Socially Responsible Investment and Gender Equality in the United States Census

Minsu Ko and Cynthia Yin

Working Papers from U.S. Census Bureau, Center for Economic Studies

Abstract: With administrative data, we test whether institutional ownership with a social preference is related to employee-level gender equality. We show that the gender pay gap, which is an unexplained part of the lower wages of female employees, does not have a significant relation with socially responsible investments. Next, we show that female directorship strengthens the relation between socially responsible investments and the gender pay gap. When there are female directors, socially responsible investments have a robust correlation with a lower gender pay gap. This is because female directorship alleviates information asymmetry in gender equality.

Keywords: gender; socially responsible investment; board of directors (search for similar items in EconPapers)
JEL-codes: F29 G34 J16 (search for similar items in EconPapers)
Date: 2024-08
New Economics Papers: this item is included in nep-inv and nep-lab
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Persistent link: https://EconPapers.repec.org/RePEc:cen:wpaper:24-44

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