no longer environments marked by a sexist/macho environment, through increasing female participation, women still represent a minority in leadership. Leadership traits linked to male styles, including assertiveness and courage, were revealed, though mixed with a more participative/relational leadership. Also, female leaders regret when emotional ties with teams are not developed and recognized some degree of privilege towards other women through family support or not having children.

There is a limited number of interviews, although they represent the few top women leaders in Portuguese journalism.

Policymaking recommendations derived from conclusions include participative leadership, implementing quotas, and monitoring tools of gender biases and special training.

Media literacy policies and open debates on main media outlets concerning female leadership and communication styles may contributes toward the acknowledgement of lingering gender biases in the industry.

This study contributes to a fuller insight into the identification of leadership and personal traits among women who managed to disrupt stigmas and break barriers. Their voices are seldom heard in studies focusing leadership, so results enable ascertaining whether there is a female way of leading in journalism and comprehending the sense of privilege these women perceive.

Transaction cost economics sees a broad spectrum of governance structures spanned by two types of economic adaptation: autonomous and cooperative. Stakeholder theorists have drawn much inspiration from transaction cost economics but have not paid explicit attention to the centrality of the idea of adaptation in this literature. This study aims to address this gap.

The authors develop a novel conceptual framework applying the distinction between the two types of economic adaptation to stakeholder theory.

The authors argue that the idea of cooperative adaptation is particularly useful for describing the firm’s collaboration with primary stakeholders in the joint value creation process. In contrast, autonomous adaptation is more relevant for firms interacting with secondary stakeholders who are not directly engaged in joint value creation and may not have formal contractual relationships with the firm. Accordingly, cooperative adaptation can be seen as vital for resolving team production problems affecting joint value creation, whereas autonomous adaptation addresses how the firm maintains legitimacy within the larger stakeholder environment.

Similar to its significance for transaction cost economics, the distinction between the two types of adaptation equips stakeholder theory with a new systematic understanding of a potentially broad spectrum of firm–stakeholder collaboration forms.