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#MeToo meets the mutual fund industry: Productivity effects of sexual harassment

Author

Listed:
  • Cici, Gjergji
  • Hendriock, Mario
  • Jaspersen, Stefan
  • Kempf, Alexander

Abstract

Sexual harassment, a widespread problem in the workplace, arguably keeps female employees from optimally employing their human capital. We show that removing or diminishing this friction improves productivity. Specifically, using the male-dominated fund industry as our testing ground, we show that productivity of female mutual fund managers significantly increased after the Harvey Weinstein scandal and the onset of the #MeToo movement. Evidence from lawsuits and organizational changes at several fund companies also suggests that reducing the threat of sexual harassment improves productivity. Our results have important implications for the policy debate on workforce diversity and costs of sexual harassment.

Suggested Citation

  • Cici, Gjergji & Hendriock, Mario & Jaspersen, Stefan & Kempf, Alexander, 2019. "#MeToo meets the mutual fund industry: Productivity effects of sexual harassment," CFR Working Papers 19-03, University of Cologne, Centre for Financial Research (CFR).
  • Handle: RePEc:zbw:cfrwps:1903
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    References listed on IDEAS

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    1. Haile, Getinet Astatike, 2012. "Unhappy working with men? Workplace gender diversity and job-related well-being in Britain," Labour Economics, Elsevier, vol. 19(3), pages 329-350.
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    3. Antecol, Heather & Cobb-Clark, Deborah, 2006. "The sexual harassment of female active-duty personnel: Effects on job satisfaction and intentions to remain in the military," Journal of Economic Behavior & Organization, Elsevier, vol. 61(1), pages 55-80, September.
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    6. Kaushik Basu, 2003. "The Economics and Law of Sexual Harassment in the Workplace," Journal of Economic Perspectives, American Economic Association, vol. 17(3), pages 141-157, Summer.
    7. Jacob A. Mincer, 1974. "Introduction to "Schooling, Experience, and Earnings"," NBER Chapters, in: Schooling, Experience, and Earnings, pages 1-4, National Bureau of Economic Research, Inc.
    8. repec:oup:rfinst:v:31:y:2018:i:10:p:3821-3853. is not listed on IDEAS
    9. Judith Chevalier & Glenn Ellison, 1999. "Are Some Mutual Fund Managers Better Than Others? Cross‐Sectional Patterns in Behavior and Performance," Journal of Finance, American Finance Association, vol. 54(3), pages 875-899, June.
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    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    sexual harassment; mutual fund performance; gender discrimination; organizational frictions; human capital;

    JEL classification:

    • G23 - Financial Economics - - Financial Institutions and Services - - - Non-bank Financial Institutions; Financial Instruments; Institutional Investors
    • J21 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Labor Force and Employment, Size, and Structure
    • J71 - Labor and Demographic Economics - - Labor Discrimination - - - Hiring and Firing
    • M50 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Personnel Economics - - - General

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