What Explains Differences in Finance Research Productivity During the Pandemic?

Fisher College of Business Working Paper No. 2020-03-031

Charles A. Dice Center Working Paper No. 2020-31

37 Pages Posted: 30 Dec 2020 Last revised: 1 Jan 2021

See all articles by Brad M. Barber

Brad M. Barber

University of California, Davis

Wei Jiang

Columbia Business School - Finance and Economics; ECGI; NBER

Adair Morse

University of California, Berkeley - Haas School of Business; National Bureau of Economic Research (NBER)

Manju Puri

Duke University - Fuqua School of Business; NBER

Heather Tookes

Yale University - Yale School of Management; Yale University - International Center for Finance

Ingrid M. Werner

The Ohio State University - Fisher College of Business; CEPR

Date Written: December 31, 2020

Abstract

How has COVID-19 impacted faculty productivity? Does it differ by characteristics such as gender and family structure? To answer these questions, we conduct a survey of American Finance Association (AFA) members. Overall, faculty respondents report lower research productivity with less time allocated to research and more time allocated to teaching. There is also heterogeneity: 14.5% of respondents report an increase in productivity. We find the negative effects on research productivity are particularly large for women and faculty with young children regardless of gender. Thus, the pandemic has the effect of widening the gender gap for women and creates a “family gap” in productivity for both men and women with young children. Lower research productivity for faculty with young children is explained, to a large extent, by increased time spent on childcare. Our results suggest the need for deliberate policy to factor in these underlying mechanisms. We caution that a one-size-fits-all tenure-clock extension can have unintended negative consequences of increasing disparity.

Keywords: COVID-19, pandemic, academic finance profession, research productivity, gender, family structure, tenure

JEL Classification: A22, A23, G0, I23, J13, J16, J22, J24, J44

Suggested Citation

Barber, Brad M. and Jiang, Wei and Morse, Adair and Puri, Manju and Tookes, Heather and Werner, Ingrid M., What Explains Differences in Finance Research Productivity During the Pandemic? (December 31, 2020). Fisher College of Business Working Paper No. 2020-03-031, Charles A. Dice Center Working Paper No. 2020-31, Available at SSRN: https://ssrn.com/abstract=3757548 or http://dx.doi.org/10.2139/ssrn.3757548

Brad M. Barber

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)

Wei Jiang

Columbia Business School - Finance and Economics ( email )

3022 Broadway
New York, NY 10027
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(212) 854-5553 (Phone)

ECGI ( email )

c/o the Royal Academies of Belgium
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NBER ( email )

1050 Massachusetts Avenue
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Adair Morse

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

545 Student Services Building, #1900
2220 Piedmont Avenue
Berkeley, CA 94720
United States

National Bureau of Economic Research (NBER) ( email )

1050 Massachusetts Avenue
Cambridge, MA 02138
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Manju Puri

Duke University - Fuqua School of Business ( email )

100 Fuqua Drive
Box 90120
Durham, NC 27708-0120
United States
919-660-7657 (Phone)

NBER

1050 Massachusetts Avenue
Cambridge, MA 02138
United States

Heather Tookes

Yale University - Yale School of Management ( email )

135 Prospect Street
P.O. Box 208200
New Haven, CT 06520-8200
United States

Yale University - International Center for Finance ( email )

Box 208200
New Haven, CT 06520
United States

Ingrid M. Werner (Contact Author)

The Ohio State University - Fisher College of Business ( email )

2100 Neil Avenue
Columbus, OH 43210-1144
United States
614-292-6460 (Phone)
614-292-2418 (Fax)

CEPR ( email )

London
United Kingdom

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