Locked-in at Home: The Gender Difference in Analyst Forecasts after the COVID-19 School Closures

58 Pages Posted: 3 Dec 2020 Last revised: 14 Sep 2023

See all articles by Mengqiao Du

Mengqiao Du

Business School, National University of Singapore

Date Written: February 26, 2023

Abstract

This paper explores the shock of school closures caused by the COVID-19 pandemic to study the effect of childcare responsibilities on analyst forecasts. With manually collected data on whether analysts have children, I find that female analysts with children (mother analysts) are less likely to issue timely forecasts after school closures, compared to male analysts with children (father analysts). Mother analysts' forecasts also become less accurate after school closures, but the negative effect only exists among forecasts for firms with relatively low institutional ownership, suggesting that mother analysts prioritize maintaining the forecast accuracy for firms that are more important to their careers. Additionally, mother analysts shift forecast release times to avoid childcare hours. My findings imply that childcare responsibilities hurt the productivity of mother analysts more than that of father analysts, even though these women have established themselves in a competitive industry.

Keywords: Analyst forecasts, Childcare responsibilities, COVID-19 school closures, Gender inequality

JEL Classification: G24, G41, J16, J22

Suggested Citation

Du, Mengqiao, Locked-in at Home: The Gender Difference in Analyst Forecasts after the COVID-19 School Closures (February 26, 2023). Journal of Accounting & Economics (JAE), Volume 76, Issue 1, August 2023, Available at SSRN: https://ssrn.com/abstract=3741395 or http://dx.doi.org/10.2139/ssrn.3741395

Mengqiao Du (Contact Author)

Business School, National University of Singapore ( email )

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