Review of Behavioral Finance, Vol. 5, No. 2, 2013
28 Pages Posted: 13 Jul 2010 Last revised: 11 Sep 2014
Date Written: February 1, 2013
We investigate whether the gender composition of a fund management team influences investment decision making behavior. Using an experimental economics approach, we examine the relationship between gender diversity and investment decisions. We find evidence that a male presence increases the probability of selecting a higher risk investment. However, the all male teams are not the most risk seeking. Moreover, having a male presence increases loss aversion. In the context of workforce composition, these results could have important implications for team investment decisions driven by the assessment of risk and return trade-offs.
Keywords: Investment decision making, group composition
JEL Classification: G11
Suggested Citation: Suggested Citation
Bogan, Vicki L. and Just, David R. and Dev, Chekitan, Team Gender Diversity and Investment Decision Making Behavior (February 1, 2013). Review of Behavioral Finance, Vol. 5, No. 2, 2013. Available at SSRN: https://ssrn.com/abstract=1638971 or http://dx.doi.org/10.2139/ssrn.1638971