The gender effects of COVID: evidence from equity analysts
Frank Weikai Li () and
Baolian Wang ()
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Frank Weikai Li: Singapore Management University
Baolian Wang: University of Florida
Review of Accounting Studies, 2025, vol. 30, issue 2, No 17, 1683-1715
Abstract:
Abstract We use COVID-19 and sell-side analysts as an experiment to study the effects of gender on labor productivity. We find that the forecast accuracy of female analysts declined more than that of male analysts, especially when schools were closed and among analysts who were more likely to have young children, were inexperienced, were busier, or lived in southern states of the US. Relative to male analysts, females also reduced their forecast timeliness and resorted to more heuristic forecasts but did not reduce coverage or updating frequency. Relative to pre pandemic, female analysts’ careers were more negatively affected than male analysts’. Overall, our results show that the pandemic impacted female analysts more than males through the quality of their forecasts but not the quantity.
Keywords: COVID-19; Pandemic; Financial analysts; Gender gap; Decision heuristics (search for similar items in EconPapers)
JEL-codes: G14 G20 J16 J24 J32 J4 (search for similar items in EconPapers)
Date: 2025
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DOI: 10.1007/s11142-024-09852-6
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