Women in Finance
61 Pages Posted: 27 Aug 2016 Last revised: 18 Aug 2017
Date Written: September 1, 2016
Across countries, banks have less gender diverse boards than other firms. Bank board diversity is particularly low in countries with greater gender gaps in PISA math scores and lower average math scores. We find similar results using state-level NAEP math scores in the United States. The influence of math scores appears to transcend standard cultural explanations. Female directors are more likely to have an MBA in banks, especially in countries with greater gender gaps in math scores. Our evidence suggests that differences in educational outcomes for boys and girls may have long-lasting implications for their career development.
Keywords: Mathematics; Gender Gaps; Finance; Banks; STEM; Board; Diversity; Growth; PISA; NAEP
JEL Classification: J16; J22; G34; G38
Suggested Citation: Suggested Citation