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The role of gender in sales behaviour: Evidence from institutional financial brokerage

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  • Riefler, Raul
  • Tosun, Onur Kemal
  • Baeckström, Ylva

Abstract

We study the role of gender in sales behaviour using 336,401 daily institutional broker transactions over two years. Female brokers appear more efficient at generating revenue than males. Their more cautious sales behaviour sees them execute fewer transactions and sell lower risk financial products to more conservative clients. Directionally supportive of literature that records higher confidence levels, trading frequency and risk taking among males, we show how female brokers contribute to more diversified and successful sales behaviour. Our findings are relevant to gender unequal financial services industry and other quantitative domains that tend to overvalue male relative to female skills.

Suggested Citation

  • Riefler, Raul & Tosun, Onur Kemal & Baeckström, Ylva, 2023. "The role of gender in sales behaviour: Evidence from institutional financial brokerage," Finance Research Letters, Elsevier, vol. 55(PA).
    • Handle: RePEc:eee:finlet:v:55:y:2023:i:pa:s1544612323002866
    DOI: 10.1016/j.frl.2023.103914
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    More about this item

    Keywords

    Gender differences; Financial brokers; Sales performance; Sales behaviour;
    All these keywords.

    JEL classification:

    • G23 - Financial Economics - - Financial Institutions and Services - - - Non-bank Financial Institutions; Financial Instruments; Institutional Investors
    • G41 - Financial Economics - - Behavioral Finance - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making in Financial Markets
    • J16 - Labor and Demographic Economics - - Demographic Economics - - - Economics of Gender; Non-labor Discrimination

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