Will Women be Women? Analyzing the Gender Difference Among Financial Experts

21 Pages Posted: 18 Jul 2008

See all articles by Daniela Beckmann

Daniela Beckmann

affiliation not provided to SSRN

Lukas Menkhoff

German Institute for Economic Research (DIW Berlin); Humboldt University of Berlin - Faculty of Economics

Abstract

There are robust gender differences in the domains of risk taking, overconfidence and competition behavior. However, as expertise tends to level these differences, we ask whether financial experts still show gender dissimilarities in their domains of decision making? We analyze survey responses of 649 fund managers in the U.S., Germany, Italy and Thailand, and find that female fund managers tend to behave as expected from gender studies: they are more risk averse and shy away from competition in the tournament scenario. The expected lower degree of overconfidence by women is yet so small that it becomes insignificant in fund management.

Suggested Citation

Beckmann, Daniela and Menkhoff, Lukas, Will Women be Women? Analyzing the Gender Difference Among Financial Experts. Kyklos, Vol. 61, No. 3, pp. 364-384, August 2008. Available at SSRN: https://ssrn.com/abstract=1162416 or http://dx.doi.org/10.1111/j.1467-6435.2008.00406.x

Daniela Beckmann (Contact Author)

affiliation not provided to SSRN ( email )

Lukas Menkhoff

German Institute for Economic Research (DIW Berlin) ( email )

Mohrenstraße 58
Berlin, 10117
Germany

Humboldt University of Berlin - Faculty of Economics ( email )

Spandauer Strasse 1
Berlin
Germany

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