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Are Women More Exposed to Firm Shocks?

Author

Listed:
  • Baghai, Ramin
  • Silva, Rui
  • Soares, Margarida

Abstract

Workers care deeply about job security and pay stability. Given potentially differing risk attitudes between men and women, we examine whether gender differences exist in employee exposure to idiosyncratic firm shocks. Using a comprehensive employer-employee matched dataset, we find significant gender disparities in how firm shocks affect workers: women's wages are 25% more elastic and their dismissal rates are 34% more sensitive to firm performance shocks than those of their male colleagues. These gender differences are larger for employees with children, in small firms, and in firms without female executives. Our results uncover a gender gap in firm insurance.

Suggested Citation

  • Baghai, Ramin & Silva, Rui & Soares, Margarida, 2024. "Are Women More Exposed to Firm Shocks?," CEPR Discussion Papers 19462, C.E.P.R. Discussion Papers.
    • Handle: RePEc:cpr:ceprdp:19462
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    File URL: https://cepr.org/publications/DP19462
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    Keywords

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    JEL classification:

    • G30 - Financial Economics - - Corporate Finance and Governance - - - General
    • G52 - Financial Economics - - Household Finance - - - Insurance
    • J16 - Labor and Demographic Economics - - Demographic Economics - - - Economics of Gender; Non-labor Discrimination
    • J28 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Safety; Job Satisfaction; Related Public Policy
    • J32 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Nonwage Labor Costs and Benefits; Retirement Plans; Private Pensions

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