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Will Women Be Women? Analyzing the Gender Difference among Financial Experts

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  • Daniela Beckmann
  • Lukas Menkhoff

Abstract

There are robust gender differences in the domains of risk taking, overconfidence and competition behavior. However, as expertise tends to level these differences, we ask whether financial experts still show gender dissimilarities in their domains of decision making? We analyze survey responses of 649 fund managers in the U.S., Germany, Italy and Thailand, and find that female fund managers tend to behave as expected from gender studies: they are more risk averse and shy away from competition in the tournament scenario. The expected lower degree of overconfidence by women is yet so small that it becomes insignificant in fund management. Copyright 2008 The Authors. Journal compilation 2008 Blackwell Publishing Ltd.

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Bibliographic Info

Article provided by Wiley Blackwell in its journal Kyklos.

Volume (Year): 61 (2008)
Issue (Month): 3 (08)
Pages: 364-384

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Handle: RePEc:bla:kyklos:v:61:y:2008:i:3:p:364-384

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  1. Comportamento econômico das mulheres
    by Roberto Ushisima in Empresas e Mercados on 2009-09-08 18:06:00
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Cited by:
  1. Gehrig, Thomas & Lütje, Torben & Menkhoff, Lukas, 2009. "Bonus Payments and Fund Managers’ Behaviour: Trans-Atlantic Evidence," CEPR Discussion Papers 7118, C.E.P.R. Discussion Papers.
  2. van Staveren, I.P., 2012. "The Lehman Sisters Hypothesis: an exploration of literature and bankers," ISS Working Papers - General Series 545, International Institute of Social Studies of Erasmus University Rotterdam (ISS), The Hague.
  3. Urs Fischbacher & Gerson Hoffmann & Simeon Schudy, 2014. "The Causal Effect of Stop-Loss and Take-Gain Orders on the Disposition Effect," Working Paper Series of the Department of Economics, University of Konstanz 2014-01, Department of Economics, University of Konstanz.
  4. Julie A. Nelson, 2012. "Are Women Really More Risk-Averse than Men?," GDAE Working Papers 12-05, GDAE, Tufts University.
  5. Julie A. Nelson, 2011. "11-03 "Would Women Leaders Have Prevented the Global Financial Crisis? Implications for Teaching about Gender, Behavior, and Economics"," GDAE Working Papers 11-03, GDAE, Tufts University.
  6. Eiji Yamamura & Yoshiro Tsutsui & Chisako Yamane & Shoko Yamane, 2014. "Effect of major disasters on geographical mobility intentions: the case of the Fukushima nuclear accident," ISER Discussion Paper 0903, Institute of Social and Economic Research, Osaka University.

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