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Gender in Banking and Mortgage Behavior

Author

Listed:
  • Stepan Jurajda
  • Radek Janhuba

Abstract

Compared to men, women, even financial professionals, exhibit higher risk aversion. We exploit random assignment of clients to banking advisors ('private bankers') in a large Czech bank to study the effects of advisor gender on the probability of mortgage issuance and on the probability that a newly issued mortgage is insured, which we interpret as corresponding to risk averse mortgage behavior. Male advisors do not substantially affect the chances that their clients will take a new mortgage, but the mortgages that they issue are dramatically less likely to be insured, particularly so for female clients who never had an insured loan with the bank.

Suggested Citation

  • Stepan Jurajda & Radek Janhuba, 2016. "Gender in Banking and Mortgage Behavior," CERGE-EI Working Papers wp564, The Center for Economic Research and Graduate Education - Economics Institute, Prague.
  • Handle: RePEc:cer:papers:wp564
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    File URL: http://www.cerge-ei.cz/pdf/wp/Wp564.pdf
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    More about this item

    Keywords

    banking advisors; mortgage insurance;

    JEL classification:

    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • J16 - Labor and Demographic Economics - - Demographic Economics - - - Economics of Gender; Non-labor Discrimination

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