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STEM Parents and Women in Finance

31 Pages Posted: 30 May 2017 Last revised: 18 Jul 2017

Renee B. Adams

University of New South Wales, Department of Banking and Finance; ECGI; FIRN; ABFER

Brad M. Barber

University of California, Davis

Terrance Odean

University of California, Berkeley - Haas School of Business

Date Written: July 17, 2017

Abstract

We show parental role models differentially affect the future career choices of girls and boys using survey data from CFA Institute members. Among CFA Institute members, women are more likely to have a STEM parent (particularly a STEM mother) than men. STEM mothers increase the rate that daughters become CFA Institute members by 48% more than sons; STEM fathers increase the rate that daughters become CFA Institute members by 29% more than sons. We conclude childhood experiences affect girls’ career choice, which suggests mentorship programs for girls might improve the representation of women in finance.

Keywords: Women, Gender, Finance, CFA, Investment Industry

JEL Classification: J16, J22, G00, G20

Suggested Citation

Adams, Renee B. and Barber, Brad M. and Odean, Terrance, STEM Parents and Women in Finance (July 17, 2017). Available at SSRN: https://ssrn.com/abstract=2975898

Renée B. Adams

University of New South Wales, Department of Banking and Finance ( email )

Sydney, NSW 2052
Australia
+61(2)93854280 (Phone)

ECGI

c/o ECARES ULB CP 114
B-1050 Brussels
Belgium

HOME PAGE: http://www.ecgi.org

FIRN

C/- University of Queensland Business School
St Lucia, 4071 Brisbane
Queensland
Australia

HOME PAGE: http://www.firn.org.au

ABFER

BIZ 2 Storey 4, 04-05
1 Business Link
Singapore, 117592
Singapore

Brad M. Barber (Contact Author)

University of California, Davis ( email )

Graduate School of Management
One Shields Avenue
Davis, CA 95616
United States
530-752-0512 (Phone)
530-752-2924 (Fax)

Terrance Odean

University of California, Berkeley - Haas School of Business ( email )

545 Student Services Building, #1900
2220 Piedmont Avenue
Berkeley, CA 94720
United States
510-642-6767 (Phone)
510-666-2561 (Fax)

HOME PAGE: http://www.haas.berkeley.edu/faculty/odean.html

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