Do Women Manage Smaller Funds?

Olaf Hübler and Lukas Menkhoff

No 4771, IZA Discussion Papers from Institute of Labor Economics (IZA)

Abstract: Based on a sample of 467 asset managers from four countries we robustly find that women manage smaller funds than men, despite tough competition in this industry. Interestingly, the gender gap exists only for managers of smaller funds, i.e. at the lower end of the hierarchy, as quantile regressions show. This is inconsistent with the glass ceiling hypothesis. Going further, this gender gap is limited to large firms. Explanations may refer to large firms using market power in the area of smaller funds or to "visibility" among top asset managers protecting against unequal treatment of the sexes.

Keywords: attitudes; gender; asset managers; segregation; qualification (search for similar items in EconPapers)
JEL-codes: G23 J16 J44 (search for similar items in EconPapers)
Pages: 31 pages
Date: 2010-02
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Published - published in: Scottish Journal of Political Economy, 2011, 58 (1), 107-126

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Journal Article: DO WOMEN MANAGE SMALLER FUNDS? (2011)
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