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Do Women Manage Smaller Funds?

  • Hübler, Olaf

    ()

    (Leibniz University of Hannover)

  • Menkhoff, Lukas

    ()

    (Leibniz University of Hannover)

Based on a sample of 467 asset managers from four countries we robustly find that women manage smaller funds than men, despite tough competition in this industry. Interestingly, the gender gap exists only for managers of smaller funds, i.e. at the lower end of the hierarchy, as quantile regressions show. This is inconsistent with the glass ceiling hypothesis. Going further, this gender gap is limited to large firms. Explanations may refer to large firms using market power in the area of smaller funds or to "visibility" among top asset managers protecting against unequal treatment of the sexes.

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Paper provided by Institute for the Study of Labor (IZA) in its series IZA Discussion Papers with number 4771.

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Length: 31 pages
Date of creation: Feb 2010
Date of revision:
Publication status: published in: Scottish Journal of Political Economy, 2011, 58(1), 107-126
Handle: RePEc:iza:izadps:dp4771
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